We start with the downside.
Who gets paid first, what the collateral is worth in a bad year, and how the structure holds up when assumptions break.
How we underwrite
Data at the lowest level
Loan tapes, static-pool loss histories and case-level inventories. If the data isn't there, we pass.
Protection in the documents
Borrowing bases, eligibility criteria, reporting rights and cash controls, written into the contracts.
Duration we can carry
Claims and residuals pay on their own timetable. A slower outcome should cost time, not principal.
Reporting asset by asset
Investors see each position, and each case for litigation finance, through to final resolution.
Five steps, every transaction
- 1Source
- 2Underwrite
- 3Structure
- 4Place
- 5Manage
Representative transactions
Completed by Kitetail's partners at a prior firm.
Purchase and placement of a consumer loan ABS residual
Warehouse facility for a point-of-sale lender
Preferred equity financing
Revolving credit facility for a listed consumer brand
Portfolio funding for institutional abuse claims
Funding for technology platform child safety claims
Committed mass tort facility to a plaintiffs' firm
Not a guide to future transactions.