Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Woodford's Burford enters 'strategic relationship' with Moulton's Manolete

Woodford's Burford enters 'strategic relationship' with Moulton's Manolete

Burford Capital, the litigation financer backed by Neil Woodford, has formed a 'strategic relationship' with Jon Moulton's Manolete.

Manolete, which is also a litigation financer but specialises in the insolvency market, is to accept a small investment from Burford so it becomes a 16% shareholder, matching Moulton's ownership in the firm.

Under the agreement, Burford will provide co-funding of up to £10 million for Moulton's insolvency litigation investments.

Commenting on the deal, Moulton, one of the UK's best-known private equity investors, said: 'Manolete has been very successful since I invested. The transaction with Burford reaffirms my enthusiasm for Manolete.'

Since its inception in 2009, Manolete has enjoyed strong growth of more than 100% each year.

Steven Cooklin, its founder and managing director, said the tie-up with Burford would take Manolete 'far beyond the next level', and added that the firm's success had already surpassed his own expectations. 

Invesco Perpetual's Woodford (pictured) owns 15.9% of Burford's share capital in his £13.9 billion High Income fund, according to figures from Reuters, and is the litigation financer's largest shareholder. Manolete, meanwhile, also counts Punter Southall's P-Solve investment advisory business among its backers.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Potential US rate rise, cheap oil & the Europe opportunity

Potential US rate rise, cheap oil & the Europe opportunity

This week we analyse the implications of a possible rise in US interest rates, the impact of cheap oil and the European equity opportunity.  

Play Carmignac's Crowl: what QE could mean for Europe

Carmignac's Crowl: what QE could mean for Europe

The ECB is widely expected to finally fire its QE gun this week. Carmignac's Sandra Crowl discusses the implications for the eurozone.

Play Grexit worries, currency wars and a grizzly outlook for 2015?

Grexit worries, currency wars and a grizzly outlook for 2015?

The first Investment Pulse of the year looks at the potential impact of Greece leaving the euro, volatility in currency markets and the UK’s economic prospects.

Your Business: Cover Star Club

Profile: DIY investing is biggest threat to industry, says Whitechurch

Profile: DIY investing is biggest threat to industry, says Whitechurch

The industry is at risk of pushing potential investors down the DIY route unless it does more to make its services accessible says the Whitechurch Securities boss

Wealth Manager on Twitter