Top Credit Suisse Banker Joins Parabellum Capital, a Leader in Legal Finance; Firm Secures Substantial Capital Facility
NEW YORK, Jan. 24, 2013 /PRNewswire-iReach/ -- Howard Shams, a fifteen year veteran of Credit Suisse, has left the bank to co-lead Parabellum Capital LLC, an investment firm specializing in capital investments in corporate litigation and in the business of law. Separately, Parabellum announced that it had secured capital facilities in excess of $200 million dedicated to such investment.
At Parabellum, Shams will rejoin an investment team he founded in 2006 at Credit Suisse. The team, led by Aaron Katz, was known at Credit Suisse as the Legal Risk Strategies & Finance group and spun out of the bank last year. The group was the first to develop the business of commercial litigation finance in the United States, an activity that provides non-recourse financing for, or investment in, commercial legal claims.
"Our goal in creating this business was to offer liquidity and hedging products to our corporate clients who rightly viewed legal claims as valuable assets - or substantial liabilities," said Shams. "But as alternative fee arrangements grew in popularity and lawyers began taking risk in pursuit of their clients' claims, our products became increasingly relevant. Lawyers who are competing in today's business environment must have a trusted capital partner by their side who understands both finance and the business of law."
Shams brings to Parabellum substantial experience as a lawyer and investment banker. At Credit Suisse and its predecessor firm, Donaldson, Lufkin & Jenrette, Shams was responsible for the development and management of a number of businesses focused on special situations and alternative asset classes including vendor receivables, distressed loans and loan-based derivatives.
"Howie's 15 years of banking experience and the relationships he built during that period will be a key driver of Parabellum's business in the years to come,'' said his partner Katz. "While he was a successful lawyer for over a decade, his training in credit, structuring and client service are essential to serving the capital needs of corporate law departments as well as leading law firms. There is no one else in our industry with his combination of legal finance and investment structuring expertise."
About Parabellum Capital
The members of Parabellum Capital were the first to develop the business of commercial litigation finance in the United States. Parabellum provides a variety of legal finance products and services that focus upon capital partnering in risk-based alternative legal fee programs. Among its offerings are commercial case financing of both fees and costs; hedging and monetization of affirmative claims; funding for portfolio-based corporate recovery initiatives (including Intellectual Property enforcement); and non-recourse debt solutions for law firms.
For further information about Parabellum Capital, please contact:
Parabellum Capital LLC
880 Third Avenue, 11th Floor
New York, NY 10022
General Telephone: (212) 726-2640
Riva Atlas on behalf of Parabellum Capital, (212) 980-3345, firstname.lastname@example.org
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SOURCE Parabellum Capital LLC