Calumet expands its lawsuit-funding operation

Calumet Capital, a private non-bank lender in Miami that has deployed $1.2 billion of funding to law firms, announced Jan. 28 that it has received a commitment of $300 million from a global multi-strategy alternative investment firm.

Calumet did not disclose the new investor's name. The strategy, officials said, offers law firms non-recourse working capital loans backed by case inventory. This mitigates the investment life cycle and cash-flow issues inherent in contingency fee practice.

Calumet does not manage an investment fund. Rather, it places private capital funding with law . . .

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