17 December 2019

Jersey-based firm lists in London to fund US and European growth

Alternative asset management specialist MJ Hudson raises £31m after listing on London's AIM market

Jersey-based alternative asset management legal adviser and consultancy MJ Hudson has targeted the US and Europe for growth after raising £31.4m on London’s Alternative Investment Market (AIM). The firm was originally founded as a specialist private equity funds law firm by leading UK lawyer Matthew Hudson in 2010 and has since branched out into providing regulatory advice and administrative services to alternative asset managers.

In a statement, it said it was ‘delighted to have received such strong support from the market, particularly as many IPOs have struggled, in the current environment’.

It said it intended to use the new funds to grow its business outsourcing, advisory and data and analytics divisions and secure further growth including by way of acquisitions within the UK, US and Europe.

Hudson added: “As a highly ambitious growth company, one which we started from scratch, we see the public markets as our natural source of long-term capital.”

Hudson co-founded legacy UK firm SJ Berwin’s market-leading private equity team followed by stints heading up O’Melveny & Myers’ London office before leading the launch of Proskauer in the UK capital in 2007.

The firm currently boasts a staff count of 180 and reported turnover of 16.7m for FY2019, up from £11.2m in FY2017. The assets managed and advised by the firm’s 750 clients exceed $1trn. 

It obtained its licence to provide legal advice in England and Wales as an alternative business structure (ABS) in June 2014 and has 30 registered solicitors working out of its City of London office.

It opened its first US office in New York in September.

Yesterday’s listing took the market cap of the company - the seventh ABS to list - to £97.6m.

Last week top 50 UK law firm DWF, which listed on the London Stock Exchange in March, announced the acquisition of 40-partner Spanish outfit Rousaud Costas Duran (RCD) for up to €50.5m (£42.5m).

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