Parabellum Capital

The investment committee is led by co-founders Howard Shainker, Aaron Brask, and Matthew Rosenthal, who have run the firm together since the 2012 management buyout from Credit Suisse. All three were part of the original litigation finance unit within the bank and continue to oversee underwriting, portfolio construction, and capital deployment. The firm has not publicly announced a succession structure or next-generation leadership layer.

The firm originates deals through a network of contingency-fee plaintiff law firms, claims brokers, and corporate legal departments. Because Parabellum is one of a small number of dedicated, scaled managers in the space, its origination network has been built over more than a decade, giving it access to claims that generalist credit funds do not see. The firm's in-house legal team screens for both legal merit and recoverability before credit underwriting begins.

Parabellum targets US commercial litigation with damages typically exceeding $10 million. Its portfolio spans intellectual property, antitrust, breach of contract, securities litigation, and whistleblower actions. The firm provides both single-case financing and law-firm portfolio facilities, allowing law firms to smooth cash flows across their dockets.

Parabellum operates as an institutional credit manager, not a law firm or a bank. It provides non-recourse financing, meaning repayment is contingent on a successful litigation outcome. This structure transfers risk from the law firm or claimant to Parabellum's fund, and the firm's underwriting blends legal-merit analysis performed by in-house counsel with structured credit risk assessment — a hybrid model distinct from both traditional bank lending and pure legal advisory.

The three co-founders previously ran Credit Suisse's in-house litigation finance division, which was one of the earliest institutional platforms in the asset class. In 2012, they led a management buyout of the unit, taking the existing portfolio and team into a newly independent firm called Parabellum Capital. The firm has operated independently since, with no ongoing financial or operational ties to Credit Suisse.

Litigation finance returns are driven by legal outcomes, not macroeconomic conditions or public-market movements. This structural non-correlation is a core part of the strategy's appeal to institutional limited partners. Parabellum's returns depend on case selection and the US legal system's adjudication timelines, not on GDP growth, interest rates, or equity market performance.

The firm focuses exclusively on US commercial litigation. It has not publicly announced any non-US investments or international offices, and its underwriting expertise is calibrated to the US federal and state court systems. International litigation finance carries different regulatory and enforcement risks that fall outside Parabellum's stated mandate.