Litigation funder Burford Capital has boosted its asset base to over half a billion dollars (£0.2bn) after issuing $150m (£88m) of bonds on the London Stock Exchange.

In an announcement today, Burford said it intends to use the proceeds, which bring its cash in hand to more than $200m (£117m), to continue the growth of its litigation finance business.

US-based Burford provides funding for litigation and arbitration matters in both the US and the UK. In the first six months of 2014 it provided £62m to fund new cases.

Its chief executive Christopher Bogart (pictured) said the latest capital brings Burford’s asset base above a half a billion dollars. 

He said: ‘We are very pleased with the market response to our bond issue and we now look forward to committing this additional capital, and continuing to work with our existing clients while also continuing to broaden the reach of Burford’s corporate financing solutions.

The third-party litigation funder was listed on the London Stock Exchange’s alternative investment market (AIM) in 2009. Since then it says 25 investments have generated £88m, producing a 52% net return on invested income.

Its latest annual report showed its profits had grown to £25.5m in 2013, compared with £20.5m in 2012. Turnover grew from £32.3m to £36.5m.