
EJF Capital, Rocade Raise $470M for Credit-Focused Litigation Finance Platform
Alternative asset manager EJF Capital closed its fourth installment of litigation finance investment vehicles, Rocade Capital Fund IV LP and Rocade Capital Offshore Fund IV LP, with approximately $220 million in investor subscriptions and commitments.
Headquartered in the Washington, D.C. area, Rocade offers law firm financing services. Previously, EJF Capital and funds affiliated with Barings LLC formed a joint venture specialty finance company, Rocade LLC with $250 million of committed capital to invest alongside the funds. The combined capital commitments raised across Rocade and the funds total approximately $470 million.
Rocade facilitates loans ranging from $10 million to over $100 million secured by contingent fees receivable or other litigation assets. Since the strategy’s inception in 2014, Rocade and its predecessor have funded over $1 billion of loans.
“This expanded capital base will allow Rocade to quickly scale its platform and enable EJF to offer investors access to what we believe is an uncorrelated asset class with a credit-focused approach that offers attractive risk-adjusted returns,” said Emanuel Friedman, co-founder and co-CEO of EJF Capital.