Capital markets: Litigation funding finds its feet

Litigation funding has surged in recent years. The asset class is catnip to yield-hungry investors, with funders expanding from their roots in Australia and the UK to tap new markets from Germany to Brazil and the US.

Nick Rowles-Davies has been called a few things in his career, but the one that comes directly to mind involves a throwaway line by a member of the Fourth Estate.

“I was once described by a journalist as being a ‘pinstriped ambulance chaser’,” he says. “I took exception to that. I have never owned a pinstriped suit.”

The choice of insult makes sense once you know what he does. Rowles-Davies, a cheery Englishman, is the executive vice-chairman of Sydney-based LCM Finance, one of the world’s oldest litigation finance companies.

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