Presented by Armadillo Financial Fund LP (“Armadillo” or the “Fund”) employs a direct lending strategy which primarily provides financing to plaintiff law firms engaged in medical mass tort litigation. The Fund was launched as a collaboration between EJF Capital LLC (“EJF”), an SEC-registered investment adviser with approximately $5.9 billion in total assets under management (as of 7.31.14), and an established Houston-based mass tort attorney with over 20 years of experience.
Featured Presenter: Brian R. Roth, Portfolio Manager Armadillo Financial Fund LP (“Armadillo” or the “Fund”).
Below fund and firm summary & biography.
Fund and Firm Summary
Armadillo Financial Fund LP (“Armadillo” or the “Fund”) employs a direct lending strategy which primarily provides financing to plaintiff law firms engaged in medical mass tort litigation. The Fund was launched as a collaboration between EJF Capital LLC (“EJF”), an SEC-registered investment adviser with approximately $5.9 billion in total assets under management (as of 7.31.14), and an established Houston-based mass tort attorney with over 20 years of experience.
- Armadillo provides low leverage, high quality high-yielding loans secured against the law firm’s interests in future award settlements.
- Armadillo endeavors to become a leader in the fragmented mass tort space by making institutional-sized loans ranging from $5 million to $50 million.
- Armadillo estimates there is a current lending opportunity in this space of more than $3 billion.
Additional Fund Detail
Armadillo is a niche-focused specialty lender with a growing portfolio of secured loans to plaintiff law firms engaged in mass tort and other civil litigation.
- The Fund makes general obligation loans secured by the law firms’ interests in future award settlements, including but not limited to contingent legal fees expected to be earned from successful mass tort litigation.
- Armadillo is seeking approximately $300 million of funding while aiming for returns of approximately 20% with low correlation to interest rates and the broader markets.
- The Fund is organized as a hybrid private equity structure with an estimated portfolio loan life of approximately 2.5 years.
About EJF Capital
EJF Capital was founded in 2005 by Manny Friedman and Neal Wilson along with a small team of professionals from Friedman, Billings, Ramsey Group, Inc. (“FBR”). EJF is headquartered outside of Washington DC and manages both credit and equity strategies with a focus on event driven opportunities within banking and financials. The firm employs 65 professionals across three offices globally (Washington DC, London, and Shenzhen, China).
Biography
Brian R. Roth, Portfolio Manager
Mr. Roth joined EJF in 2009 to focus on special situations and event driven investing. Previously, Mr. Roth was a Director and founding partner of Capital Atlântico LLC, an investment advisory firm focused on Brazilian real estate equity and debt securities. After identifying Brazilian commercial real estate as a compelling emerging asset class, Mr. Roth co-founded Capital Atlântico in 2005 to provide investment advisory services to international institutions entering the market. Mr. Roth was formerly a Vice President at FBR, where he was a private equity investment professional focused on financial services and real estate finance companies. Mr. Roth has a BS in Bioengineering from the University of Pennsylvania and an MBA from the Stern School of Business at New York University.
This information is intended solely for the use of the party to whom it has been provided and is not to be reprinted or redistributed without the express permission of EJF. The information is intended for informational purposes only, and shall not constitute a solicitation or an offer to buy or sell any security or service, or an endorsement of any particular investment strategy. Offering of the Fund is made by private placement memorandum only. The Fund entails a high degree of risk and is designed only for sophisticated investors who can bear the loss of all or a substantial amount of their investment and who have a limited need for liquidity in their investment.
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