Litigation Capital Management Limited

Litigation Capital Management Limited (LCM) is a global provider of legal finance, operating two business models: direct investments funded from its own permanent balance sheet capital, and fund/asset management of third-party capital (LCM Global Alternative Returns Funds I, II and III). It pursues single-case funding, corporate portfolio funding and acquisitions of claims, earning returns from its own invested capital and performance fees from fund management. FY26 was a year of severe losses and the Group has agreed a long-term amendment with its lender, Northleaf, to move the existing case portfolio into an orderly run-off with no new investments.