Litigation Finance Forum

[Anonymous User]

A former co-worker has reached out to me about joining his lit finance firm. I never really considered it, but maybe I should. Has anyone exited BigLaw commercial lit to join a lit finance firm? What's it like?

[Anonymous User]

Yes. It's a pretty incredible life compared to biglaw litigation. Comp is good (though obviously not as good as biglaw) and the work/life balance improvement is immeasurable. I'd be careful to go to a reputable funder though -- the smaller shops can go under pretty quickly given the binary nature of lit funding investments.

[Anonymous User]

Yes. It's a pretty incredible life compared to biglaw litigation. Comp is good (though obviously not as good as biglaw) and the work/life balance improvement is immeasurable. I'd be careful to go to a reputable funder though -- the smaller shops can go under pretty quickly given the binary nature of lit funding investments.

Can you give more details about different firms?

[Anonymous User]

Yes. It's a pretty incredible life compared to biglaw litigation. Comp is good (though obviously not as good as biglaw) and the work/life balance improvement is immeasurable. I'd be careful to go to a reputable funder though -- the smaller shops can go under pretty quickly given the binary nature of lit funding investments.

Can you give more details about different firms?

If you have any specific questions I'm happy to answer them but I'm not gonna write an open ended dissertation.

[Anonymous User]

Yes. It's a pretty incredible life compared to biglaw litigation. Comp is good (though obviously not as good as biglaw) and the work/life balance improvement is immeasurable. I'd be careful to go to a reputable funder though -- the smaller shops can go under pretty quickly given the binary nature of lit funding investments.

Can you give more details about different firms?

If you have any specific questions I'm happy to answer them but I'm not gonna write an open ended dissertation.

Any info on parabellum cap

[Anonymous User]

Yes. It's a pretty incredible life compared to biglaw litigation. Comp is good (though obviously not as good as biglaw) and the work/life balance improvement is immeasurable. I'd be careful to go to a reputable funder though -- the smaller shops can go under pretty quickly given the binary nature of lit funding investments.

Can you give more details about different firms?

If you have any specific questions I'm happy to answer them but I'm not gonna write an open ended dissertation.

Any info on parabellum cap

Definitely one of the bigger/more reputable shops. Don't know too much about the specific inner workings.

[cfcm]

Yes. It's a pretty incredible life compared to biglaw litigation. Comp is good (though obviously not as good as biglaw) and the work/life balance improvement is immeasurable. I'd be careful to go to a reputable funder though -- the smaller shops can go under pretty quickly given the binary nature of lit funding investments.

On a basic level, what does this sort of work involve? Is it a legal role or something more on the business side, in the sense of evaluating the potential merits of cases?

[Anonymous User]

What kind of background do you need (strictly lit only? How many years biglaw?)

And what kind of role do you get (salaries, hours, etc)

[Anonymous User]

There are different roles within and among litigation finance shops. There are the people who do more of the pure legal analysis work and there are people who do more pure sales work, and there are people who do a mix of both. Generally, though, the role involves 1. marketing your services to law firms and potential clients, 2. assessing potential investments, and 3. following investments after they're made. Different shops run differently -- some have people who do all three roles, some have different people for each role, some are a mix.

Backgrounds are for the most part strictly litigation, and there's no real reason to hire anyone less experienced than 5th year or so.

Like anything else, comp and hours vary with seniority and role. I have a hybrid sales/legal role and I'm fairly senior and I only took a slight paycut from my biglaw comp. I am, however, pretty bored. It's much lower key than law firm work.

[Anonymous User]

Are there specific practice experience(s) lit finance firms value most highly? Is hiring just based on interviews and the usual lit observables (caliber of firm, clerkships, etc.), or are there other important factors?

[Anonymous User]

Any info about Legalist?

[Anonymous User]

Any info about Legalist?

Doesn't have enough assets or experience to keep up with the bigger players. Good at marketing though.

[Anonymous User]

how appealing are patent litigators for these roles?

[Anonymous User]

how appealing are patent litigators for these roles?

Only a few shops actually do IP work, so those that do get all of it, and there's lots. Look at the bigger ones.

[Anonymous User]

Any info about Legalist?

Doesn't have enough assets or experience to keep up with the bigger players. Good at marketing though.

Who would you say are the big players in the space?

[Anonymous User]

Any info about Legalist?

Doesn't have enough assets or experience to keep up with the bigger players. Good at marketing though.

Who would you say are the big players in the space?

https://chambers.com/legal-rankings/lit ... 16:12788:1

[Anonymous User]

Do any recruiters focus on litigation finance positions? If you contact one of the typical big commercial lit recruiters, will they know or have contacts in lit finance at all?

[Anonymous User]

There are different roles within and among litigation finance shops. There are the people who do more of the pure legal analysis work and there are people who do more pure sales work, and there are people who do a mix of both. Generally, though, the role involves 1. marketing your services to law firms and potential clients, 2. assessing potential investments, and 3. following investments after they're made. Different shops run differently -- some have people who do all three roles, some have different people for each role, some are a mix.

Backgrounds are for the most part strictly litigation, and there's no real reason to hire anyone less experienced than 5th year or so.

Like anything else, comp and hours vary with seniority and role. I have a hybrid sales/legal role and I'm fairly senior and I only took a slight paycut from my biglaw comp. I am, however, pretty bored. It's much lower key than law firm work.

Sorry to bump after so much time. What does the day-to-day for tasks 2 and 3 look like? Are you evaluating proposals from potential plaintiffs? What does the work product look like? Do you have a say in the litigation?

[Anonymous User]

Do any recruiters focus on litigation finance positions? If you contact one of the typical big commercial lit recruiters, will they know or have contacts in lit finance at all?

DE Shaw litigation finance is almost all ex-WLRK. Burford good number as well.

I've been pinged about positions via typical in-house recruiter cold email. Don't think they were "specialized" litigation finance folks.

[Anonymous User]

I assume the answer is probably no, but do any of these lit funders do work with L&E?

[Anonymous User]

Generally, though, the role involves 1. marketing your services to law firms and potential clients, 2. assessing potential investments, and 3. following investments after they're made.

Sorry to bump after so much time. What does the day-to-day for tasks 2 and 3 look like? Are you evaluating proposals from potential plaintiffs? What does the work product look like? Do you have a say in the litigation?

Re-bump re: day to day.

[Anonymous User]

Generally, though, the role involves 1. marketing your services to law firms and potential clients, 2. assessing potential investments, and 3. following investments after they're made.

Sorry to bump after so much time. What does the day-to-day for tasks 2 and 3 look like? Are you evaluating proposals from potential plaintiffs? What does the work product look like? Do you have a say in the litigation?

Re-bump re: day to day.

I’m not an expert, but my understanding is generally they do not have a say in the litigation. That can create legal issues.

[Anonymous User]

Generally, though, the role involves 1. marketing your services to law firms and potential clients, 2. assessing potential investments, and 3. following investments after they're made.

Sorry to bump after so much time. What does the day-to-day for tasks 2 and 3 look like? Are you evaluating proposals from potential plaintiffs? What does the work product look like? Do you have a say in the litigation?

Re-bump re: day to day.

I’m not an expert, but my understanding is generally they do not have a say in the litigation. That can create legal issues.

So then what do you do, sit and twiddle your thumbs all day?

[Anonymous User]

Generally, though, the role involves 1. marketing your services to law firms and potential clients, 2. assessing potential investments, and 3. following investments after they're made.

Sorry to bump after so much time. What does the day-to-day for tasks 2 and 3 look like? Are you evaluating proposals from potential plaintiffs? What does the work product look like? Do you have a say in the litigation?

Re-bump re: day to day.

I’m not an expert, but my understanding is generally they do not have a say in the litigation. That can create legal issues.

So then what do you do, sit and twiddle your thumbs all day?

It's not a hard job. For 2, you read the pleadings/filings so far and talk to the lawyers and the potential client to get a sense for how you think the case will go, then write up the memo on the case if you think it's worth an investment. For 3, you just talk to the lawyers once a week or every two weeks to get updates on the case.

No, you have no say in the litigation.