Third Party Funding (TPF) refers to an agreement or arrangement between a funding company/individual and a client (the claimant) whereby the funder agrees to finance some or all of the client’s legal fees in exchange for a share of the proceeds in the event of success. Under this model, outside investors — typically a hedge fund or special purpose litigation fund — seek out commercial litigants who have meritorious and substantial claims, but who may be unable or unwilling to make the financial investment required to litigate those claims.
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