Litigation Finance Firm Contingency Hires Southpaw’s Jeff Cohen

Contingency Capital, a litigation finance firm founded last year, said it hired Jeff Cohen from distressed debt fund Southpaw Asset Management as partner and managing director.

New York-based Cohen was partner and managing director at Southpaw since its inception in 2005, according to an emailed statement from Contingency. He focused on distressed and special situations investments, including litigation opportunities.

Cohen couldn’t immediately be reached for comment.

In litigation financing, funds back lawsuits in return for a slice of the proceeds if they win. The appeal of the illiquid asset class is growing amid a global shortage of yield-bearing assets ...