As widely reported across legal news media, TheJudge’s affiliate, Erso Capital, a new litigation finance company has launched globally.
At the time of the launch, between discretionary funds, single managed accounts and co-investment funds, Erso has access to capital in excess of USD $1.0 billion, which makes it one of the most significant launches in the history of the litigation funding market.
Erso will be investing in commercial litigation and arbitration cases around the world. James Delaney, one of the co-founders of Erso comments: “We see Erso as a next-generation litigation funder. We have the capital resources and appetite to consider a very broad spectrum of commercial disputes, while also being adaptable to seamlessly work alongside the other risk management tools available via TheJudge, including contingency fee insurance.
Matthew Amey, another Erso Co-founder: “The common relationship between the Erso and TheJudge means there is no fear of competition or need to upsell the virtues of one product versus another, which allows us far greater flexibility to deliver optimal solutions.”
The launch of Erso follows the acquisition of TheJudge Group by the Thomas Miller Group, an international provider of market-leading insurance and professional services. Insurance specialist, Thomas Miller, currently writes in excess of $1bn in premiums a year and has over USD $3.5bn AUM, operating from 18 offices around the world.
Following the launch of Erso, TheJudge has effectively ceased its litigation funding broking and will instead focus solely on expanding its range of specialist litigation insurance products, including contingency fee insurance (DBA Insurance), ATE insurance and other speciality insurance covers.
Robert Warner, DirectorofTheJudge advises: “TheJudgecontinues to be a market innovator for legal costs insurances. The successful launch of Damages Based Agreement insurance (aimed at insuring law firm’s DBA fee risk) and more recently our Accelerate platform, demonstrates our commitment to providing insurance solutions for both smaller and larger value cases. The combination of Erso’s launch and Thomas Miller’s acquisition of TheJudge Group, are key milestones in our development plans for 2021 and beyond and establishes our unique position as being able to provide both cash liquidity and risk mitigation solutions to fit the requirements of our clients.”
Bruce Kesterton, CEO of the Thomas Miller Group, said: “The acquisition of TheJudge Group adds to the breadth and strength of our Group’s offering. TheJudge has a respected and trusted name in this specialist industry and comes with a renowned management team in their sector. We look forward to helping to accelerate the development plans for TheJudge Group and its new litigation fund Erso with the support of Thomas Miller’s global platform of businesses and relationships.