Litigation Capital Management has released its interim results for the half-year ended 31 December 2024. The results reflect both the inherent volatility of the litigation finance sector and the company’s ongoing transition to a fund management model.

In the period, seven realisations were reached generating revenue of A$51m. Net realised gains reached A$37.4 million, a significant increase from HY24’s A$19.6 million, with concluded investments yielding a multiple of cash invested (MOIC) of 3.67x. Total income stood at A$4.7 million, notably lower than HY24’s A$21.6 million due to a negative fair value movement of A$32 million, primarily attributed to fair value write-offs on concluded investments.

The company reported a loss after tax of A$8.4 million, compared to a profit of A$7.3 million in HY24.

Looking ahead, LCM remains optimistic about its growth trajectory. The company is accelerating its shift towards fund management, with Fund III scheduled for launch before 30 June 2025. Additionally, new commitments are expected to rebound in the second half of FY25, signalling a potential recovery in investment activity.

Commenting on the results, Patrick Moloney, CEO of Litigation Capital Management, said:

“The first half of the year reflected the inherent volatility of litigation finance. While we secured significant wins in two arbitration cases, we also faced setbacks with two class action losses at trial, which are now subject to appeal. Our transition to a fund management model continues to gain momentum, and as we scale, we expect to reduce financial unpredictability. We remain disciplined in capital allocation, focused on generating strong long-term returns for our investors and shareholders.

In the interview below LCM’s CEO Patrick Moloney outlines the Group’s performance and business model at last years Year End Results