v3.26.3
Fair value of assets and liabilities - Financial Instruments Grouped by Fair Value (Details) - USD ($)
$ in Thousands
Sep. 30, 2026
Jun. 30, 2026
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Dec. 31, 2024
Capital provision assets            
Derivative financial assets $ 3,337,579 $ 3,184,677 $ 5,609,949 $ 5,615,305 $ 5,544,683 $ 5,243,917
Assets of consolidated investment companies            
Due from settlement of capital provision assets 120,422   164,804      
Marketable securities 67,406   89,486      
Total assets 3,525,407   5,864,239      
Liabilities:            
Financial liabilities relating to third-party interests in capital provision assets 101,591   858,491      
Total liabilities 101,591   858,491      
Net total 3,423,816   5,005,748      
Single case            
Capital provision assets            
Derivative financial assets 849,809   819,515      
Portfolio            
Capital provision assets            
Derivative financial assets 1,452,072   3,383,317      
Portfolio with equity risk            
Capital provision assets            
Derivative financial assets 35,819   38,524      
Legal risk management            
Capital provision assets            
Derivative financial assets 6,525   5,737      
Joint ventures and equity method investments            
Capital provision assets            
Non-derivative financial assets 218,765   189,488      
Single case with equity risk            
Capital provision assets            
Non-derivative financial assets 814   2,811      
Core legal finance (BOF-C)            
Assets of consolidated investment companies            
Assets of consolidated investment companies 672,394   653,462      
Core legal finance (EP Funds)            
Assets of consolidated investment companies            
Assets of consolidated investment companies 35,526   451,407      
Lower risk legal finance (Advantage Fund)            
Assets of consolidated investment companies            
Assets of consolidated investment companies 65,855   65,688      
Government securities            
Assets of consolidated investment companies            
Marketable securities 1,581   58,333      
Corporate bonds            
Assets of consolidated investment companies            
Marketable securities 44,823   15,861      
Asset-backed securities            
Assets of consolidated investment companies            
Marketable securities 5,998   1,177      
Mutual funds            
Assets of consolidated investment companies            
Marketable securities 4,875   7,828      
Certificates of deposit            
Assets of consolidated investment companies            
Marketable securities 10,129   6,287      
Level 1            
Capital provision assets            
Derivative financial assets 1,802   5,657      
Assets of consolidated investment companies            
Due from settlement of capital provision assets 0   0      
Total assets 8,258   19,772      
Liabilities:            
Financial liabilities relating to third-party interests in capital provision assets 0   0      
Total liabilities 0   0      
Net total 8,258   19,772      
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 814   2,811      
Level 1 | Core legal finance (BOF-C)            
Assets of consolidated investment companies            
Assets of consolidated investment companies 988   2,846      
Level 1 | Core legal finance (EP Funds)            
Assets of consolidated investment companies            
Assets of consolidated investment companies 0   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 1,581   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 4,875   7,828      
Level 1 | Certificates of deposit            
Assets of consolidated investment companies            
Marketable securities 0   6,287      
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 60,950   75,371      
Liabilities:            
Financial liabilities relating to third-party interests in capital provision assets 0   0      
Total liabilities 0   0      
Net total 60,950   75,371      
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   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 0   58,333      
Level 2 | Corporate bonds            
Assets of consolidated investment companies            
Marketable securities 44,823   15,861      
Level 2 | Asset-backed securities            
Assets of consolidated investment companies            
Marketable securities 5,998   1,177      
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 10,129   0      
Level 3            
Capital provision assets            
Derivative financial assets 3,335,777   5,604,292      
Assets of consolidated investment companies            
Due from settlement of capital provision assets 120,422   164,804      
Total assets 3,456,199   5,769,096      
Liabilities:            
Financial liabilities relating to third-party interests in capital provision assets 101,591   858,491      
Total liabilities 101,591   858,491      
Net total 3,354,608   4,910,605      
Level 3 | Single case            
Capital provision assets            
Derivative financial assets 849,809   819,515      
Level 3 | Portfolio            
Capital provision assets            
Derivative financial assets 1,452,072   3,383,317      
Level 3 | Portfolio with equity risk            
Capital provision assets            
Derivative financial assets 35,819   38,524      
Level 3 | Legal risk management            
Capital provision assets            
Derivative financial assets 6,525   5,737      
Level 3 | Joint ventures and equity method investments            
Capital provision assets            
Non-derivative financial assets 218,765   189,488      
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 671,406   650,616      
Level 3 | Core legal finance (EP Funds)            
Assets of consolidated investment companies            
Assets of consolidated investment companies 35,526   451,407      
Level 3 | Lower risk legal finance (Advantage Fund)            
Assets of consolidated investment companies            
Assets of consolidated investment companies 65,855   65,688      
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