Moulton-backed litigation funder Manolete Partners lines up £100m London listing

A litigation funder backed by private equity veteran Jon Moulton is planning an autumn listing in London that could value it at £100m.

Manolete Partners, which was founded in 2009, focuses on buying legal claims from insolvent companies or providing litigation funding to help creditors to pursue claims themselves.

Better Capital boss Moulton owns more than 40 per cent of the company and is in line for a substantial windfall when it goes to market.

Read more: Watch out Burford: Listed law firm could launch its own litigation fund

Manolete is currently at the stage of selecting banks for the float which is pencilled in to take place after the summer.

Chief executive Steven Cooklin, who owns 32 per cent of the company, said: “We are looking very seriously at listing on the London Stock Exchange. The demand for our capital from liquidators of UK and international companies is at record levels and we do not foresee a slow down any time soon.”

Co-founder Mike Faulkner owns 24 per cent of the company with the balance of four per cent held by staff.

Manolete has invested in more than 220 cases, completing 160 with more than 60 live cases on its books.

Read more: Litigation funder Vannin Capital eyeing multi-million pound London float

In January Manolete agreed a £10m revolving credit facility with bank HSBC to help it fund cases.

Fellow litigation funder Vanin Capital is currently working on plans for a London float that could value it at £500m.

Read more: Burford shares rocket by 29 per cent following profit surge

Earlier this month law firm Rosenblatt went public with plans to use some of the funds from its listing to fund its own litigation cases.

Litigation funder Burford Capital reported stellar results this year after investing more than $1.3bn (£960m) in litigation cases in 2017.