Litigation funder Burford Capital has raised £80m following a share placing on the London Stock Exchange’s alternative investment market (AIM).

The placing means that Burford has become the second UK-listed third-party litigation funder, after Juridica Investments listed on AIM in December 2007 and raised £80m. Juridica raised a further £35m in March this year.

Burford will initially focus on commercial disputes in the US and international arbitration, but said that it may in the future turn its gaze to other areas.

The company placed 80 million shares at 100p per share. Unconditional trading on AIM is expected to begin on 21 October.

Christopher Bogart, principal of Burford Group, said: ‘We look forward to becoming a listed fund that gives shareholders access to an exciting, uncorrelated and growing asset class.’

Burford said in September that it planned to raise up to £200m.

US firm Latham & Watkins advised Burford on the placing.