Private investment firm Longford Capital has hired William Strong as chairman. The appointment is effective May 1, 2014. Previously, Strong served as a member of Morgan Stanley‘s global management committee. He was also a co-CEO for its Asia Pacific region and vice chairman of investment banking.
CHICAGO, March 31, 2014 — Longford Capital today announced that William H. (Bill) Strong, 61, will join the private investment company specializing in litigation finance as chairman, effective May 1. At that time, Mr. Strong also will be admitted as a partner of Longford Capital Management, LP, and as a member of Longford Investment Group, LLC.
A prominent international investment banker, Mr. Strong has worked in the financial services industry for more than 35 years, most recently as a member of Morgan Stanley’s Global Management Committee and co-CEO for its Asia Pacific Region, and previously as vice chairman of Investment Banking. During his career, he has advised clients in more than 25 countries involved in capital-raising transactions across all product classes. He has held posts in Chicago, New York, London, and Hong Kong.
Mr. Strong is the former chairman of the Board of Trustees of the Chicago Symphony Orchestra Association and serves as a life trustee; he also serves as a trustee of the Newseum, Inc., in Washington, D.C., and as a member of the Global Advisory Board of the Kellogg School of Management of Northwestern University.
“I have worked with Bill for over 20 years. He is a superb finance executive and a thoughtful, experienced leader,” said Paul J. Finnegan, co-CEO of Madison Dearborn Partners, LLC, a leading private equity firm with aggregate capital of over $13 billion.
At Longford Capital, Mr. Strong will spearhead the development of litigation finance as a rapidly growing form of specialty finance. Longford Capital makes equity investments in meritorious, business-to-business legal claims with $25 million to more than $1 billion in controversy.
“Bill is one of the most widely respected finance executives in the United States and overseas. His deep grasp of capital markets and trusted relationships within the global banking and investment communities will help us build on our strengths and accelerate the use of litigation finance as a powerful tool for companies involved in litigation. We expect Bill’s active leadership to reinforce our position as an innovator in the commercial litigation finance industry,” said William P. Farrell, Jr., co-founder and managing director of Longford Capital.
“This emerging finance sector will experience significant growth. From an asset class development perspective, litigation finance today is where private equity was in the early 1980s,” said Strong.
The demand for litigation finance has continued to grow since it began to gain the attention of corporate law firms and corporate claim owners in the United States less than five years ago. This form of specialty finance is more developed in other jurisdictions, including Australia and the United Kingdom. Longford Capital is among a handful of investment companies in the United States dedicated to commercial litigation finance.
“In my experience, commercial litigation finance can be quite beneficial to corporate litigants. I have secured significant trial verdicts for clients that have had the benefit of litigation financing and I wouldn’t hesitate to represent a client funded by Longford Capital,” stated Barry Ostrager, partner and former longtime chair of the litigation department of Simpson Thacher & Bartlett LLP.
“Few, if any, litigation finance firms have the combination of litigation, business, and finance talent that Longford Capital offers. I will be working to expand the platform Longford Capital has already developed to respond to strong market demand for this form of financing,” Strong added.
Previously, Mr. Strong served as a member of the Board of Visitors of the United States Military Academy at West Point, New York, having been appointed by President George W. Bush. He was appointed by Indiana Governor Mitchell E. Daniels, Jr. to serve as a trustee of Indiana University; and by the chief executive of the Hong Kong Special Administrative Region, The Hon. Leung Chun-ying, to the Financial Services Development Council in Hong Kong.
Mr. Strong is a Certified Public Accountant, a graduate of Purdue University, and earned an MBA degree from Northwestern University’s Kellogg School of Management.
About Longford Capital
Longford Capital is a private investment company that provides capital for use by companies pursuing meritorious legal claims. Typically, it funds attorneys’ fees and other costs necessary to pursue claims in return for a share of a favorable settlement or award. The firm manages a diversified portfolio of legal claims and considers investments in subject matter areas where it has developed considerable expertise, including, business-to-business contract claims, antitrust and trade regulation claims, intellectual property claims (including patent, trademark, copyright, and trade secret), fiduciary duty claims, fraud claims, claims in bankruptcy and liquidation, domestic and international arbitrations, and a variety of others.
Visit www.longfordcapital.com for more information.