NorthWall Capital (NorthWall), a credit investment firm delivering private capital solutions to counterparties in Western Europe, has exited its investment in global law firm Pogust Goodhead following a $552m investment by Gramercy Funds Management LLC (Gramercy).
The investment partnership between Pogust Goodhead and Gramercy will refinance NorthWall’s €178m financing relationship with the law firm. Following the transaction, NorthWall will retain an ongoing partnership with Pogust Goodhead with substantial exposure to the firm and future potential upside.
NorthWall’s partnership with Pogust Goodhead began in 2021 and over the course of three investments expanded to €178m. Most recently, in July 2022, NorthWall provided an incremental £100m funding partnership to Pogust Goodhead, which was understood to be the largest investment made in a UK claimant law firm at the time. These investments were made through a combination of NorthWall’s flagship European Opportunities and dedicated Legal Assets investment strategies.
The financing facilities provided by NorthWall have helped Pogust Goodhead to establish its position as one of the leading global law firms in environmental litigation and supported it in pursuing international consumer claims against some of the world’s largest corporations including BHP Billiton, Vale, Volkswagen and British Airways.
