Fortress Investment Group, found in New York, is pleased to announce that it has entered into a definitive agreement with Vannin Capital Holdings Limited for the acquisition of Vannin’s Legal Assets business. This includes substantially acquiring all of its tangible and intangible assets, including its personnel, intellectual property rights and licenses, customer relationships, contracts, and agreements. Fortress Investment Group will integrate this new capability into its broader portfolio as part of its ongoing efforts to diversify both geographically and by-product offerings across Fortress’ legal services platform.
As part of the acquisition, Fortress Investment Group will be able to leverage Vannin’s established platform in the Channel Islands, not only for existing legal assets but also for other services that complement one another. With its offices in London and Jersey, Vannin has been providing asset recovery, corporate recovery, litigation support, and debtor finance services since the company was founded. Vannin’s core business is built on a structured, large volume services platform that provides recovery, litigation support, and debtor finance services for financial institutions and other creditors throughout the European legal jurisdiction. It currently employs many people across its two offices in New York and London.
By acquiring Vannin’s Legal Assets business, Fortress Investment Group has further expanded its legal services platform. It will also allow the company to continue to diversify and enhance the breadth of asset recovery options available through their Legal Assets platform, which includes litigation support financing, debtor finance, and international enforcement tools for both financial institutions and other creditors.
Furthermore, this acquisition will see Vannin employees will be moved to Fortress Investment Group’s legal function, which senior managing director Jack Neumark leads. Vannin’s employees will be part of the North American arm of Fortress’ broader Legal Assets business, which has been created to provide a range of asset recovery and restructuring services to financial institutions and other creditors.