v3.26.3
Fair value of assets and liabilities - Movements in Level 3 Financial Assets and Liabilities (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning of period $ 3,302,927 $ 5,649,910 $ 5,769,096 $ 5,410,483
Transfers into Level 3 0 0 0 0
Transfers 0 0 (23,043) 0
Deployments 194,764 276,106 695,066 971,811
Realizations $ (189,080) $ (294,865) $ (731,879) $ (1,117,722)
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Revenues Revenues Revenues Revenues
Income/(loss) for the period $ 149,063 $ 76,850 $ (2,242,928) $ 417,887
Foreign exchange gains/(losses) (1,475) (5,536) (10,113) 20,006
End of period 3,456,199 5,702,465 3,456,199 5,702,465
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning of period 93,000 823,430 858,491 747,053
Transfers into Level 3 0 0 0 0
Transfers between types 0 0 1,174 0
Deployments 1,960 (141) 8,485 12,101
Realizations $ 0 $ 0 $ (44) $ 0
Fair Value, Liability, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] Revenues Revenues Revenues Revenues
Income/(loss) for the period $ 6,798 $ 19,718 $ (766,209) $ 83,771
Foreign exchange gains/(losses) (167) (71) (306) 11
End of period 101,591 842,936 101,591 842,936
Single case        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning of period 768,850 807,141 819,515 1,052,519
Transfers into Level 3 0 0 0 0
Transfers 0 0 (11,940) (286,474)
Deployments 41,630 42,531 99,656 149,931
Realizations (32,791) (28,417) (120,600) (163,766)
Income/(loss) for the period 72,798 26,259 66,880 85,254
Foreign exchange gains/(losses) (678) (513) (3,702) 9,537
End of period 849,809 847,001 849,809 847,001
Portfolio        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning of period 1,389,446 3,235,173 3,383,317 3,053,800
Transfers into Level 3 0 0 0 0
Transfers 0 0 (6,580) 0
Deployments 45,053 77,074 181,508 138,853
Realizations (33,345) (22,582) (126,859) (85,489)
Income/(loss) for the period 51,110 64,375 (1,977,365) 239,862
Foreign exchange gains/(losses) (192) (53) (1,949) 6,961
End of period 1,452,072 3,353,987 1,452,072 3,353,987
Portfolio with equity risk        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning of period 39,259 76,951 38,524 65,041
Transfers into Level 3 0 0 0 0
Transfers 0 0 0 0
Deployments 92 92 272 272
Realizations 0 (28,326) 0 (28,326)
Income/(loss) for the period (3,532) (7,406) (2,977) 4,324
Foreign exchange gains/(losses) 0 0 0 0
End of period 35,819 41,311 35,819 41,311
Legal risk management        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning of period 6,210 8,447 5,737 6,442
Transfers into Level 3 0 0 0 0
Transfers 0 0 0 0
Deployments 0 0 0 0
Realizations 0 0 0 0
Income/(loss) for the period 352 (3,040) 1,001 (1,922)
Foreign exchange gains/(losses) (37) 7 (213) 894
End of period 6,525 5,414 6,525 5,414
Joint ventures and equity method investments        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning of period 216,341 180,779 189,488 154,220
Transfers into Level 3 0 0 0 0
Transfers 0 0 0 0
Deployments 0 1,390 12,303 1,390
Realizations (961) (488) (1,544) (1,313)
Income/(loss) for the period 3,837 (12,780) 22,499 7,538
Foreign exchange gains/(losses) (452) (106) (3,981) 6,960
End of period 218,765 168,795 218,765 168,795
Core legal finance (BOF-C)        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning of period 655,297 699,942 650,616 705,315
Transfers into Level 3 0 0 0 0
Transfers 0 0 (4,523) 0
Deployments 13,527 15,105 55,729 46,290
Realizations (21,709) (52,695) (84,785) (120,176)
Income/(loss) for the period 24,291 (6,755) 54,369 24,168
Foreign exchange gains/(losses) 0 0 0 0
End of period 671,406 655,597 671,406 655,597
Core legal finance (EP Funds)        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning of period 38,172 432,004 451,407 0
Transfers into Level 3 0 0 0 0
Transfers 0 0 0 286,474
Deployments 138 0 995 115,301
Realizations 0 0 0 0
Income/(loss) for the period (2,784) 10,583 (416,876) 40,812
Foreign exchange gains/(losses) 0 0 0 0
End of period 35,526 442,587 35,526 442,587
Lower risk legal finance (Advantage Fund)        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning of period 66,982 91,022 65,688 189,288
Transfers into Level 3 0 0 0 0
Transfers 0 0 0 0
Deployments 0 553 0 1,488
Realizations (2,817) (3,219) (6,253) (111,702)
Income/(loss) for the period 1,690 2,657 6,420 11,939
Foreign exchange gains/(losses) 0 0 0 0
End of period 65,855 91,013 65,855 91,013
Total capital provision assets        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning of period 3,180,557 5,531,459 5,604,292 5,226,625
Transfers into Level 3 0 0 0 0
Transfers 0 0 (23,043) 0
Deployments 100,440 136,745 350,463 453,525
Realizations (91,623) (135,727) (340,041) (510,772)
Income/(loss) for the period 147,762 73,893 (2,246,049) 411,975
Foreign exchange gains/(losses) (1,359) (665) (9,845) 24,352
End of period 3,335,777 5,605,705 3,335,777 5,605,705
Due from settlement of capital provision assets        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning of period 122,370 118,451 164,804 183,858
Transfers into Level 3 0 0 0 0
Transfers 0 0 0 0
Deployments 94,324 139,361 344,603 518,286
Realizations (97,457) (159,138) (391,838) (606,950)
Income/(loss) for the period 1,301 2,957 3,121 5,912
Foreign exchange gains/(losses) (116) (4,871) (268) (4,346)
End of period 120,422 96,760 120,422 96,760
Financial liabilities relating to third-party interests in capital provision assets        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
Beginning of period 93,000 823,430 858,491 747,053
Transfers into Level 3 0 0 0 0
Transfers between types 0 0 1,174 0
Deployments 1,960 (141) 8,485 12,101
Realizations 0 0 (44) 0
Income/(loss) for the period 6,798 19,718 (766,209) 83,771
Foreign exchange gains/(losses) (167) (71) (306) 11
End of period $ 101,591 842,936 $ 101,591 842,936
Core legal finance (EP Funds), third party interests        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
End of period   82,600   82,600
Core legal finance (EP Funds), other additions        
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]        
End of period   $ 80,000   $ 80,000