Funds managed by Fortress Investment Group LLC (“Fortress”) have today announced the acquisition of Vannin Capital, the global expert in legal finance.
New York-based Fortress has been a significant investor in the fast-growing legal finance market in recent years.
Fortress will acquire 100 per cent of the equity in Vannin from existing shareholders including majority owner Bramden Investments, a private equity vehicle funded exclusively by DLA Group. The acquisition is expected to complete in late September 2019.
Dan Craddock, Founder and Managing Director at Bramden Investments, said: “We are pleased to announce the sale of our interests in Vannin Capital to Fortress Investment Group. Over the last few months, as we evaluated how best to accelerate future growth, we have received several offers for the business. Fortress represented the strongest choice in all respects, not least due to its established position in the market and its long-standing relationship with Vannin.”
“Vannin has been a leading investor and innovator in the litigation finance space, and we’ve enjoyed our partnership to date” said Gordon Runté of Fortress. “We believe this acquisition is a logical next step and natural fit for our business, and it will complement the breadth of our relationships and leadership in the space”