On The Merits
Fortress Dominates Litigation Finance—With Money and Intensity
Oct 17, 2024
Emily Siegel, a Bloomberg Law litigation finance reporter, delves into Fortress Investment Group's remarkable ascent in the litigation funding sector, having committed $6.6 billion to legal assets. She reveals the firm's secret sauce: intense focus and meticulous detail. Siegel shares insights from her extensive interviews with Fortress executives, touching on the intricate patent troll controversy and the tension between transparency and exploitation in funding. Additionally, the podcast explores future trends in litigation finance, emphasizing its evolving landscape and challenges.
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Quick takeaways
- Fortress Investment Group's dominance in litigation finance is fueled by its substantial $6.6 billion investment and differentiated approach to financing law firms' entire portfolios.
- The ongoing debate around transparency in litigation funding, highlighted by Fortress's VLSI Technology case, raises critical concerns about legal proceedings and financial influences.
Deep dives
Fortress Investment Group's Rise in Litigation Funding
Fortress Investment Group has become a dominant player in the litigation funding industry, driven by substantial financial backing totaling $6.6 billion in legal assets. Initially established as a private equity boutique in the late 1990s, Fortress expanded into various sectors, including real estate and credit, and became the first alternative investment manager to go public in 2007. Over time, the company has undergone significant changes, including a public acquisition by SoftBank and a subsequent buyout by Mubadala Investment Company. Today, their approach includes lending money to law firms based on their entire portfolio of cases, a model that differentiates them from typical single-case investments in litigation finance.
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