Cision PR Newswire
Armadillo Litigation Funding Announces Additional $250 Million in Lending Capacity
News provided byArmadillo Litigation Funding
Nov 21, 2023, 10:45 AM ET
HOUSTON, Nov. 21, 2023 /PRNewswire/ -- Armadillo Litigation Funding, LLC (together with its affiliates, "Armadillo") is pleased to announce that it has secured an additional $250 million in lending capacity. This $250 million, when combined with Armadillo's existing lending capacity, brings Armadillo's total available lending capacity to over $630 million. In March 2022, Armadillo announced that it had raised $750 million of which $446 million has been deployed in 20 loans, not including an additional $150 million in Armadillo led third party syndications.
Nick Johnson, Armadillo's Founder and CEO, said, "This additional $250 million demonstrates the market's continued confidence in Armadillo and its ability to successfully invest capital in the law firm lending space. We are excited to begin deploying this capital, and any other new capital commitments, with leading U.S. plaintiff law firms including new borrowers."
Armadillo is targeting another $250 million in additional lending capacity in 2024. Armadillo believes that this anticipated new capital, along with the recently secured $250 million, will enable it to continue to deploy capital well into 2025 and beyond.
About Armadillo Litigation Funding
Armadillo Litigation Funding provides financing to US law firms participating in mass tort, consumer, and commercial litigation, law firm service providers and commercial claims through a UK funding partner. Armadillo offers general obligation loans secured by the borrowers' interests in current and future awards including, but not limited to, contingent fees. Armadillo's targeted loan size is generally $10 million to $100 million per individual client.
SOURCE Armadillo Litigation Funding
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