Litigation Finance / DIP Financing / Government Receivables

Legalist

Legalist is what LexShares was trying to build and what Burford does at institutional scale — a technology-driven litigation finance manager with $2B AUM, 248 realizations across four funds, and a two-thirds win rate — but it is not accessible to retail or accredited investors. This is institutional only, and the minimum tells you everything you need to know about who it is built for.

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Platform Identity

Headquarters
San Francisco, CA, US
Founded
2016
Platform type
Institutional Alternative Asset Manager — Litigation Finance
Eligibility
qualified institutional

AltStreet Coverage

Review status
Published
Coverage type
Investment platform
Review date
May 6, 2026
Last updated
Aug 19, 2026
Composite score
4.3
Structural signals
12 total

Key Data Points

EDGAR-linked offerings
7
Filing-verified raised
$1.04B
Investors disclosed
426

Manager (Form ADV)

Investment adviser records matched to this platform from SEC Form ADV filings (IARD). Figures are manager-level — they describe the advisory firm, not any single offering on this page.

LEGALIST

SEC-Registered Adviser
CRD / SEC#
297876 · 801-117830
Status
Approved
Regulatory AUM
$1.92B
Private funds
13 · $1.49B gross assets(PE:13)
Item 11 disclosures
None reported
Main office
SAN FRANCISCO, CA
Latest ADV filed
Jun 29, 2026
View on IAPD (adviserinfo.sec.gov)

Item 11 disclosures are affirmative answers to Form ADV's disciplinary questions, which can include affiliate events — they are not a count of violations. Source: SEC Form ADV data, refreshed monthly.

Reference Reading

AltStreet reference pages on the filings and mechanics behind this platform's category.

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