The fundraising, which was oversubscribed, was supported by Beach Point Capital Management, the anchor investor in the previous Augusta Ventures funding, and two new investors, Magnetar Capital, who will act as anchor in this funding, and Northleaf Capital Partners.
Louis Young, Chief Executive Officer at Augusta Ventures, said:
“We are delighted to announce this new £250m capital raising as Augusta seeks to expand its capital resources to meet the increased demand for legal related finance across all sectors and geographies. We have never seen so many strong opportunities. It is particularly satisfying to see both the continued support of existing investors as well as the addition of two new institutions who have deep experience in the sector. This validates the quality of our investment platform and the amount of the new commitments reflects the depth of the investment pipeline.”
Hitesh Patel, Non-Executive Chairman of Augusta Ventures, said:
“Augusta’s largest capital raising initiative signals its intention to rapidly expand its portfolio of investors and funding cases. Augusta has deep expertise in the litigation funding market, and this new funding will enable us to provide claimants and law firms with even greater access to funding that de-risks litigation for claimants and facilitates access to justice.
“I am excited about working with a talented team at Augusta and its investors and the future prospects of expanding the company’s operations and assets under management.”
Augusta Ventures Limited (Augusta), founded in 2013, is a leading alternate asset manager specialising in the provision of financing solutions for dispute resolution on behalf of global investment houses. Augusta’s team of 42 professionals are located in London, Sydney and Toronto, and as of May 2021 it has £585m of committed and drawn capital available for investment. Through its disciplined underwriting platform Augusta has provided finance to over 240 investments across multiple jurisdictions, all generated from its specialist practise groups covering Arbitration, Class/Group Action, Competition, and Consumer Litigation, and across sectors including Financial Services and Construction & Energy.
Founded in 2005, Magnetar is a multi-strategy alternative investment manager with approximately $14bn of assets under management as of March 31, 2021. Magnetar seeks to achieve stable risk-adjusted returns by opportunely employing a wide-range of alternative credit and fixed income, energy and infrastructure, and systematic investing strategies. Magnetar invests across regions and business structures, in both public and private markets, taking advantage of the deep rigour of fundamental and quantitative analysis. The firm is based in Evanston, Illinois, with additional offices in London and Houston. For more information, visit www.magnetar.com.
Northleaf Capital Partners is a global private markets investment firm with more than US$16 billion in private equity, private credit and infrastructure commitments raised to date on behalf of public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices. Northleaf’s 150-person team, located in Toronto, Montreal, London, New York, Chicago, Menlo Park and Melbourne, is focused exclusively on sourcing, evaluating and managing private markets investments globally. Northleaf’s portfolio includes more than 400 active investments in 40 countries, with a focus on mid-market companies and assets. For more information on Northleaf, please visit www.northleafcapital.com.
Beach Point Capital Management is a multi-strategy investment firm, managing $16.3 billion in assets on behalf of institutional clients. The firm has built a long-standing track record investing across complex and misunderstood credit opportunities. The investment team focuses on event-driven credit, corporate loans, distressed debt, structured credit, credit-informed equities, and other opportunistic investments. The team’s significant legal expertise is a key competitive advantage, bringing a deep understanding of complex capital structures, covenants and restructurings to unlock value and enhance downside protection.
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