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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Christopher Faille

Christopher Faille has written on a variety of legal, regulatory, and financial issues for decades. He is the author of "The Decline and Fall of the Supreme Court" (1995), for example, and the coauthor, with David O'Connor, of "Basic Economic Principles" (2000). He was an early reporter with Lipper HedgeWorld and has contributed to Forbes and to the Hedge Fund Law Report.

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