Burford Capital Limited (NYSE:BUR) Q3 2023 Earnings Call Transcript

And as to when it will be decided, it’s impossible to predict the timing of judicial decisions in the United States. The judge in this case has been relatively prompt, as we’ve seen, this year. The last set of briefing was filed only yesterday in terms of the motion for stay. So, she could decide it in 10 minutes or she could decide it some weeks from now, and we’ll just have to wait and see. And then, we have what I think will be our final question from the webcast from Andrew Shepherd Barron. Your cumulative lifetime IRR to end June was 29% and is now reported as 27%. Is this linked to the slightly longer duration reported or is it a definitional change? And the answer is it’s linked to the slightly longer duration. It’s not a definitional change at all.

We’ve reported those numbers in exactly the same way for a very long time. So it’s longer duration, but it’s also the impact of some older vintage stuff resolving as well. And so those kinds of fairly small fluctuations are not particularly concerning to us, given that we’re continuing to produce what we think are very desirable overall returns.

Christopher Bogart: And so, with that, I would like to thank all of you very much on behalf of Jon and Jordan and the rest of the Burford team for attending another one of these calls with us, for your thoughtful questions and for your ongoing support of Burford. Thank you all very much.

Operator: Thank you all for joining. I can confirm this does now conclude today’s call. Please have a lovely rest of your day, and you may now disconnect your lines.