Brown Rudnick Advises NorthWall Capital on Litigation Funding Industry’s Largest Law Firm Financing

International law firm Brown Rudnick advised credit investment firm NorthWall Capital on a refinancing and successful exit from its investment in law firm Pogust Goodhead, which has announced a $552.5 million secured loan from Gramercy Funds Management.

Brown Rudnick previously advised NorthWall on two rounds of investment in Pogust Goodhead in March 2021 and July 2022 respectively, totaling £150 million, which was at the time the largest investment in a U.K. law firm.

Gramercy’s loan to Pogust Goodhead refinanced NorthWall previous investments, enabling NorthWall to exit with a profit. Following the transaction NorthWall will retain an ongoing partnership with Pogust Goodhead with substantial exposure to the firm and future potential upside.

Pogust Goodhead is an international law firm headquartered in London focused on environmental, social and corporate governance litigation.

Elena Rey, Partner and Industry Group Leader of Litigation Funding at Brown Rudnick, said: “NorthWall is a longstanding client and having advised the firm on its prior investments in this law firm, we are thrilled to have advised our client on the refinancing and successful exit.

This complex transaction signals the maturity of the litigation funding market and the breadth of investment interest in the asset class, as well as the potential for funders to make significant returns by providing law firm financing.”

Brown Rudnick is the go-to law firm for litigation funding deals globally, thanks to the Firm’s deep understanding of the industry and experience in structuring innovative and complex deals.

In November 2020, Brown Rudnick launched the Litigation Funding Working Group, which now includes over 90 members to develop model documents. In May 2022, Brown Rudnick launched London’s first ever litigation funding conference. Now an annual event, it attracts funders, lawyers, brokers, investors and other entities from the global litigation funding eco-system. For more information on the next European Litigation Funding conference to be held in London on 14 March 2024, please contact brownrudnickevents@brownrudnick.com