STAMFORD, Conn.–(BUSINESS WIRE)–Battea Class Action Services, LLC (“Battea” or “the Company”), a global provider of turn-key expert class, collective, antitrust and securities litigation recovery services, announced a $100 million minority equity investment from TowerBrook Capital Partners L.P. (“TowerBrook”), an international investment management firm.
Battea services nearly 1,000 global financial investment and trading institutions and focuses on analyzing, asserting, and successfully recovering losses from its clients’ investment activities, when subject to class, collective or opt-out settlements in antitrust and securities litigation.
The Company has consistently expanded its global footprint through extensive investments in transaction onboarding automation, state-of-the-art transaction identification, loss modeling, audit and process tracking technology. These efforts are supported by a team of financial markets subject matter experts with strong follow-through recovery skills and capabilities across all trading instruments, not only equities and fixed income, but also all forms of derivatives, foreign exchange, commodities, other listed and OTC investment instruments.
“This transaction allows us to reinforce our leadership and commitment to our clients. Battea is a strong and profitable company, and we are squarely focused on delivering uncompromised results to our clients in all matters from the simplest claims filings to the most complex and challenging situations, both domestically and internationally,” noted Peter K. Hansen, Chair of Battea.
In connection with the transaction, a new Board has been appointed, comprising incumbent board members Peter Hansen (Chair), and Lars Kragh (Chief Information Officer), and new directors Michael Carpenter, Luke Doramus, and Jeff Goshay.
Before joining Battea’s Board, Mr. Carpenter served as CEO of Ally Financial and CEO of Citi Global Corporate and Investment Bank. Mr. Doramus currently serves as Managing Director at TowerBrook. Mr. Goshay is the Founder of Headwaters Capital and a 20-year member and original co-founder of Battea.
Battea was advised by Olshan Frome Wolosky LLP. TowerBrook engaged Oliver Wyman as its commercial advisor and Sidley Austin LLP as its legal counsel.
TowerBrook Capital Partners is a purpose-driven investment management firm headquartered in New York and London. The firm has raised in excess of $17.4 billion to date and invests in private equity and structured opportunities through its family of funds. As a disciplined investor with a commitment to fundamental value, the firm seeks to deliver superior, risk-adjusted returns to investors on a consistent and responsible basis. TowerBrook’s value creation strategy aims to transform the capabilities and prospects of the businesses in which it invests. TowerBrook is the first mainstream private equity firm to be certified as a B Corporation. B Corporation certification is administered by the non-profit B Lab organization and is awarded to companies that demonstrate leadership in their commitment to environmental, social and governance (ESG) standards and responsible business practices. For more information, please visit www.towerbrook.com.
About Battea Class Action Services, LLC:
Battea Class Action Services, LLC is a global leader and expert in all stages of asserting and processing settlement claims in connection with antitrust and securities litigation. The company has been a leader in the space for 20 years, serving nearly 1,000 institutions around the world, including many of the world’s largest banks, hedge funds, asset managers and buy-side investors. The landscape for U.S. class actions, international securities litigation and securities centered anti-trust litigation has evolved rapidly around the globe. With deep roots in the claims filing and financial technology sectors and its global presence, Battea is optimally positioned to help clients navigate the increasingly complex process of obtaining trustworthy information about litigation that impacts their investments and businesses. The combined experience of the Battea team is unrivaled among industry peers and brought to bear for its clients, guiding them through the entire cycle of the litigation and settlement process. For more information, please visit www.battea.com.