Litigation Capital Management says strong first close to second third party fund 'adds to LCM capital structure' and gives 'firepower'

Litigation Capital Management Ltd (AIM:LIT) (AIM:LIT) Patrick Maloney talks to Proactive London about their LCM Global Alternative Returns Fund II raising US$200mln at the first closing date.

It is their second third-party fund and it aims to bring in at least US$300mln and much like the first fund, it will be involved in financing legal actions with LCM itself co-investing and contributing 25% to the cost of the cases from its own balance sheet.

He says this is a major milestone and achievement for LCM.