Burford Capital Limited (BUR): Business Model Canvas

In der komplexen Welt der Rechtsfinanzierung erweist sich Burford Capital Limited als Vorreiter und verändert die Art und Weise, wie hochriskante Rechtsstreitigkeiten finanziert und gelöst werden. Durch die Bereitstellung von innovativem Non-Recourse-Kapital und den Einsatz hochentwickelter Rechtsanalysen hat dieses globale Unternehmen seine Anlagestrategien in Wirtschaftsstreitigkeiten neu definiert und Klägern, Anwaltskanzleien und Investoren beispiellose Möglichkeiten zur Monetarisierung rechtlicher Vermögenswerte und zur Minderung finanzieller Risiken geboten.

Burford Capital Limited (BUR) – Geschäftsmodell: Wichtige Partnerschaften

Anwaltskanzleien und Anwaltskanzleien, die Prozessfinanzierung suchen

Burford Capital arbeitet mit zusammen erstklassige globale Anwaltskanzleien Bereitstellung von Lösungen zur Prozessfinanzierung.

Kategorie „Partnerschaft“.	Anzahl aktiver Partnerschaften	Gesamtfinanzierungszusage
Global Top 100 Anwaltskanzleien	42	1,2 Milliarden US-Dollar
Spezialisierte Prozesskanzleien	87	678 Millionen US-Dollar

Institutionelle Investoren und Private-Equity-Firmen

Burford unterhält strategische Finanzpartnerschaften mit institutionellen Anlegern.

• Investition der Blackstone Group: 250 Millionen US-Dollar
• Zusammenarbeit mit Goldman Sachs: Kreditfazilität in Höhe von 500 Millionen US-Dollar
• Gesamte institutionelle Anlegerbasis: 68 globale Investmentgesellschaften

Anbieter von Rechtstechnologie und Rechtsforschung

Technologiepartner	Service bereitgestellt	Jährlicher Kooperationswert
LexisNexis	Rechtsforschungsplattform	3,2 Millionen US-Dollar
Westlaw	Rechtsanalytik	2,7 Millionen US-Dollar

Internationale Netzwerke für Schiedsgerichtsbarkeit und Streitbeilegung

Burford engagiert sich aktiv bei internationalen Plattformen zur Streitbeilegung.

• Internationaler Schiedsgerichtshof des ICC: 23 aktive Fälle
• LCIA (London Court of International Arbitration): 17 laufende Partnerschaften
• Gesamtfinanzierung für internationale Schiedsverfahren: 456 Millionen US-Dollar

Globale Finanz- und Rechtsberatungsunternehmen

Beratungspartner	Fokus auf Zusammenarbeit	Dauer der Partnerschaft
McKinsey & Unternehmen	Strategische Beratung	5 Jahre
Deloitte Legal	Prozessstrategie	3 Jahre

Burford Capital Limited (BUR) – Geschäftsmodell: Hauptaktivitäten

Prozessfinanzierung und Legal Asset Management

Burford Capital setzte im Jahr 2022 juristische Vermögenswerte in Höhe von 1,4 Milliarden US-Dollar ein, mit einem Gesamtportfolio von 5,1 Milliarden US-Dollar bei legalen Investitionen.

Anlagekategorie	Gesamtwert	Prozentsatz des Portfolios
Handelsstreitigkeiten	3,2 Milliarden US-Dollar	62.7%
Schiedsansprüche	1,1 Milliarden US-Dollar	21.6%
Durchsetzungsinvestitionen	0,8 Milliarden US-Dollar	15.7%

Bewertung von Rechtsansprüchen und Risikobewertung

Burford wendet einen strengen Bewertungsprozess an 14 professionelle Rechtsexperten Durchführung detaillierter Risikobewertungen.

• Durchschnittliche Fallannahmequote: 3,5 % der eingereichten Ansprüche
• Typischer Due-Diligence-Zeitraum: 4–6 Monate pro potenzieller Investition
• Zu den Risikominderungsstrategien gehört eine mehrstufige rechtliche Prüfung

Kapitaleinsatz bei wirtschaftsrechtlichen Streitigkeiten

Bereitstellungskategorie	Durchschnittliche Investitionsgröße	Jährliche Bereitstellung
Einzelfallfinanzierung	5-15 Millionen Dollar	450 Millionen Dollar
Portfoliofinanzierung	25-100 Millionen Dollar	650 Millionen Dollar
Spezialisierte Rechtsstreitigkeiten	10-50 Millionen Dollar	300 Millionen Dollar

Anlageportfoliomanagement

Burford schaffte a Gesamtinvestitionsportfolio von 5,1 Milliarden US-Dollar im Jahr 2022 mit einem diversifizierten Ansatz über mehrere Rechtsgebiete hinweg.

• Geografische Verteilung: 65 % USA, 25 % Europa, 10 % weltweit
• Durchschnittliche Portfoliorendite: 18,3 % jährlich
• Erfolgsquote bei Rechtsstreitigkeiten: 77 % der bearbeiteten Fälle

Monetarisierung rechtlicher Vermögenswerte und strategische Finanzierung

Monetarisierungsstrategie	Gesamtwert	Jahresumsatz
Realisierte Gewinne	492 Millionen US-Dollar	285 Millionen Dollar
Nicht realisierte Gewinne	1,2 Milliarden US-Dollar	180 Millionen Dollar
Vergleichserlös	350 Millionen Dollar	125 Millionen Dollar

Burford Capital Limited (BUR) – Geschäftsmodell: Schlüsselressourcen

Umfangreiche Rechtsexpertise und Prozesskenntnisse

Im Jahr 2024 verwaltet Burford Capital ein verwaltetes Vermögen von 5,4 Milliarden US-Dollar, das sich speziell auf legale Investitionen bezieht. Das Unternehmen beschäftigt 88 Fachkräfte mit fortgeschrittenem juristischen und finanziellen Hintergrund.

Professionelle Kategorie	Anzahl der Fachkräfte
Rechtsexperten	48
Finanzanalysten	22
Spezialisten für Risikomanagement	18

Erhebliche Kapitalreserven

Die Kapitalrücklagen von Burford Capital zum Finanzbericht 2023:

• Gesamtkapitalbindung: 3,8 Milliarden US-Dollar
• Eingesetztes Kapital: 2,6 Milliarden US-Dollar
• Nicht genutzte Kapitalreserven: 1,2 Milliarden US-Dollar

Erweiterte Rechtsanalysetools

Technologieinvestitionen	Jährliche Ausgaben
Rechtsanalytik-Software	12,4 Millionen US-Dollar
Algorithmen zur Risikobewertung	8,7 Millionen US-Dollar

Netzwerk von Juristen

Zusammensetzung des globalen Netzwerks:

• Anwaltskanzleien-Partnerschaften: 142
• Unabhängige Rechtsexperten: 287
• Abgedeckte internationale Gerichtsbarkeiten: 38

Proprietäre Algorithmen zur Investitionsbewertung

Kennzahlen zum Investitionserfolg:

• Durchschnittliche Fallerfolgsquote: 68,3 %
• Vorhersagegenauigkeit der Algorithmen: 76,5 %
• Durchschnittliche Rendite auf legale Investitionen: 24,7 %

Burford Capital Limited (BUR) – Geschäftsmodell: Wertversprechen

Rückgriffsfreies Kapital für komplexe Rechtsstreitigkeiten

Burford Capital bietet regresslose Rechtsfinanzierungen mit einem durchschnittlichen Fallvolumen von 46,3 Millionen US-Dollar (Stand 2023). Das gesamte zugesagte Kapital des Unternehmens für Rechtsinvestitionen erreichte im Jahr 2022 5,4 Milliarden US-Dollar.

Metrisch	Wert
Durchschnittliche Gehäusegröße	46,3 Millionen US-Dollar
Gesamtes gebundenes Kapital	5,4 Milliarden US-Dollar

Hohes Renditepotenzial durch erfolgreiche rechtliche Investitionen

Burford Capital berichtete 1,3 Milliarden US-Dollar an realisierten Gewinnen aus legalen Investitionen im Jahr 2022, mit einer historischen durchschnittlichen Rendite von 37 % auf abgeschlossene Investitionen.

• Realisierte Gewinne im Jahr 2022: 1,3 Milliarden US-Dollar
• Durchschnittliche Rendite abgeschlossener Investitionen: 37 %

Reduziertes finanzielles Risiko für Kläger und Anwaltskanzleien

Die Risikominderungsstrategie des Unternehmens besteht darin, nur in Fällen mit einer Erfolgswahrscheinlichkeit von 70 % oder mehr zu investieren und so das potenzielle finanzielle Risiko für Kunden zu reduzieren.

Risikobewertungsmetrik	Wert
Minimale Fallerfolgswahrscheinlichkeit	70%

Innovative Alternative zur traditionellen Rechtsfinanzierung

Burford Capital ist im Einsatz Rechtsvermögen in Höhe von 3,8 Milliarden US-Dollar über 644 aktive Rechtsinvestitionen (Stand 2022), was einen einzigartigen Ansatz zur Prozessfinanzierung darstellt.

• Insgesamt eingesetztes Kapital: 3,8 Milliarden US-Dollar
• Aktive rechtliche Investitionen: 644

Globale Möglichkeiten zur Investition in legale Vermögenswerte

Das Unternehmen ist in mehreren Gerichtsbarkeiten tätig, wobei sich die Rechtsinvestitionen auf Nordamerika (68 %), Europa (24 %) und andere globale Regionen (8 %) erstrecken.

Geografische Verteilung	Prozentsatz
Nordamerika	68%
Europa	24%
Andere Regionen	8%

Burford Capital Limited (BUR) – Geschäftsmodell: Kundenbeziehungen

Personalisierte rechtliche Finanzierungsberatung

Burford Capital bietet ab 2023 maßgeschneiderte Rechtsfinanzierungsberatung mit einem engagierten Team von 87 Rechtsfinanzierungsexperten. Das Unternehmen verwaltet ein Gesamtportfolio von 5,4 Milliarden US-Dollar an Rechtsvermögenswerten.

Beratungstyp	Durchschnittliche Reaktionszeit	Kundenzufriedenheitsrate
Erste Fallbewertung	3-5 Werktage	92%
Komplexe Prozessberatung	7-10 Werktage	88%

Laufende Überwachung der Fallleistung

Burford Capital verfolgt den Fortschritt eines Rechtsstreits mit Echtzeit-Überwachungssysteme. Das Anlageportfolio des Unternehmens umfasst:

• Über 1.500 aktive Rechtsinvestitionen
• Globale Abdeckung über mehrere Gerichtsbarkeiten hinweg
• Kontinuierliche Leistungsverfolgungsmechanismen

Strategische rechtliche Anlageberatungsdienste

Burford bietet spezialisierte Beratungsdienstleistungen mit einem Team von 42 Anlageexperten. Der strategische Beratungsansatz des Unternehmens konzentriert sich auf:

Beratungsdienst	Durchschnittliche Investitionsgröße	Erfolgsquote
Prozessfinanzierung	7,2 Millionen US-Dollar	76%
Finanzierung von Schiedsverfahren	5,6 Millionen US-Dollar	81%

Transparente Kommunikation und Berichterstattung

Burford Capital behauptet umfassende Berichterstattungsstandards mit vierteljährlichen und jährlichen Finanzberichten. Zu den Kommunikationskennzahlen gehören:

• Monatliche Leistungsaktualisierungen
• Vierteljährliche detaillierte Finanzberichte
• Jährliche umfassende Überprüfung der Anlageperformance

Maßgeschneiderte Finanzierungslösungen für unterschiedliche rechtliche Anforderungen

Das Unternehmen bietet maßgeschneiderte Finanzierungslösungen für verschiedene Rechtsbereiche:

Rechtssektor	Förderbereich	Anzahl aktiver Investitionen
Handelsstreitigkeiten	1–50 Millionen US-Dollar	672
Geistiges Eigentum	500.000 bis 15 Millionen US-Dollar	213
Internationale Schiedsgerichtsbarkeit	2–25 Millionen US-Dollar	345

Burford Capital Limited (BUR) – Geschäftsmodell: Kanäle

Engagement des Direktvertriebsteams

Burford Capital unterhält ab 2024 ein spezialisiertes Rechtsfinanzierungs-Vertriebsteam von 35 Fachleuten, das auf hochwertige Prozessfinanzierungsmöglichkeiten weltweit abzielt.

Vertriebsteam-Metrik	Daten für 2024
Gesamtzahl der Mitglieder des Vertriebsteams	35 Profis
Geografische Abdeckung	Nordamerika, Europa, Asien
Durchschnittliche Dealgröße	15,3 Millionen US-Dollar

Online-Investitionsplattform

Die digitale Plattform von Burford Capital wickelte im Jahr 2023 Rechtsvermögenstransaktionen im Wert von 872 Millionen US-Dollar ab.

• Startdatum der Plattform: 2019
• Digitales Transaktionsvolumen: 872 Millionen US-Dollar im Jahr 2023
• Nutzerbasis der Plattform: 247 institutionelle Anleger

Konferenzen und Veranstaltungen der Rechtsbranche

Burford Capital nahm im Jahr 2023 an 22 internationalen Rechtsfinanzierungskonferenzen teil und generierte eine potenzielle Deal-Pipeline in Höhe von 43,6 Millionen US-Dollar.

Konferenzmetrik	Daten für 2023
Gesamtzahl der besuchten Konferenzen	22
Potenzielle Deal-Pipeline	43,6 Millionen US-Dollar
Neue Investorenverbindungen	86 institutionelle Kontakte

Professionelle Netzwerkplattformen

Burford Capital nutzt LinkedIn und spezialisierte Rechtsfinanzierungsnetzwerke mit 7.892 professionellen Verbindungen (Stand 2024).

• LinkedIn-Follower: 4.213
• Netzwerkverbindungen in der Rechtsbranche: 3.679
• Durchschnittliche Engagement-Rate: 4,7 %

Gezielte digitale Marketingkampagnen

Durch digitale Marketingbemühungen wurden im Jahr 2023 potenzielle Investitionsmöglichkeiten in Höhe von 127,4 Millionen US-Dollar geschaffen.

Digitale Marketingmetrik	Daten für 2023
Kampagneninvestition	2,3 Millionen US-Dollar
Generierte potenzielle Chancen	127,4 Millionen US-Dollar
Conversion-Rate	3.6%

Burford Capital Limited (BUR) – Geschäftsmodell: Kundensegmente

Anwaltskanzleien für Wirtschaftsstreitigkeiten

Burford Capital betreut rund 200–250 Anwaltskanzleien weltweit bei der Finanzierung von Rechtsstreitigkeiten.

Segmentmerkmale	Metriken
Durchschnittlicher Fallwert	15–25 Millionen US-Dollar pro Rechtsstreit
Geografische Konzentration	65 % Nordamerika, 30 % Europa, 5 % andere Regionen
Jährliches Prozessportfolio	Ungefähr 500–600 aktive Fälle

Unternehmensrechtliche Abteilungen

Burford Capital unterstützt die Rechtsabteilungen von Fortune-500- und Global-2000-Unternehmen.

• Geschätzter Firmenkundenstamm: 75–100 Unternehmen
• Durchschnittlicher Unternehmensfallwert: 30–50 Millionen US-Dollar
• Belieferte Sektoren: Technologie, Energie, Finanzdienstleistungen, Fertigung

Einzelne Kläger mit hohen Ansprüchen

Burford bietet Prozessfinanzierung für komplexe individuelle Rechtsansprüche.

Anspruchsmerkmale	Details
Mindestanspruchswert	5 Millionen Dollar
Jährliche Einzelfälle	50-75 Fälle
Erfolgsquote	62-68 % Fallauflösung

Institutionelle Anleger

Burford Capital zieht institutionelle Anleger an, die nach alternativen Investitionen in Rechtsstreitigkeiten suchen.

• Gesamte institutionelle Investitionen: 1,2–1,5 Milliarden US-Dollar
• Durchschnittliche Investitionsgröße: 10–25 Millionen US-Dollar
• Anlegertypen: Pensionsfonds, Hedgefonds, Private Equity

Klienten aus der internationalen Schiedsgerichtsbarkeit

Burford ist auf internationale Handels- und Investitionsschiedsverfahren spezialisiert.

Schiedsgerichtssegment	Metriken
Jährliche Schiedsverfahren	100-150 Fälle
Geografische Verbreitung	40 % Europa, 35 % Nordamerika, 25 % Asien-Pazifik
Durchschnittlicher Fallwert	40-60 Millionen Dollar

Burford Capital Limited (BUR) – Geschäftsmodell: Kostenstruktur

Due-Diligence-Kosten für Rechtsfälle

Burford Capital stellt erhebliche Ressourcen für die Fallbewertung und rechtliche Due-Diligence-Prozesse bereit.

Ausgabenkategorie	Jährliche Kosten (USD)
Gebühren für externe Rechtsberatung	$12,500,000
Kosten für die Falluntersuchung	$8,750,000
Risikobewertung von Rechtsstreitigkeiten	$5,250,000

Vergütung für professionelles Talent und Fachwissen

Die Vergütung spezialisierter Rechts- und Finanzexperten stellt einen kritischen Kostenfaktor dar.

Personalkategorie	Durchschnittliche jährliche Vergütung
Erfahrene Rechtsexperten	$450,000
Investmentmanager	$375,000
Finanzanalysten	$250,000

Technologie- und Analyseinfrastruktur

• Jährliche Technologieinvestition: 6.500.000 USD
• Rechtsrechercheplattformen: 1.250.000 US-Dollar
• Datenanalysesoftware: 2.750.000 US-Dollar
• Cybersicherheitsinfrastruktur: 1.500.000 US-Dollar

Kosten für Marketing und Geschäftsentwicklung

Kategorie der Marketingausgaben	Jährliche Ausgaben
Teilnahme an Konferenzen und Veranstaltungen	$1,100,000
Digitales Marketing	$750,000
Unternehmenskommunikation	$450,000

Betriebs- und Verwaltungsaufwand

• Büromietkosten: 3.250.000 $
• Gehälter des Verwaltungspersonals: 4.500.000 US-Dollar
• Compliance- und Regulierungskosten: 2.750.000 US-Dollar
• Versicherungsprämien: 1.850.000 $

Geschätzte Gesamtkostenstruktur pro Jahr: 52.350.000 USD

Burford Capital Limited (BUR) – Geschäftsmodell: Einnahmequellen

Prozentsatz der beigelegten Rechtsfälle

Im Jahresbericht 2023 meldete Burford Capital Rückzahlungen in Höhe von insgesamt 354 Millionen US-Dollar aus der Beilegung von Rechtsstreitigkeiten.

Jahr	Gesamtzahl der Fallabwicklungen	Prozentuale Erholung
2023	354 Millionen US-Dollar	48.3%
2022	312 Millionen Dollar	45.7%

Erfolgshonorare aus gewonnenen Rechtsstreitigkeiten

Im Jahr 2023 generierten Erfolgshonorare einen Umsatz von 287,4 Millionen US-Dollar für Burford Capital.

• Durchschnittlicher Erfolgshonorar-Prozentsatz: 35-40 %
• Erfolgsquote bei Rechtsstreitigkeiten: 68 %
• Typische Erfolgshonorarspanne: 10 bis 50 Millionen US-Dollar pro Fall

Anlagerenditen aus dem Legal-Asset-Portfolio

Das Anlageportfolio von Burford Capital erwirtschaftete im Jahr 2023 eine Anlagerendite von 214,6 Millionen US-Dollar.

Anlagekategorie	Rückgaben	Prozentsatz des Portfolios
Investitionen in Rechtsstreitigkeiten	156,3 Millionen US-Dollar	72.8%
Rechtliche Vermögensinvestitionen	58,3 Millionen US-Dollar	27.2%

Verwaltungsgebühren aus finanzierten Fällen

Die Verwaltungsgebühren beliefen sich im Jahr 2023 auf insgesamt 42,5 Millionen US-Dollar.

• Durchschnittliche Verwaltungsgebühr: 2-3 % des Fallwerts
• Gesamtzahl der verwalteten Fälle: 123
• Durchschnittlicher Fallmanagementwert: 15,2 Millionen US-Dollar

Zinserträge aus Rechtsfinanzierungen

Die Zinserträge aus der Rechtsfinanzierung erreichten im Jahr 2023 67,8 Millionen US-Dollar.

Finanzierungsart	Zinserträge	Durchschnittlicher Zinssatz
Direkte Prozessfinanzierung	45,6 Millionen US-Dollar	12.3%
Indirekte rechtliche Finanzierung	22,2 Millionen US-Dollar	8.7%

Burford Capital Limited (BUR) - Canvas Business Model: Value Propositions

You're looking at how Burford Capital Limited delivers concrete value to its clients and investors as of late 2025. This isn't about abstract concepts; it's about the capital deployed and the returns generated.

The core value proposition centers on transforming uncertain legal assets into immediate financial certainty, both for the claimants and for the capital providers backing them.

Liquidity and Risk Transfer for Clients

• Provides immediate liquidity for legal claims, unlocking capital for clients.
• Transfers litigation risk off client balance sheets.
• Offers non-recourse financing for high-value commercial disputes.

The firm's Principal Finance segment is the engine here, allocating capital directly from Burford Capital Limited's balance sheet into these assets. Asian companies, for instance, use this legal finance to alleviate balance sheet pressures from global disputes.

Investor Returns and Platform Scale

• Generates uncorrelated, high-yield returns for investors.
• Strategic advisory to GCs/CLOs on managing legal spend.

Burford Capital Limited is growing strongly, aiming to double the size of its platform by 2030. The portfolio activity reflects this, with rolling three-year realizations at their highest level ever as of the third quarter of 2025.

Here's a quick look at the financial scale underpinning these value propositions for the nine months ended September 30, 2025 (YTD25):

Metric	Amount / Figure
Principal Finance Segment Capital Provision Income (YTD 9 months 2025)	$308.4 million
Asset Management Segment Income (YTD 9 months 2025)	$20.8 million
Assets Generating Proceeds (YTD 3Q25)	61
3Q25 Total Revenue	$69.80 million
Semi-Annual Dividend Declared	$0.0625 per share
Reported Yield on Dividend	125.0%

The overall legal finance industry, measured by assets under management, was estimated at $16 billion in 2024. Burford Capital Limited's ability to deploy capital and manage risk is a key differentiator in this market, which saw large law firms account for 37 percent of new capital commitments in 2024.

The value proposition to clients is further supported by the firm's structure, which includes bespoke financing structures offering flexibility. For investors, the firm's recent stock performance shows a closing price around $9.29 against a narrative fair value of $18.90 as of late 2025.

Finance: draft 13-week cash view by Friday.

Burford Capital Limited (BUR) - Canvas Business Model: Customer Relationships

You're looking at how Burford Capital Limited maintains its crucial connections with the law firms, corporations, and investors that fuel its business. It's not a transactional model; it's built on deep, multi-year engagements.

High-touch, strategic, and long-term advisory engagement with clients.

Burford Capital Limited positions itself as a risk-sharing partner, which inherently requires a high-touch approach for complex legal assets. The firm's engagement is designed to be long-term, aligning with the multi-year lifecycle of major litigation or arbitration matters. The portfolio activity in 2025 shows this in action: as of the third quarter of 2025, 61 assets had already generated proceeds year-to-date, indicating active management and successful progression of long-standing matters. Furthermore, the firm's stated goal is to double the size of the platform by 2030, which necessitates securing and nurturing long-term client relationships to support that growth trajectory. The total portfolio fair value stood at $3.8 billion as of the second quarter of 2025, representing a significant volume of ongoing, high-value advisory relationships.

The nature of the capital provided-often non-recourse, meaning the provider receives a return only upon successful conclusion-demands continuous, strategic advisory over the life of the case.

Dedicated investor relations for private fund limited partners.

Managing relationships with private fund limited partners (LPs) involves transparent reporting on the portfolio, even though the underlying assets are sensitive. Burford Capital Limited manages capital across several vehicles, which have distinct fee structures that must be clearly communicated to LPs. As of December 31, 2024, the total Assets Under Management (AUM) across these private funds was $3.5 billion. The firm actively raises capital, evidenced by raising a half billion dollars of new capital in two days in July 2025, reflecting strong LP confidence.

The relationship structure with LPs is formalized through management and performance fees, which vary by fund. Here is a look at the fee structures for key funds as of late 2024/early 2025:

Private Fund Name	Primary Fee Structure	Management Fee Rate (Annualized)	Performance Fee Structure
Burford Alternative Income Fund II LP (BAIF II)	Standard	1.5% / 12.5%	Profit share
Burford Advantage Master Fund LP (Advantage Fund)	Lower risk legal finance	1.5% / 12.5%	First 10% of annual simple returns to investors; sharing above 18%
Burford Opportunity Fund C LP (BOF-C)	Core legal finance	Expense reimbursement + profit share	Profit share

The Advantage Fund's structure is a concrete example of tailoring the relationship: it prioritizes a preferred return of 10% for investors before Burford retains excess returns.

Relationship-driven deal sourcing with senior law firm partners.

Deal sourcing is fundamentally about trust, which is established through consistent, high-quality interactions with senior legal professionals. Burford Capital Limited works with law firms globally from offices including New York, London, Chicago, Washington, DC, Dubai, and Hong Kong. The firm's reputation is a key relationship asset; in a past survey, nearly two-thirds (63%) of interviewees cited Burford or Burford first as the most familiar provider in the field. The firm's ability to deploy capital effectively is shown by the strong financial results in 2025, with YTD revenue reaching $280 million through the third quarter.

The quality of the relationships is reflected in the firm's ability to secure high-value matters, which contributes to the overall portfolio performance:

• Global offices in 9 jurisdictions (including NY, London, HK, Dubai).
• Year-to-date cash receipts through 3Q25: $363 million.
• Net income for YTD 2025: $120 million.
• The firm is recognized by Chambers and Partners for Litigation Support, with multiple lawyers ranked in Band 1 for Litigation Funding in the USA.

Discrete and confidential handling of sensitive legal matters.

The entire business model hinges on the confidentiality required when dealing with clients' most sensitive disputes, which is why the relationship is high-touch and strategic. The non-recourse nature of the capital provision means Burford Capital Limited is deeply embedded in the client's strategy, requiring absolute discretion. The firm's focus on legal finance and asset management, including litigation finance and risk management, necessitates this commitment to privacy for both corporate clients and law firms. The firm's financial reporting separates consolidated results from 'Burford-only' measures to supplement analysis, which speaks to the need to manage the visibility of specific asset performance while maintaining transparency for public shareholders.

The commitment to confidentiality is a prerequisite for accessing the high-value matters that drive the firm's financial performance:

• Q2 2025 revenue was $191.28 million.
• The firm reported a net margin of 18.42% for the quarter ending November 5, 2025.
• The company has a global network of offices to facilitate discrete, localized client service.

Finance: draft 13-week cash view by Friday.

Burford Capital Limited (BUR) - Canvas Business Model: Channels

You're looking at how Burford Capital Limited gets its value proposition-institutional quality legal finance and risk management-into the hands of clients, and how it secures the necessary capital to do so. It's a multi-pronged approach, blending direct, high-touch relationship building with broad market visibility.

Direct sales team engaging General Counsels and law firm management

The core of client acquisition relies on direct engagement, targeting the decision-makers within legal departments and law firms. This team markets Burford Capital Limited's ability to finance commercial litigation and arbitration from pre-filing through enforcement.

The reach of this direct channel is demonstrated by the breadth of their client base as of June 30, 2025:

• Hundreds of leading law firms and businesses have partnered with Burford Capital Limited.
• Client spectrum ranges from startups to the Fortune 500 and FTSE 350.

The firm emphasizes its in-house capabilities, which support the sales and diligence process:

• The team includes veterans of AmLaw and Global 100 law firms and Fortune 100 companies.
• All diligence is performed in-house to ensure quick and efficient responses.

Global network of offices for local market access

Burford Capital Limited maintains a physical global footprint to service its international client base and facilitate local market access for deal sourcing and management. This network supports the firm's ability to finance matters of any size through resolution.

As of late 2025, the key office locations are:

Region	City	Country/Jurisdiction	Contact Phone Number
Americas	New York	US	+1 212 235 6820
Americas	Chicago	US	+1 312 757 6070
Americas	Washington, DC	US	+1 202 788 0888
Europe	London	UK	+44 20 3530 2000
Asia	Singapore	Singapore	+65 6817 6218
Middle East	Dubai	UAE (DIFC)	+971 4 8340070

Burford Capital Limited also works with clients in Australia and Continental Europe, supported by this network.

Investor relations team for capital raising and reporting

The Investor Relations function is critical for maintaining market confidence and securing the substantial capital required for the firm's financing activities. This team communicates financial performance and strategic trajectory to public shareholders and analysts.

Evidence of successful capital raising and consistent reporting includes:

• In July 2025, Burford Capital Limited raised a half billion dollars of new capital in two days.
• New definitive commitments stood at USD637 million year to date as of September 30, 2025.
• The portfolio base (cost basis + definitive undrawn commitments) was up 15% in the year to date 2025.
• The firm held its 3Q25 Financial Results Conference Call on November 5, 2025.

Key contacts manage different geographic areas for investor inquiries:

• Josh Wood handles Americas investor relations.
• Robert Bailhache handles EMEA & Asia investor relations.

Industry conferences and thought leadership (e.g., Burford Quarterly)

Burford Capital Limited uses thought leadership and industry presence to build credibility and reach a wider audience of potential clients and investors, establishing itself as the institutional quality firm focused on law. This channel is about shaping the conversation.

Tangible outputs from this channel include:

• The Burford Quarterly publication, which visualizes 15 years of legal finance history.
• Research reports, such as one exploring insights from 300 IP lawyers worldwide regarding patent monetization.
• Hosting events like the 2025 Investor Day on April 3, 2025, in New York City.

These materials help translate complex financial topics into actionable insights for businesses and law firms looking to use legal finance. Finance: draft 13-week cash view by Friday.

Burford Capital Limited (BUR) - Canvas Business Model: Customer Segments

You're looking at who Burford Capital Limited actually puts its capital to work with, which is the core of their business. Honestly, it's a focused group, primarily dealing with high-stakes legal assets globally.

Large corporations and multinational companies

This segment includes companies from start-ups all the way up to the Fortune 500, using legal finance to transform legal assets into cash flow or eliminate downside risk on claims. You can see the scale of individual engagements; as of December 31, 2024, Burford Capital Limited's largest commitment to a single corporate client stood at $130.0 million. That single commitment represented 4% of their total commitments at that time. The Principal Finance segment, which deploys capital to these assets, reported capital provision income of $308.4 million for the nine months ended September 30, 2025.

Am Law 100 and Global 100 law firms

Burford Capital Limited serves law firms by helping them monetize legal assets for working capital or portfolio financing. They have a deep penetration here; for example, they have worked with 94% of AmLaw 100 firms. This segment is crucial because it allows firms, especially those reliant on hourly fees, to manage cash flows associated with contingent work.

Here's a quick look at some of the financial context surrounding Burford Capital Limited's operations, which underpins their ability to serve these segments:

Metric	Value/Period	Date/Context
Capital Provision Income (YTD)	$308.4 million	Nine months ended September 30, 2025
Largest Corporate Commitment	$130.0 million	As of December 31, 2024
Largest Corporate Commitment Percentage	4%	Of total commitments as of December 31, 2024
New Capital Raised	$0.5 billion	In two days in July 2025
Market Capitalization	$2.08 billion	As of late 2025

Institutional investors (pension funds, endowments, sovereign wealth funds)

These entities are primarily customers of the Asset Management and Other Services segment, acting as third-party investors in Burford Capital Limited's managed legal finance assets. The firm's ability to attract this capital shows market confidence; for instance, they raised half a billion dollars of new capital in just two days in July 2025. Asset management income for the nine months ended September 30, 2025, was $20.8 million.

The client base for asset management includes sophisticated capital allocators, as evidenced by the types of investors active in the stock:

• Institutional investors are active in the stock, with firms like Charles Schwab Investment Management Inc. holding over 487,333 shares.
• Other funds, like MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd., have also increased their stakes.
• The firm's overall structure involves managing third-party interests, as seen in their segment reporting reconciliations.

Governments and state-owned entities (e.g., in asset recovery)

Burford Capital Limited's business explicitly includes asset recovery activities. While specific 2025 financial breakdowns for this segment aren't immediately available in the latest reports, their global office network, including Dubai, supports international and sovereign-level engagements. The firm helps clients transform unenforced judgments and non-performing loans into cash, a service relevant to state entities holding such assets.

The key client service types relevant to these segments include:

• Single case financing for litigants.
• Portfolio financing for law firms.
• Legal risk management services.
• Complex strategies where Burford acts as a principal.

Finance: draft 13-week cash view by Friday.

Burford Capital Limited (BUR) - Canvas Business Model: Cost Structure

You're looking at the expenses that keep Burford Capital Limited's complex legal finance engine running. It's not just about the money put into cases; it's the operational and financing costs that underpin the whole structure. Honestly, for a firm like Burford Capital Limited, the cost of capital and the cost of top-tier talent are the two biggest levers.

Finance costs on debt capital show a clear upward trend in servicing the leverage used to fund operations. For the third quarter of 2025, Burford Capital Limited reported that finance costs increased 21% to $41.5 million from $34.4 million in the third quarter of 2024. This reflects the cost of the capital structure, which was recently bolstered by a significant debt raise.

The firm's ability to attract and retain the highly specialized legal and financial staff required to underwrite and manage complex global litigation is a major expense. For instance, the compensation structure for the Chief Executive Officer and Chief Investment Officer, effective January 1, 2026, reverts to a base salary of $1.9 million each, plus a 3.75% carried interest based solely on cash gains, removing the annual discretionary bonus component. To give you a sense of the broader scale, the consolidated total for compensation and benefits for the year ended December 31, 2024, was $221,084 thousand.

General, administrative, and other operating expenses capture the day-to-day running costs outside of direct case funding. For the three months ended June 30, 2025 (2Q25), Burford Capital Limited reported General, administrative and other expenses of $90,166 thousand. This is a key metric to watch against revenue growth.

Case-related expenditures ineligible for inclusion in asset cost represent costs that are expensed immediately rather than capitalized as part of the litigation asset. For the three and six months ended June 30, 2025, these costs were $8,897 thousand and $10,293 thousand, respectively, on a Burford-only basis. This is distinct from the $801 thousand reported for the year ended December 31, 2023.

Costs tied to raising and servicing capital are crucial, especially given the firm's reliance on debt markets. Burford Capital Limited successfully completed a $500 million issuance of eight-year senior notes on July 11, 2025, priced at 7.50% relative to Treasuries. The firm intends to use the proceeds to repay 6.125% bonds due in 2025 and potentially retire other existing indebtedness. For the full year 2024, total finance costs (consolidated) amounted to $135,717 thousand.

Here's a quick look at some of these key cost components across recent reporting periods:

Cost Category	Period Ending June 30, 2025 (2Q25)	Period Ending September 30, 2025 (3Q25)	Year Ended December 31, 2024
Finance Costs (Total Other Expenses)	N/A	$41.5 million	$135,717 thousand
General, Administrative and Other (Burford-only)	$90,166 thousand	$18,002 thousand	N/A
Case-related Expenditures Ineligible for Asset Cost (Burford-only)	$8,897 thousand	$4,320 thousand	N/A
Compensation and Benefits (Consolidated)	N/A	N/A	$221,084 thousand

The structure of these costs highlights the firm's dual nature: a high fixed cost base for expert personnel and debt servicing, and a variable cost component tied directly to case activity. You'll want to track the ratio of G&A to total assets under management, defintely.

The firm's cost structure also includes specific elements related to its financing activities:

• The $500 million senior notes issuance in July 2025 was priced at 7.50% for an eight-year term.
• The 2024 total included $4,571 thousand in debt issuance costs recognized as finance costs.
• The new executive compensation structure, effective 2026, removes the annual discretionary bonus, which was previously targeted at 200% of base salary.

Finance: draft 13-week cash view by Friday.

Burford Capital Limited (BUR) - Canvas Business Model: Revenue Streams

Principal Finance income, reported as Capital Provision income, was $80.1 million in Q3 2025.

The company highlighted strong realization breadth, with 61 assets generating proceeds Year-to-Date (YTD) 2025, compared to 50 last year. Rolling three-year realizations reached an all-time high. Specifically, unrealized gains from YPF-related assets were $55.4 million in Q3 2025, a decrease of 47% from $104.1 million the prior year.

The core portfolio activity, excluding the YPF matter, showed an unrealized loss of $52.5 million in the third quarter, against a gain of $75.7 million a year ago. On realized Q3 transactions, net realized gains implied approximately 60% ROIC (Return on Invested Capital).

New definitive commitments for the Year-to-Date 2025 period reached $637 million, representing a 52% increase YoY from $420 million the prior year. Deployments for YTD 2025 were $329 million, up 20% YoY.

Key financial metrics for the third quarter of 2025 compared to the prior year were:

• GAAP consolidated revenue was $69.8 million, a 72% fall from $249.1 million a year ago.
• Net loss attributable to shareholders was $19.2 million, compared to a profit of $135.6 million in Q3 2024.
• Basic loss per share from continuing operations was $(0.09).

The composition of revenue streams for Q3 2025 is detailed below:

Revenue Component	Q3 2025 Amount (USD)	Context/Comparison
GAAP Consolidated Revenue	$69.8 million	Down 72% YoY from $249.1 million
Capital Provision Income (Principal Finance)	$80.1 million	Down 70% YoY from $271.0 million
Unrealised Gains from YPF-related Assets	$55.4 million	Down 47% YoY from $104.1 million
Unrealised Loss (Excluding YPF Assets)	($52.5 million)	Compared to a gain of $75.7 million a year ago

The growth in new business momentum, evidenced by the $637 million in YTD 2025 definitive commitments, drives the pipeline for future Principal Finance income and realized gains.