Burford Capital plans listing to raise 200m to fund legal cases

COMMERCIAL dispute financier Burford Capital yesterday said it plans to float on London&rsquo;s Aim market by placing shares worth up to &pound;200m.<br /><br />The investment company, registered in Guernsey, is headed by Sir Peter Middleton, the former Treasury official and chairman of Barclays.<br /><br />Dealings are expected to take place on or around 16 October the company said.<br /><br />Burford Capital will create and manage a portfolio of dispute financing investments, focusing on commercial disputes in the US in the short term as well as international arbitration matters.<br /><br />The company expects proceeds from the placing to be fully invested within 18 to 24 months.<br /><br />Fox-Pitt, Kelton has been appointed sole bookrunner, nominated adviser and broker to the company. Execution Limited has been appointed co-lead manager.<br /><br />Christopher Bogart, principal of Burford Group, investment adviser to the company, said: &ldquo;We are delighted to be creating a new listed fund for investors seeking access to dispute finance, an asset class capable of generating highly attractive returns irrespective of the performance of equity markets&rdquo;.