CASL has commenced capital raising for CASL Fund 2 and is seeking commitments of up to $150m from sophisticated investors for new cases. $30m in investor pre-commitments have already been received demonstrating the appetite from investors.
CASL Fund 1 secured in July 2022, $156m of committed investment capital from institutional and sophisticated investors. This inaugural capital raising for CASL raised the largest capital pool dedicated to Australian litigation finance and was a strong endorsement of the CASL team, a recognition of the opportunities in the market, and a reflection of the credibility of Australia as a destination for global institutional investors.
CASL Fund 2 is offering investors the choice of investing into an Australian unit trust in two classes of units namely Class A and Class B units which will invest in the same portfolio of cases originated by CASL.
Class A units offer an innovative capital-protected feature issued by an international insurer that provides an alternate option for those investors with a lower risk appetite but a desire to invest in this uncorrelated alternate asset class.
CASL CEO, Stuart Price said “Wealth managers have expressed a strong interest in this product as, within Australia, there are few opportunities to invest in this asset class through a well-established Investment Manager that is purely focused on the local market.”
Bell Potter has been appointed as lead manager for the capital raise.
More information can be found in the media release attached here.