On 3rd January Burford announced that on 30th December it had sold an interest in the Petersen claim to a third party investor at a price that implied a valuation of more than ten times Burford’s investment. The claim has been progressing well and, having passed a significant milestone in 2016, would have been expected to rise in value regardless of any transaction. This is the second secondary market transaction that Burford has completed, each demonstrating a gain over the existing valuation. In this report we discuss the implications for valuations, both for this specific case and for the portfolio as a whole.