Fortress Funds Snap Up Litigation Funder Vannin Capital
Law360 (September 6, 2019, 5:43 PM EDT) -- Vannin Capital said Friday it will be bought by funds managed by Fortress Investment Group LLC for an undisclosed amount, nearly a year after the litigation funder postponed plans to go public in London.
In a brief statement, Vannin said Fortress will buy all of its equity from existing shareholders, including Bramden Investments, Vannin's majority owner and a private equity vehicle exclusively funded by DLA Group.
The deal, Vannin said, is expected to close later this month.
"Over the last few months, as we evaluated how best to accelerate future growth, we have received several offers for the business," Bramden Investments...
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