Lake Whillans Closes $125M Litigation Funding Round

By Darcy Reddan (January 4, 2018, 5:32 PM EST) -- Litigation finance firm Lake Whillans closed a $125 million round of funding at the end of the year, the firm said Thursday, marking the first time the firm has looked outward since its inception in 2013.

The firm, which has offices in New York and California, raised $100 million through university endowments, $50 million from the University of Michigan, with the rest coming from various funds and high-net-worth individuals. The purpose of the capital is to invest in claims over assets where the value depends on the outcome of litigation or arbitration, according to Lake Whillans co-founder Lee Drucker.

"We probably...

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