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Wednesday 9th May 2012
HARBOUR LITIGATION FUNDING RAISES £120 million
New closed-ended investment fund will finance UK legal cases and arbitrations
Harbour Litigation Funding (Harbour) today announced that it has successfully closed a
new fund, Harbour Fund II, L.P., raising £120 million of additional capital. The new fund
will invest in primarily UK-based commercial legal actions and arbitrations and will be
advised by Harbour Litigation Funding Ltd, which is regulated by the FSA.
The new fund’s portfolio is expected to comprise over 50 cases with a minimum claim
value per case of £3 million. The fund has a six-year life span, with a targeted spend of
over £40 million per year over its three year commitment period. Investors in the new
fund include endowments, family offices, private wealth managers and high-net worth
individuals.
The new fund, which follows the successful close by Harbour of a £60 million fund in
2010, confirms Harbour's position as the UK's largest litigation funder, with more than
£180 million now dedicated exclusively to investment in litigation claims across its
investment funds. The Harbour team reviews 25 new cases every month and last year
alone invested £40 million in litigation claims having a value in excess of £1 billion.
The new fund demonstrates investors' on-going appetite to invest with experienced
litigation funders with a proven business and solid track record. It also reflects
recognition by lawyers, corporate counsel and finance directors that funding is an
important part of the litigation process. Harbour expects to see increased use of funding
for commercial litigation both in the UK and in other jurisdictions as the legal profession
becomes increasingly comfortable with using quality funding products.
The portfolio will be managed by the executive team of Susan Dunn, founder and head
of litigation funding, Brett Carron, founder and chief executive, John Kingston (formerly
head of litigation at Travers Smith) and Stephen O'Dowd (formerly head of commercial
litigation at BT). Potential cases will be considered by an investment committee, chaired
by former High Court judge, Sir Gavin Lightman, and including barristers Stephen Davies
QC and Ron DeKoven and Wragge & Co director Nicola Mumford.
Harbour will source the cases through its extensive network and established brand
name. The Harbour team has collectively sourced and reviewed more than 1,200 cases
of which it has funded about 100. The types of cases it funds include breach of contract,
international arbitrations, breach of trust, unfair prejudice and shareholder disputes,
competition claims, regulatory claims, tax claims, misrepresentation and fraud claims
and bilateral investment treaty claims. While Harbour’s main focus is the UK, it is already
funding cases in the US, Channel Islands, New Zealand and the Caribbean.

Brett Carron, Chief Executive of Harbour, said: “It’s very satisfying for us to be able to
increase the opportunities we have to fund lawyers and ensure a good outcome for their
clients. Our funding balances the firepower of both claimants and defendants. The
regulatory environment in the UK since the publication of The Jackson Report and the
formation of the Association of Litigation Funders has definitely advanced the acceptance
of litigation funding to the highest levels of the judiciary."
Susan Dunn, Head of Litigation Funding at Harbour, said: “The trend is only upwards.
We’re seeing strong demand from in-house lawyers and finance directors at companies
who are using funding strategically to lay off litigation cost risk and preserve capital for
use elsewhere in their businesses. Harbour funded claimants enjoy access to a wealth
of litigation experience and our immediately accessible funds. While we expect an
increase in the use of funding for commercial litigation in the UK and other jurisdictions,
there is a long way to go. We estimate that only 10% of litigators have used litigation
funding."
Enquiries:
Brett Carron
+44 (0) 20 7220 2380
brett.carron@harbourlf.com
Susan Dunn
+44 (0) 20 7220 2371
susan.dunn@harbourlf.com
-ends-
Photographs of Susan Dunn and Brett Carron are available on request from Billie Peel on
+44 (0)20 7220 2370.
About Harbour Litigation Funding
Harbour was founded in 2007 by Susan Dunn, Brett Carron and Martin Tonnby and was
one of the UK’s first litigation funders, with the origins of the business dating back to
2002.
Harbour is a founding member of the Association of Litigation Funders and is authorised
and regulated by the Financial Services Authority. As a responsible funder, Harbour
ascribes to the Association’s Code of Conduct for Litigation Funders.
Harbour Litigation Funding Limited is a company registered under the laws of England &
Wales, company number 642478. The registered address is Kendal House, First Floor, 1
Conduit Street, London, England W1S 2XA.
For further information, visit: www.harbourlitigationfunding.com