Portfolio Manager - Litigation Finance Investments in London

Portfolio Manager — Litigation Finance Investments
Company: Witaris Capital
Division: Witaris Credit | Private Credit & Specialty Finance
Location: London, United Kingdom / Hybrid (with international investment exposure)
Employment Type: Full-time
Seniority: Senior Investment Professional
Reporting To: Head of Investments / Investment Committee (to be confirmed)
Compensation: Competitive base salary with performance-related incentives, dependent on experience
About Witaris Capital
Witaris Capital is a global investment firm focused on identifying and investing in attractive opportunities across private credit, specialty finance, venture capital and diversified asset classes. Our investment philosophy combines disciplined capital allocation, rigorous due diligence, conservative underwriting and active portfolio oversight to pursue sustainable, long-term, risk-adjusted returns. Through Witaris Credit, we invest across a range of private credit and specialty finance strategies, including consumer and business lending, asset-backed finance, receivables financing and litigation finance. As we develop our litigation finance investment activities, we are seeking an experienced and commercially driven Portfolio Manager — Litigation Finance Investments to lead investment analysis, portfolio construction and active management of litigation-related investment opportunities.
The Opportunity
The Portfolio Manager will play a central role in sourcing, evaluating, structuring, executing and managing litigation finance investments across selected international markets. The role combines institutional investment management, sophisticated financial analysis and a strong understanding of legal disputes, litigation outcomes and recoverability. Working closely with investment professionals, legal specialists, litigation funders, law firms and external investment partners, the successful candidate will be responsible for evaluating opportunities and managing a diversified portfolio of litigation-related investments. Investment opportunities may include:
Single-case commercial litigation funding.
Diversified litigation investment portfolios.
Arbitration finance and international dispute funding.
Law firm and litigation portfolio financing.
Enforcement and judgment monetisation opportunities.
Secondary investments and participations in existing litigation finance portfolios.
Structured financing arrangements involving litigation-related receivables.
The successful candidate will combine analytical rigour, legal-commercial judgment, investment discipline and active portfolio management expertise.
Key Responsibilities
1. Investment Origination & Opportunity Development
Identify and evaluate attractive litigation finance investment opportunities across relevant jurisdictions.
Develop relationships with specialist litigation funders, law firms, litigation boutiques, investment platforms, legal advisers and institutional counterparties.
Establish and maintain a high-quality pipeline of potential litigation finance transactions.
Assess opportunities presented through direct origination, co-investments, specialist investment managers and secondary transactions.
Identify new investment structures, partnerships and market opportunities that align with Witaris Capital's investment objectives.
Monitor developments in litigation funding markets, legal regulation, dispute resolution and investment competition.
2. Investment Underwriting & Due Diligence
Lead comprehensive commercial, financial and legal-investment due diligence, working with qualified legal advisers where appropriate. Responsibilities include:
Assessing the merits of underlying claims and the strength of available legal evidence.
Evaluating legal counsel's assessment of the probability of success.
Analysing potential damages, settlement values and litigation costs.
Assessing expected case duration, procedural milestones and funding requirements.
Evaluating defendant or respondent creditworthiness and recovery prospects.
Reviewing litigation budgets, legal fee arrangements and potential cost overruns.
Assessing enforcement risk, jurisdictional considerations and procedural complexities.
Reviewing adverse-cost exposure, security-for-costs requirements and available litigation insurance.
Evaluating counterparty risk, conflicts of interest and legal funding structures.
Identifying downside scenarios and assessing potential permanent capital loss.
Develop rigorous underwriting methodologies that incorporate legal risk, financial exposure, expected investment duration and recoverability.
3. Financial Modelling & Investment Returns
Develop and maintain detailed financial models for litigation finance transactions and portfolios. Responsibilities include:
Forecasting investment cash flows across potential litigation outcomes.
Modelling settlement, trial, appeal, enforcement and delayed-recovery scenarios.
Evaluating expected returns under multiple probability-weighted assumptions.
Calculating gross and net IRR, MOIC and other appropriate investment performance measures.
Assessing capital deployment schedules and follow-on funding commitments.
Quantifying capital-at-risk under adverse litigation outcomes.
Conducting sensitivity analysis on case duration, recoveries, legal expenditure and success probabilities.
Assessing how legal fee arrangements and funding waterfalls influence investor returns.
Reviewing investment concentration, correlations and portfolio-level loss exposure.
Ensure investment decisions are supported by clearly documented assumptions, robust downside analysis and an appropriate margin of safety.
4. Investment Structuring & Execution
Structure litigation finance investments to achieve an appropriate balance between risk, return and investor protections.
Negotiate investment terms with litigation funders, law firms, claimants and relevant counterparties.
Assess funding waterfalls, preferred returns, profit participation, repayment priorities and contractual protections.
Coordinate legal, financial, regulatory and operational due diligence processes.
Work with external counsel to review funding agreements, security arrangements, enforceability and relevant contractual documentation.
Prepare detailed investment memoranda and recommendations for the Investment Committee.
Support the completion, documentation, funding and closing of approved transactions.
Ensure transactions comply with applicable legal and regulatory requirements.
5. Portfolio Construction & Capital Allocation
Develop and manage a diversified portfolio of litigation finance investments. Responsibilities include:
Recommending investment allocations in line with approved portfolio mandates.
Managing exposure across litigation types, jurisdictions, counterparties and investment structures.
Monitoring concentration by legal counsel, funding partner, defendant, sector and underlying dispute.
Balancing single-case investments with diversified litigation funding portfolios.
Managing committed versus deployed capital.
Forecasting liquidity requirements and follow-on funding obligations.
Evaluating investment diversification and potential correlations between legal outcomes.
Identifying portfolio risks arising from delayed litigation, appeal processes and unsuccessful recoveries.
Recommending new investments, portfolio adjustments and secondary transactions where appropriate.
6. Active Portfolio Management & Recoveries
Maintain active oversight of investments throughout their legal and financial lifecycle. Responsibilities include:
Monitoring litigation progress, procedural developments and significant case milestones.
Reviewing periodic updates from legal counsel and funding counterparties.
Assessing material changes to claim merits, recovery prospects and settlement expectations.
Tracking litigation budgets, actual expenditure and further capital requirements.
Updating financial valuations and expected recovery timelines.
Reviewing proposed settlement arrangements from an investment and recovery perspective.
Monitoring enforcement processes and collection outcomes.
Escalating significant adverse developments and investment covenant breaches.
Recommending reserve adjustments, follow-on capital or exit opportunities.
Supporting the timely collection, reconciliation and distribution of investment proceeds.
The role requires an active approach to capital protection, risk monitoring and investment realisation.
7. Portfolio Valuation, Reporting & Governance
Maintain comprehensive investment and portfolio reporting.
Develop and update valuation methodologies suitable for illiquid litigation finance investments.
Prepare regular portfolio performance reports.
Track deployment, outstanding commitments, realised proceeds and unrealised investment exposure.
Monitor cash flow forecasts, investment duration and recovery performance.
Present portfolio updates, emerging risks and investment recommendations to senior management and the Investment Committee.
Maintain appropriate investment documentation, audit trails and decision records.
Support compliance with applicable fund governance, valuation and reporting policies.
Coordinate with external legal advisers, administrators, accountants and other service providers.
8. Investment Strategy & Market Development
Contribute to the development of Witaris Capital's litigation finance investment strategy.
Identify attractive jurisdictions, litigation categories and investment structures.
Evaluate specialist litigation investment managers and funding platforms.
Develop proprietary screening, underwriting and monitoring frameworks.
Monitor litigation finance market developments, regulatory changes and relevant legal precedents.
Support the identification of strategic partnerships and co-investment opportunities.
Recommend improvements to investment processes, technology, portfolio analytics and reporting.
Candidate Profile
Essential Experience
Typically 7–12+ years of relevant professional experience, with meaningful exposure to litigation finance, specialty finance, alternative credit, structured investments or legal asset investing.
Demonstrable experience evaluating and managing complex investments with uncertain timing and outcomes.
Strong investment underwriting, financial modelling and risk assessment capabilities.
Experience preparing and presenting investment recommendations.
Understanding of portfolio management principles, investment structures and capital allocation.
Experience managing external advisers, investment counterparties and due diligence processes.
Strong commercial judgment and attention to downside protection.
Excellent written and verbal communication skills.
Ability to work independently and take ownership of investment opportunities from origination through realisation.
Highly Desirable Experience
Direct experience in litigation finance or commercial dispute funding.
Experience investing in single-case litigation, litigation portfolios or arbitration finance.
Familiarity with third-party funding agreements, legal risk assessments and litigation funding waterfalls.
Experience analysing litigation outcomes and legal recovery scenarios.
Knowledge of commercial litigation, international arbitration, insolvency litigation or enforcement funding.
Experience working with litigation funders, specialist law firms, investment managers or institutional credit investors.
Understanding of litigation funding regulation in relevant jurisdictions.
Experience valuing illiquid, event-driven or contingent-return investments.
Existing professional relationships within the litigation finance ecosystem.
Education & Professional Qualifications
A strong academic background in one or more of the following:
Finance.
Economics.
Law.
Accounting.
Business.
Investment Management.
Relevant qualifications may include:
CFA designation.
ACA, ACCA or equivalent accounting qualifications.
Law degree or professional legal qualification.
MBA or other relevant postgraduate qualification.
Demonstrated investment expertise, sound commercial judgment and relevant transaction experience will be more important than qualifications alone.
Core Skills & Competencies
Investment Analysis: Strong financial modelling, scenario analysis, transaction underwriting and risk-adjusted return evaluation.Litigation Finance Expertise: Understanding of legal asset economics, case outcomes, settlement dynamics and recoverability.Portfolio Management: Ability to manage illiquid investments, outstanding commitments, concentration limits and expected investment realisations.Risk Management: Strong appreciation of downside exposure, contingent outcomes and investment duration and capital preservation.Commercial Negotiation: Ability to structure and negotiate complex financial arrangements with sophisticated counterparties.Relationship Development: Ability to build and maintain high-quality networks across litigation finance, legal services and alternative investments.Communication: Ability to translate complex legal and financial information into clear investment recommendations.Professional Integrity: Discretion, sound judgment, independence and a commitment to robust investment governance.
Key Performance Indicators
Area | Performance Measures
Investment origination | Quality of opportunities sourced and progression of suitable transactions
Underwriting | Rigour, accuracy and consistency of investment evaluation
Portfolio returns | Realised and appropriately measured unrealised risk-adjusted performance
Capital preservation | Downside outcomes, loss management and underwriting discipline
Portfolio diversification | Concentration management across cases, counterparties and jurisdictions
Investment execution | Quality and efficiency of approved transaction execution
Portfolio monitoring | Timeliness of risk identification and management actions
Recoveries | Realised proceeds relative to underwriting expectations
Capital management | Deployment discipline, liquidity planning and commitment management
Governance | Quality of reporting, documentation and investment oversight
Performance assessment will recognise the long-duration nature of litigation finance investments and will not rely solely on short-term capital deployment or unrealised returns.
What Witaris Capital Offers
The opportunity to help develop and manage a specialised litigation finance investment strategy within a global investment platform.
Exposure to alternative credit, specialty finance and complex investment opportunities.
Significant responsibility across origination, underwriting, execution and portfolio management.
Opportunities to work with experienced legal, investment and financial professionals.
A disciplined, research-led investment environment.
An international investment perspective.
Competitive compensation aligned with experience, responsibilities and long-term investment outcomes.
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