Alternative asset manager Aperture Investors has expanded its litigation-focused private credit platform, taking its assets under management to more than $600m (£444.2m).

The move gives Aperture’s Litigation Finance Private Credit platform approximately $1bn in total investment capacity, the firm said.

The platform provides structured loans primarily to law firms, collateralised by expected legal fee receivables from post-settlement, procedurally mature, near-settlement and short-duration legal cases.

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The strategy is led by Luke Darkow, portfolio manager for litigation finance, and has already deployed capital across structured term loan facilities secured primarily by post-settlement and near-settlement legal fee receivables, the asset manager said.

“Plaintiffs law firms’ ability to access traditional debt and equity financing solutions remains relatively constrained, while investors are looking for sources of return that are less dependent on traditional market cycles,” said Darkow.

“We believe litigation finance sits at the intersection of those two trends, and the launch of this strategy will allow us to provide investors with more flexible, ongoing access to this opportunity set.”

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Aperture is an alternative asset manager founded in partnership with Generali Investments and manages around $6.72bn in assets.

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