International law firm PGMBM and leading European special situations investor North Wall Capital (North Wall) announce a new £45 million funding partnership to support the pursuit of claims on behalf of consumers wronged by large corporations globally.
North Wall’s investment brings the total capital raised to over £100 million and will support the firm as it continues to establish itself as a major global player in group and class-action litigation, antitrust and alternative dispute resolution.
We are at the cutting edge of international consumer claims, including leading group cases against:
- Mercedes, Volkswagen, and other automotive firms over diesel emissions scandals
- British Airways and easyJet in cases related to breaches of personal data
- Several of the world’s largest pharmaceutical companies over the harmful risks associated with their drugs and medical devices
“We are very pleased to announce this partnership,” said Harris Pogust, PGMBM Chairman.
“Our goal is to fight the good fight on behalf of those wronged by some of the world’s largest multinational corporations. PGMBM is growing rapidly, attracting brilliant, passionate talent from around the world.”
We are increasing our international case load, as we evolve to meet the needs of those who need us the most,” Harris continued. “This funding helps us continue that journey.
“We have been impressed with the dedication, speed and creativity of the North Wall team in structuring a funding solution that addresses our current and future funding needs and are pleased to have found a partner that shares our passion for socially responsible litigation.”
Alexander Garnier, Founding Partner of North Wall Capital, commented: “We have been tremendously impressed by PGMBM’s progress to date and are excited to have entered into this innovative funding partnership.
“We are pleased to play a part in PGMBM’s pursuit of justice for its clients by providing this substantial funding line. This partnership will complement our existing investments and our team’s leadership in the ESG-focused legal asset space.”
Fabian Chrobog, Founder and Chief Investment Officer of North Wall Capital, added: “Structured legal assets financing offers uncorrelated returns and our strong focus on ESG-focused litigation meets the growing demand for ESG investment strategies from institutional investors.
“Our inaugural legal assets fund has been fully deployed in support of ESG-focused litigation, which places an economic cost on environmental and other damage caused by large corporates. As large corporations are increasingly held to account for their behaviour, we see a significant and growing opportunity set in this space.”
The investment made by North Wall is a joint venture between the firm’s Legal Assets Fund and the North Wall European Opportunities Fund. The firm’s inaugural Legal Assets Fund has been almost exclusively committed to claims relating to the diesel emissions scandal, consumer protection and environmental litigation.