Litigation Finance Firm Gerchen Keller Closes Second Fund

Jan 15 2014 | 12:32pm ET

A litigation finance firm founded by two hedge fund veterans has raised its second fund, more than doubling its assets under management.

Gerchen Keller Capital said this week that it had raised $250 million for GKC Partners II, increasing its assets under management to more than $300 million. Some of the money in the new fund was rolled over from its first fund, which closed earlier last year with $100 million.

"As we complete our first year of operations, we are thrilled with our progress to date," CEO Adam Gerchen said.  "Our investors include some of the largest public pension, university endowment, and family office institutions in the United States.  We are grateful to all of them for their trust in and support of the team."

Gerchen and Ashley Keller founded the firm after working together at hedge fund Alyeska Investment Group.

Chicago-based Gerchen Keller invests in litigation between institutions, and has gotten involved in more than a dozen cases already. Several, the firm said, have already turned a profit.

The firm, which also features former Boeing Co. senior Counsel Travis Lenkner and former Synthes and Medtronic general counsel Terrance Carlson, also announced that it had added a principal and an analyst. The former is Adam Gill, late an intellectual-property partner at Kirkland & Ellis, and the latter is David Spiegel, also formerly of Kirkland.

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