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Mishcon de Reya launches MDR Solutions I - a £150m litigation finance venture

Posted on 8 September 2021

Mishcon de Reya has today announced that it is launching a new litigation finance venture called MDR Solutions I. It will be used to fund litigation and arbitration cases for Mishcon de Reya's clients.

It is the result of a strategic partnership with Harbour, one of the largest dedicated litigation and arbitration funders in the world, with which Mishcon de Reya has an established working relationship. So far, Harbour has committed around $200 million to cases where Mishcon de Reya is advising the claimant, including those against Hiscox, RBS and BT, and there are currently nine cases being funded by Harbour on behalf of Mishcon.

Mishcon de Reya has one of the largest and most successful disputes teams in London and Singapore – with more than 280 litigators across the firm – and a proven track record acting for claimants across a broad range of UK and international litigation and arbitration matters. MDR Solutions I will be able to offer funding across this broad range including non-performing loans and asset recoveries; complex fraud; intellectual property disputes; and group litigation.

Operationally separate to the law firm, the new venture will be responsible for assessing and investing in prospective cases originated by Mishcon de Reya. MDR Solutions I will benefit from sophisticated data science capability and expertise which has been built by Mishcon de Reya over a number of years. The firm will be co-investing alongside Harbour.

Executive Chairperson of the Mishcon de Reya Group, Kevin Gold said:

"It is critical that we have the right structures and support in place to meet the developing needs of our growing client base and to realise our ambition to become one of the leading complex disputes practices internationally. For some time, we have been assessing the litigation funding market and exploring potential opportunities. Creating a strategic partnership with Harbour enables us to deliver on our objectives with one of the most respected litigation funders in the world. We hope that MDR Solutions I is the first of a series of similar ventures in the future."

CEO and Founder of Harbour, Martin Tonnby said:

"This strategic partnership with Mishcon de Reya reflects the continued growth in the demand for litigation funding and is the natural next step in our long term relationship with the firm. Our future commitment to the firm is based on the depth of our relationship, their track record and our ongoing belief in their litigation and arbitration capabilities. The scale of our investment reflects this."

Harbour CIO Ellora MacPherson added:

“This is fantastic news and the next step in the development of our relationship. We have nine active cases which Mishcon de Reya are advising on and close relationships between the teams at every level of the organisation. We look forward to working even closer together.”

Stifel acted as exclusive financial advisor to Mishcon de Reya. Simons & Simmons acted as legal counsel.

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