Legal Business Blogs

ABS rising: Burford Capital launches its own law firm with Akin Gump hire

After receiving a licence in January, Burford Capital has launched its own Alternative Business Structure (ABS) Burford Law, with the hire of Akin, Gump, Strauss, Hauer & Feld‘s Tom Evans.

Described by The Legal 500 as ‘extremely smart’, commercial litigator Evans has a broad range of experience in international arbitration, litigation and mediation. He joins Burford Law as a counsel. He was of Counsel at Akin Gump.

A spokesperson for Burford Capital said Evans will help provide services to clients which have judgments in need of enforcement.

He added: ‘We’re confident that Tom’s capacity to work in conjunction with Burford enforcement specialists and international local counsel will make for a faster, more seamless and generally happier outcome for clients.’

Earlier this year Burford Capital appointed Fried, Frank, Harris, Shriver & Jacobson’s former head of competition and antitrust Craig Arnott as its new managing director after the sudden resignation of Nick Rowles-Davies.

The litigation funder has had an expansive 12 months, having invested €30m in US competition law boutique Hausfeld so it can open in Germany. Announced in October 2015, Burford’s investment was the largest-known facility established to fund litigation in Germany, where Hausfeld claimed there is significant demand, particularly in anti-trust litigation. The office opened in January this year.

Meanwhile in February this year Welsh firm Capital Law launched a £50m commercial litigation funding service, marking the first time a UK law firm established its own disputes funding pot. The fund is secured and will be managed by Capital Law directly, rather than by an external litigation financier obligated to other equity and asset management partners.

For more on third party funding see the feature: ‘The bigger short – third party funding bets on new markets and models’