43 Management

43 Management deploys capital into litigation finance, which involves funding commercial lawsuits, arbitration claims, law-firm portfolios, and judgment-enforcement actions. The firm provides non-recourse financing, meaning repayment is contingent on the successful resolution of the underlying legal matter. Asset classes within this strategy include single-case investments, diversified claim portfolios, and law-firm credit facilities.

Returns in litigation finance depend on court rulings, settlements, and arbitration outcomes rather than equity prices, interest rates, or corporate earnings cycles. A judge's ruling is not driven by GDP growth or central-bank policy. This structural separation from market beta is the primary reason institutional allocators treat the asset class as a diversifier within private credit or absolute-return allocations.

Investment teams in litigation finance are typically composed of former commercial litigators, restructuring attorneys, and structured-credit professionals. Underwriting requires assessing legal merits, jurisdictional biases, judge track records, and opposing-party behavior — skills that are native to practicing lawyers rather than traditional credit analysts. 43 Management's specific leadership has not been publicly disclosed.

Litigation finance investments are inherently illiquid and long-duration. A commercial lawsuit can take three to five years to reach trial or settlement, and appeals may extend that timeline further. Capital is typically locked up in closed-end fund structures with no interim redemption rights, and distributions are lumpy — often concentrated around settlement events or judgment collections.

Co-investment is common in larger litigation finance matters where claim sizes exceed a single funder's case-level exposure limits. Multiple funders may share a single claim to diversify risk. Whether 43 Management participates in co-investment syndicates is not publicly documented, but the practice is standard across the industry for large-scale commercial disputes.