I know there was some doubt in 2013 when litigation finance started picking up steam, but anyone have thoughts on the sector, pay, individual firms (Gerchen Keller, Burford), etc? Still seems to be a bit of black box.
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At this point, most FO roles are occupied by former litigators. Their focus is still on assessing if a particular case has a high probability of producing a positive outcome. The plain vanilla lit fin doesn't require in-depth business/financial due diligence. It's a game of pattern recognition. However, some funds interested in principal investing have been steadily building out a team of investors/analysts. For example, Omni Bridgeway has expanded into distressed debt by hiring a global director of distressed debt. Burford has active complex strategies where they invest in legal-related assets. Some has hired statisticians to have them perform more granular modeling. For obvious reasons, there is limited data on pay, exit oppty, etc., but I certainly believe that is an interesting niche.
Thanks! I agree it seems really interesting.
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