Burford Capital reinforces its commitment to diversity in legal leadership by doubling its funding for cases led by diverse lawyers. This initiative, known as the Equity Project, now benefits from an additional $150 million, bringing the total allocation to over $300 million. To date, $170 million has been distributed across 19 diverse-led cases since 2018. Legal experts stress that promoting diversity in litigation is crucial but has been hampered by a lack of incentives. Burford’s funding provides a tangible solution to encourage law firms to support women and minorities in leading roles.
Burford Capital has reaffirmed its dedication to promoting diversity in legal representation by significantly increasing its investment in the Equity Project. This project, which aims to support cases led by female and ethnic minority lawyers, now benefits from an additional $150 million, raising the total funding pool to over $300 million since its launch in 2018.
The Equity Project has allocated $170 million to fund 19 cases thus far. Of these, 14 have been led by women, three by ethnic minority lawyers, and two by both female and ethnic minority lawyers. Despite the initiative’s scope, no cases were led by law firms owned by women or minorities, highlighting a limitation within the sector.
Akima Paul Lambert, a partner at Hogan Lovells and a notable advocate for the project, highlighted the persistent challenge in diversifying legal leadership. She noted the industry’s entrenched reliance on longstanding relationships, which often marginalises diverse individuals from leadership opportunities. Ms. Lambert observed: “This provides a tangible incentive for law firms to use more women and people of diverse heritage to lead their cases,” indicating the potential impact of Burford’s investment.
The Equity Project was initially launched with a $50 million allocation for female-led cases. In 2021, this was expanded with an additional $100 million, extending the funding to encompass cases led not only by female but also by ethnic minority lawyers. This financial support aims to dismantle barriers to leadership in litigation and arbitration, providing underrepresented groups with more opportunities to lead complex legal matters.
Incorporating a funding mechanism that directs a percentage of proceeds from successful cases to organisations promoting diversity in the legal profession further underscores Burford’s commitment. This approach not only supports individual careers but also contributes to broader systemic change within the legal industry.
While the challenge remains significant, with a limited pool of minority-owned law firms, Ms. Lambert remains hopeful. She has observed an increase in litigation and arbitration boutiques owned by women emerging in recent years. The Equity Project is viewed as a pivotal catalyst for sustaining and expanding this growth.
Burford Capital’s enhanced funding represents a crucial step towards meaningful diversity in legal leadership, promoting systemic change within the industry.
