v3.25.1
Fair value of assets and liabilities - Financial Instruments Grouped by Fair Value (Details) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2023
Capital provision assets        
Derivative financial assets $ 5,305,021 $ 5,243,917 $ 5,096,807 $ 5,045,388
Assets of consolidated investment companies        
Due from settlement of capital provision assets 102,648 183,858    
Marketable securities 83,544 79,020    
Total assets 5,491,213 5,506,795    
Liabilities:        
Financial liabilities relating to third-party interests in capital provision assets 780,330 747,053    
Total liabilities 780,330 747,053    
Net total 4,710,883 4,759,742    
Single case        
Capital provision assets        
Derivative financial assets 756,442 1,052,519    
Portfolio        
Capital provision assets        
Derivative financial assets 3,099,848 3,053,800    
Portfolio with equity risk        
Capital provision assets        
Derivative financial assets 74,222 65,041    
Legal risk management        
Capital provision assets        
Derivative financial assets 7,197 6,442    
Joint ventures and equity method investments        
Capital provision assets        
Non-derivative financial assets 157,435 154,220    
Single case with equity risk        
Capital provision assets        
Non-derivative financial assets 6,136 8,711    
Core legal finance (BOF-C)        
Assets of consolidated investment companies        
Assets of consolidated investment companies 685,487 713,896    
Core legal finance (EP Funds)        
Assets of consolidated investment companies        
Assets of consolidated investment companies 410,204      
Lower risk legal finance (Advantage Fund)        
Assets of consolidated investment companies        
Assets of consolidated investment companies 108,050 189,288    
Government securities        
Assets of consolidated investment companies        
Marketable securities 48,524 40,405    
Corporate bonds        
Assets of consolidated investment companies        
Marketable securities 19,155 20,077    
Asset-backed securities        
Assets of consolidated investment companies        
Marketable securities 1,536 1,971    
Mutual funds        
Assets of consolidated investment companies        
Marketable securities 8,298 10,654    
Certificates of deposit        
Assets of consolidated investment companies        
Marketable securities 6,031 5,913    
Level 1        
Capital provision assets        
Derivative financial assets 12,522 17,292    
Assets of consolidated investment companies        
Due from settlement of capital provision assets 0 0    
Total assets 26,851 33,859    
Liabilities:        
Financial liabilities relating to third-party interests in capital provision assets 0 0    
Total liabilities 0 0    
Net total 26,851 33,859    
Level 1 | Single case        
Capital provision assets        
Derivative financial assets 0 0    
Level 1 | Portfolio        
Capital provision assets        
Derivative financial assets 0 0    
Level 1 | Portfolio with equity risk        
Capital provision assets        
Derivative financial assets 0 0    
Level 1 | Legal risk management        
Capital provision assets        
Derivative financial assets 0 0    
Level 1 | Joint ventures and equity method investments        
Capital provision assets        
Non-derivative financial assets 0 0    
Level 1 | Single case with equity risk        
Capital provision assets        
Non-derivative financial assets 6,136 8,711    
Level 1 | Core legal finance (BOF-C)        
Assets of consolidated investment companies        
Assets of consolidated investment companies 6,386 8,581    
Level 1 | Core legal finance (EP Funds)        
Assets of consolidated investment companies        
Assets of consolidated investment companies 0      
Level 1 | Lower risk legal finance (Advantage Fund)        
Assets of consolidated investment companies        
Assets of consolidated investment companies 0 0    
Level 1 | Government securities        
Assets of consolidated investment companies        
Marketable securities 0 0    
Level 1 | Corporate bonds        
Assets of consolidated investment companies        
Marketable securities 0 0    
Level 1 | Asset-backed securities        
Assets of consolidated investment companies        
Marketable securities 0 0    
Level 1 | Mutual funds        
Assets of consolidated investment companies        
Marketable securities 8,298 10,654    
Level 1 | Certificates of deposit        
Assets of consolidated investment companies        
Marketable securities 6,031 5,913    
Level 2        
Capital provision assets        
Derivative financial assets 0 0    
Assets of consolidated investment companies        
Due from settlement of capital provision assets 0 0    
Total assets 69,215 62,453    
Liabilities:        
Financial liabilities relating to third-party interests in capital provision assets 0 0    
Total liabilities 0 0    
Net total 69,215 62,453    
Level 2 | Single case        
Capital provision assets        
Derivative financial assets 0 0    
Level 2 | Portfolio        
Capital provision assets        
Derivative financial assets 0 0    
Level 2 | Portfolio with equity risk        
Capital provision assets        
Derivative financial assets 0 0    
Level 2 | Legal risk management        
Capital provision assets        
Derivative financial assets 0 0    
Level 2 | Joint ventures and equity method investments        
Capital provision assets        
Non-derivative financial assets 0 0    
Level 2 | Single case with equity risk        
Capital provision assets        
Non-derivative financial assets 0 0    
Level 2 | Core legal finance (BOF-C)        
Assets of consolidated investment companies        
Assets of consolidated investment companies 0 0    
Level 2 | Core legal finance (EP Funds)        
Assets of consolidated investment companies        
Assets of consolidated investment companies 0      
Level 2 | Lower risk legal finance (Advantage Fund)        
Assets of consolidated investment companies        
Assets of consolidated investment companies 0 0    
Level 2 | Government securities        
Assets of consolidated investment companies        
Marketable securities 48,524 40,405    
Level 2 | Corporate bonds        
Assets of consolidated investment companies        
Marketable securities 19,155 20,077    
Level 2 | Asset-backed securities        
Assets of consolidated investment companies        
Marketable securities 1,536 1,971    
Level 2 | Mutual funds        
Assets of consolidated investment companies        
Marketable securities 0 0    
Level 2 | Certificates of deposit        
Assets of consolidated investment companies        
Marketable securities 0 0    
Level 3        
Capital provision assets        
Derivative financial assets 5,292,499 5,226,625    
Assets of consolidated investment companies        
Due from settlement of capital provision assets 102,648 183,858    
Total assets 5,395,147 5,410,483    
Liabilities:        
Financial liabilities relating to third-party interests in capital provision assets 780,330 747,053    
Total liabilities 780,330 747,053    
Net total 4,614,817 4,663,430    
Level 3 | Single case        
Capital provision assets        
Derivative financial assets 756,442 1,052,519    
Level 3 | Portfolio        
Capital provision assets        
Derivative financial assets 3,099,848 3,053,800    
Level 3 | Portfolio with equity risk        
Capital provision assets        
Derivative financial assets 74,222 65,041    
Level 3 | Legal risk management        
Capital provision assets        
Derivative financial assets 7,197 6,442    
Level 3 | Joint ventures and equity method investments        
Capital provision assets        
Non-derivative financial assets 157,435 154,220    
Level 3 | Single case with equity risk        
Capital provision assets        
Non-derivative financial assets 0 0    
Level 3 | Core legal finance (BOF-C)        
Assets of consolidated investment companies        
Assets of consolidated investment companies 679,101 705,315    
Level 3 | Core legal finance (EP Funds)        
Assets of consolidated investment companies        
Assets of consolidated investment companies 410,204      
Level 3 | Lower risk legal finance (Advantage Fund)        
Assets of consolidated investment companies        
Assets of consolidated investment companies 108,050 189,288    
Level 3 | Government securities        
Assets of consolidated investment companies        
Marketable securities 0 0    
Level 3 | Corporate bonds        
Assets of consolidated investment companies        
Marketable securities 0 0    
Level 3 | Asset-backed securities        
Assets of consolidated investment companies        
Marketable securities 0 0    
Level 3 | Mutual funds        
Assets of consolidated investment companies        
Marketable securities 0 0    
Level 3 | Certificates of deposit        
Assets of consolidated investment companies        
Marketable securities $ 0 $ 0