Burford Capital (BUR): Positive judgement from the secondary market
Burford has announced a further sale from the Petersen case, the third in the last six months. On this occasion, they have sold 15% of the exposure for $66m, giving an implied value on the whole case of $440m. This is a 10% uplift on the value given by the previous sales, which was $400m. Having reduced their retained exposure to 75%, Burford have made commitments to keep at least 65% until the end of 2018 and at least 50.1% beyond that.
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