Litigation finance: an asset class in its own right

Recovering investment losses

Each year, investors recover $2-3 billion who have suffered losses due to fraud in cases such as Enron, Petrobras, Valeant Pharmaceuticals, and Madoff. Savvy investors (institutional and asset management firms) are increasingly pursuing strategic opportunities within these securities litigation cases to maximize their recoveries beyond what they would normally receive as passive claimants. This additional return is driving innovation in an asset class that a growing number of investors are successfully pursuing.

This discussion will explore the differences between opportunities to recover investment losses related to fraud in France and internationally and their treatment as portfolio assets for investors, from the perspective of an institutional investor, a specialist manager, a senior financial lawyer and a securities loss recovery expert.

The debate was moderated by Fabrice Zamboni , former investment director at Malakoff Humanis.

With the participation of:

• Anne-Marie Jourdan

  Legal Affairs Officer at the Caisse des Dépôts Group