Pougst Goodhead (was PGMBM) have announced a new £100million funding partnership with North Wall Capital which will help the firm to continue to provide access to justice to victims of corporate wrongdoings.
The partnership will enable PGMBM to continue the fight against multinational companies and the harm they are causing to the environment, public health, or financially.
This agreement expands the total size of our partnership with North Wall Capital to £150million and is believed to be the largest investment in a UK claimant law firm to date.
“We are very pleased to announce the continuation of our partnership with North Wall”, said Harris Pogust, Pogust Goodhead Chairman.
“Our goal is to defend the rights of those who have been wronged by some of the world’s largest companies. Since we agreed on our original partnership, Pogust Goodhead has continued to go from strength to strength and has grown to over 500 brilliant and passionate employees and over 1,000,000 clients spanning several countries.
“This latest funding will help us as we continue to grow our claim book and seek to obtain justice for our deserving clients. We’ve been impressed with North Wall’s ability to grow with us and to continue to support our ambitions.”
Pogust Goodhead’s Managing Partner and CEO Tom Goodhead said: “With this funding behind us, we have a fantastic future ahead of us. In the past twelve months, we have successfully concluded group litigations against British Airways, Volkswagen and, just last week, we secured an extraordinary victory against the largest mining company in the world, BHP.
“With this support, we are looking forward to bringing home other cases. I am so proud of all the talented people we have on board and the brilliant work they do every day. I can confidently say that there is no law firm in the world currently doing as ground-breaking and cutting-edge work as PGMBM. We are only just getting started.”
Alexander Garnier, Founding Partner of North Wall, commented: “We are delighted to be able to continue to support Harris Pogust, Tom Goodhead and the team at Pogust Goodhead in their pursuit of justice for their clients with an innovative £100 million funding solution for the firm, increasing our total commitment to £150m. We have been impressed with how the firm has cemented itself as the leader in complex ESG-focused multi-jurisdictional group litigations. This transaction demonstrates North Wall’s growing commitment and conviction in the European legal assets space.”
Fabian Chrobog, Founder and Chief Investment Officer of North Wall added: “We’re pleased to complete our third investment in Pogust Goodhead, illustrating the long-term, scalable partnerships we cultivate with our counterparties. This significant financing package evidences our Firm’s creative approach to structured capital solutions that should generate attractive risk-adjusted returns for our investors.
“Our Firm continues to be committed to ESG-focused legal assets, and we are particularly pleased to continue to support a firm with such a strong commitment to championing consumer rights. We welcome many new and existing Limited Partners to the second vintage of our legal assets funds which targets compelling risk-reward from investments with strong downside protection.”