Global litigation fund IMF Bentham
(ASX:IMF) has announced the sale of its US investment portfolio to the IMF Bentham Fund 1 through its wholly owned subsidiary Bentham Capital.
IMF will see net cash of approximately US$47.8 million, while also retaining a material interest in the sale portfolio through its participation in the fund.
In addition, Fund 1 will upsize to US$166.3 million from US$133 million.
IMF will be entitled to 85 per cent of any profits on the sale investments realised by Fund 1 after payment of preferred dividends and other expenses of the fund.
The company will retain ownership of five investments in the US investment portfolio.
Shares in IMF Bentham
(ASX:IMF) closed just over 4 per cent higher on Friday at $3.32.
