Legal Financing Rivals to Combine in $160 Million Deal
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The merger of Burford Capital and Gerchen Keller Capital will join two American firms with $1.2 billion in investments and commitments in the field of outside financing for litigation. CreditAndrew Burton/Getty Images
Burford Capital Limited, which finances litigation for corporations and law firms, is acquiring its Chicago-based rival, Gerchen Keller Capital LLC, in a $160 million deal.
The combined firms have $1.2 billion in investments and commitments in the growing field of outside financing for litigation.
Law firms are turning more frequently to outside sources, according to a Burford survey of firms and in-house corporation counsel released in May. Partnership structures at law firms hinder investment in longer-term litigation, which can require costly improvements in technology or data security. Corporations trying to handle large-scale litigation are also hamstrung by tighter budgets, the general counsels said in the survey…
Legal Financing Rivals to Combine in $160 Million Deal
