Alternative investment management firm Pretium is launching a litigation finance unit led by a former Kirkland & Ellis partner, providing more evidence that the litigation funding industry continues to exert an appeal to players from the wider investment world.

Pretium, with over $26 billion in assets under management, is putting former Kirkland and Weil, Gotshal & Manges partner Matthew Cantor, who joined the company last summer, in charge of its legal opportunities investment team.

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