North Wall Doubles Money by Funding Law Firm Fighting ESG Cases

North Wall Capital LLP has more than doubled its money from funding a UK law firm’s pursuit of mass claims linked to environmental cases including a Brazilian dam disaster and Dieselgate.

The private credit investor reaped €210 million ($221 million) in profit after US hedge fund Gramercy Funds Management LLC provided a loan that refinanced the €178 million of funding North Wall had channeled to Pogust Goodhead, a London-based legal firm, according to an investor letter seen by Bloomberg. That amount could swell to €470 million depending in part on the firm’s success in winning its claims, North Wall said. ...