v3.26.1
Segment reporting (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Reportable Business Segments
The tables below set forth certain information with respect to the Group’s unaudited condensed consolidated statements of operations by reportable segment for the periods indicated.
Three months ended June 30, 2026
Reconciliation
($ in thousands)Principal FinanceAsset
Management and Other Services		Total
segments
(Burford-only)
Reconciling items(1)
Total
consolidated
Capital provision income/(loss)$85,302 $— $85,302 $16,177 $101,479 
Plus/(Less): Third-party interests in capital provision assets— — — 1,112 1,112 
Asset management income/(loss)— 10,360 10,360 (10,071)289 
Marketable securities income/(loss) and interest6,935 — 6,935 46 6,981 
Other income/(loss)— 822 822 — 822 
Total revenues92,237 11,182 103,419 7,264 110,683 
Compensation and benefits28,458 2,334 30,792 — 30,792 
General, administrative and other7,097 1,483 8,580 32 8,612 
Case-related expenditures ineligible for inclusion in asset cost8,111 — 8,111 (74)8,037 
Operating expenses43,666 3,817 47,483 (42)47,441 
Other expenses
Finance costs49,626 — 49,626 — 49,626 
Foreign currency transactions (gains)/losses and other expenses(216)(164)(380)30 (350)
Total other expenses49,410 (164)49,246 30 49,276 
Income/(loss) before income taxes(839)7,529 6,690 7,276 13,966 
1. Reconciling items include the proportional operating results that are attributable to third-party limited partners and minority investors in consolidated entities, including BOF-C, the Advantage Fund, Colorado, the EP Funds and other entities.
Three months ended June 30, 2025
Reconciliation
($ in thousands)Principal FinanceAsset
Management and Other Services		Total
segments
(Burford-only)
Reconciling items(1)
Total
consolidated
Capital provision income/(loss)$155,410 $— $155,410 $68,754 $224,164 
Plus/(Less): Third-party interests in capital provision assets— — — (43,257)(43,257)
Asset management income/(loss)— 7,112 7,112 (5,763)1,349 
Marketable securities income/(loss) and interest8,542 — 8,542 55 8,597 
Other income/(loss)— 433 433 — 433 
Total revenues163,952 7,545 171,497 19,789 191,286 
Compensation and benefits30,085 6,868 36,953 — 36,953 
General, administrative and other6,297 1,369 7,666 126 7,792 
Case-related expenditures ineligible for inclusion in asset cost1,493 — 1,493 2,827 4,320 
Operating expenses37,875 8,237 46,112 2,953 49,065 
Other expenses
Finance costs33,979 — 33,979 — 33,979 
Foreign currency transactions (gains)/losses and other expenses(1,484)— (1,484)(21)(1,505)
Total other expenses32,495 — 32,495 (21)32,474 
Income/(loss) before income taxes93,582 (692)92,890 16,857 109,747 
1. Reconciling items include the proportional operating results that are attributable to third-party limited partners and minority investors in consolidated entities, including BOF-C, the Advantage Fund, Colorado, the EP Funds and other entities.
Six months ended June 30, 2026
Reconciliation
($ in thousands)Principal FinanceAsset
Management and Other Services		Total
segments
(Burford-only)
Reconciling items(1)
Total
consolidated
Capital provision income/(loss)$(1,583,781)$— $(1,583,781)$(813,505)$(2,397,286)
Plus/(Less): Third-party interests in capital provision assets— — — 773,007 773,007 
Asset management income/(loss)— 15,642 15,642 (15,069)573 
Marketable securities income/(loss) and interest13,253 — 13,253 140 13,393 
Other income/(loss)— 622 622 — 622 
Total revenues(1,570,528)16,264 (1,554,264)(55,427)(1,609,691)
Compensation and benefits(94,552)9,012 (85,540)— (85,540)
General, administrative and other13,933 3,210 17,143 57 17,200 
Case-related expenditures ineligible for inclusion in asset cost27,401 — 27,401 (61,716)(34,315)
Operating expenses(53,218)12,222 (40,996)(61,659)(102,655)
Other expenses
Finance costs99,268 — 99,268 — 99,268 
Foreign currency transactions (gains)/losses and other expenses15,967 (707)15,260 34 15,294 
Total other expenses115,235 (707)114,528 34 114,562 
Income/(loss) before income taxes(1,632,545)4,749 (1,627,796)6,198 (1,621,598)
1. Reconciling items include the proportional operating results that are attributable to third-party limited partners and minority investors in consolidated entities, including BOF-C, the Advantage Fund, Colorado, the EP Funds and other entities.
Six months ended June 30, 2025
Reconciliation
($ in thousands)Principal FinanceAsset
Management and Other Services		Total
segments
(Burford-only)
Reconciling items(1)
Total
consolidated
Capital provision income/(loss)$246,360 $— $246,360 $109,320 $355,680 
Plus/(Less): Third-party interests in capital provision assets— — — (64,053)(64,053)
Asset management income/(loss)— 20,949 20,949 (18,062)2,887 
Marketable securities income/(loss) and interest15,242 — 15,242 142 15,384 
Other income/(loss)— 247 247 — 247 
Total revenues261,602 21,196 282,798 27,347 310,145 
Compensation and benefits51,147 12,120 63,267 — 63,267 
General, administrative and other14,609 3,177 17,786 216 18,002 
Case-related expenditures ineligible for inclusion in asset cost4,582 — 4,582 4,315 8,897 
Operating expenses70,338 15,297 85,635 4,531 90,166 
Other expenses
Finance costs67,859 — 67,859 — 67,859 
Foreign currency transactions (gains)/losses and other expenses(2,083)— (2,083)(22)(2,105)
Total other expenses65,776 — 65,776 (22)65,754 
Income/(loss) before income taxes125,488 5,899 131,387 22,838 154,225 
1. Reconciling items include the proportional operating results that are attributable to third-party limited partners and minority investors in consolidated entities, including BOF-C, the Advantage Fund, Colorado, the EP Funds and other entities.
The table below sets forth specified line items with respect to the Group’s unaudited condensed consolidated statements of financial condition by reportable segment as of the dates indicated.
June 30, 2026
Reconciliation
($ in thousands)Principal FinanceAsset
Management and Other Services		Total
segments
(Burford-only)
Reconciling items(1)
Total
consolidated
Cash and cash equivalents and marketable securities$716,636 $16,219 $732,855 $14,405 $747,260 
Other assets$33,009 $178,478 $211,487 $(129,445)$82,042 
Due from settlement of capital provision assets$122,370 $— $122,370 $— $122,370 
Capital provision assets$2,319,497 $— $2,319,497 $865,180 $3,184,677 
Total assets$3,302,299 $219,699 $3,521,998 $750,140 $4,272,138 
1. Reconciling items include the proportional balances that are attributable to third-party limited partners and minority investors in consolidated entities, including BOF-C, the Advantage Fund, Colorado, the EP Funds and other entities.
December 31, 2025
Reconciliation
($ in thousands)Principal FinanceAsset
Management and Other Services		Total
segments
(Burford-only)
Reconciling items(1)
Total
consolidated
Cash and cash equivalents and marketable securities$599,011 $21,666 $620,677 $35,246 $655,923 
Other assets$24,348 $167,309 $191,657 $(117,914)$73,743 
Due from settlement of capital provision assets$164,804 $— $164,804 $— $164,804 
Capital provision assets$3,912,194 $— $3,912,194 $1,697,755 $5,609,949 
Total assets$4,811,081 $215,004 $5,026,085 $1,615,087 $6,641,172 
1. Reconciling items include the proportional balances that are attributable to third-party limited partners and minority investors in consolidated entities, including BOF-C, the Advantage Fund, Colorado, the EP Funds and other entities.