westbrooke partners with taurus capital to facilitate its growth in the funding of SA law firms
30 July 2020
Westbrooke Alternative Asset Management, through its private debt offering, is pleased to announce the closing of a 24 month senior debt facility with Taurus Capital. The facility will be utilised by Taurus to grow its South African law firm finance lending book.
Taurus is a leading provider of alternative funding solutions to the legal fraternity, boasting a deep understanding of the commercial intricacies, growth trajectories and constraints faced by the modern law firm. The provision of multi-disciplinary funding to law firms is widely practiced internationally, with Taurus pioneering this global best-practice solution in South Africa.
In terms of the transaction, Westbrooke provided a R20 million senior debt facility to Taurus which will facilitate the provision of working capital funding to firms ranging in size from boutique to large multi-partner law firms. The funding will be used by law firms which have been impacted by delays and limitations at the courts, the deeds office, the Road Accident Fund and other legal bodies.
Jonti Osher, Fund Manager at Westbrooke said: “We are proud to be a financing partner to Taurus and to assist them with their growth ambitions. We are very excited to see where this partnership leads.” Taurus Capital’s CEO Elad Smadja added: “With Westbrooke’s support, we are able to assist law firms to operate effectively and to continue providing access to justice for all South Africans.”