Pogust Goodhead and Gramercy Funds Management LLC Announce $552.5 Million Investment Partnership
1.10.2023 16:13:00 EEST | Business Wire | Press release
Pogust Goodhead, a global law firm, and Gramercy Funds Management LLC (“Gramercy”), today announced that they have entered into a $552.5 million investment partnership in the form of a secured loan by Gramercy to Pogust Goodhead. This loan is the largest of its kind in a U.K. based law firm.
The loan transaction strengthens the firm’s financial power, ensuring Pogust Goodhead has ample funds to continue its litigation across the world and on behalf of environmental victims of corporate giants such as: BHP Group (BHP.AX), BMW (BMWG.DE), Fiat Chrysler (STLAM.MI), Ford (F), Honda (7267.T), Hyundai (005380.KS), Jaguar/Land Rover (JLR), Mazda (7261.T), Mercedes-Benz (MBGn.DE), Peugeot/Citroen (PEUG.PA), Renault Nissan (RENA.PA), Toyota (7203.T), Vauxhall (STLAM.MI), Volkswagen AG (VOWG.DE), and Volvo AB (VOLVb.ST).
The loan proceeds will fund the largest action of its kind against two of the biggest mining companies in the world – BHP Group (BHP.AX) and Vale (VALE3.SA) – for their part in the Mariana dam disaster in Brazil. Pogust Goodhead is representing over 720,000 victims of Brazil’s worst ever environmental disaster, with a trial date set for October 2024 in London. The loan proceeds will also support Pogust Goodhead’s litigation against 14 major automobile manufacturers over the Dieselgate scandal, on behalf of approximately one million U.K. consumers.
Tom Goodhead, Global Managing Partner and CEO of Pogust Goodhead, said:
“We are delighted to secure this major investment that will transform our business and give us the financial power to take on some of the largest companies in the world on behalf of millions of people. This landmark deal shows that global investors have good faith in the outcome of our cases. This investment will not only ensure that we bring our existing cases home, but we are putting global corporate giants on notice that we have the financial muscle to take them on for their wrongdoing.
We are taking on some of the largest companies in the world. These companies have access to infinite resources to litigate against these cases. This deal levels the playing field and gives us the ability to go toe-to-toe with them.
We are not trying to destroy these companies. We are taking them on for corporate misconduct, anti-competitive behaviour, corporate harm and misuse of the environment. The cases we are taking will set the bar for how serious we are, as a global society, about ensuring that big business is held accountable and upholds its obligations and responsibilities to the communities in which it operates.”
Harris Pogust, Chairman of Pogust Goodhead, said:
“Our mission is to defend the rights of those who have been wronged by some of the world’s largest multinational companies. In just the past two years we have secured historic settlements against British Airways and Volkswagen. We currently represent over one million individuals regarding the Dieselgate scandal. Additionally, we are handling the largest mass action in English history against the world’s two biggest mining companies. We are just beginning the journey to bring justice to those who most deserve it no matter where they reside and regardless of the size and perceived power of the corporate wrongdoer.
This transaction with Gramercy, a firm with deep expertise in litigation finance and patient capital, gives us the ability to bring the fight to any wrongdoer. They are now on notice that it is in their financial interests and those of their shareholders to settle or face a firm with both the financial resources and litigation skills to obtain the justice our clients rightly deserve. We are extremely excited to have Gramercy as an investor and as a partner as we seek global justice for the millions of clients we currently represent and the millions yet to come.”
Robert Koenigsberger, Managing Partner and CIO of Gramercy Funds Management, said:
“We are pleased to be partnering with Pogust Goodhead. The firm has an exceptional track record and we have been impressed by the team and their approach to complex litigation.
Allocating to this transaction is clearly consistent with Gramercy’s mission to positively impact the well-being of our clients, portfolio companies, and their communities. The investment materially aligns with our ESG and impact investing objectives. We are proud to play a part in helping Pogust Goodhead seek justice for some of the worst environmental actions over the past few decades.”
About Pogust Goodhead
Founded by Harris Pogust and Tom Goodhead in 2018, Pogust Goodhead is an international law firm headquartered in London, England. Its growing global partnership consists of over 100 lawyers and more than 500 staff members, all working to help individuals, groups, and businesses access fair and tangible justice.
The firm has been described as “the first legal unicorn”, following a trajectory more like a Fintech start up than a traditional law firm. Pogust Goodhead represents 1.9 million clients in cases across the world, seeking billions of dollars in damages.
Since its formation, Pogust Goodhead has become a world leader in environmental litigation. In 2022 the firm secured a landmark, unanimous judgment from the Court of Appeal that allows victims of the Mariana dam disaster to seek redress against BHP and now Vale, in the Courts of England and Wales. The firm’s cases against corporate giants TÜV SÜD, Norsk Hydro and Braskem are all centered around providing redress for claimants who have suffered through a total disregard for the environment they inhabit.
Pogust Goodhead is also at the cutting edge of international consumer claims, including historic settlements in the Volkswagen NOx Emissions Group Litigation in May 2022 and the victims of the British Airways Data Breach in 2021.
About Gramercy Funds Management
Gramercy is a dedicated emerging markets investment manager based in Greenwich, Conn., with offices in London, Buenos Aires and Mexico City. Founded in 1998, Gramercy serves a global institutional client base and seeks to provide investors with superior risk-adjusted returns through a comprehensive approach to emerging markets supported by a transparent and robust institutional platform. Gramercy offers both alternative and long-only strategies across emerging markets asset classes including multi-asset, private credit, public credit, and special situations. Gramercy is a Registered Investment Adviser with the SEC and a Signatory of the Principles for Responsible Investment (PRI), a Signatory to the Net Zero Asset Managers initiative and a Supporter of TCFD. Gramercy Ltd, an affiliate, is registered with the FCA. For more information, please visit www.gramercy.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231001679557/en/
Contact information
Pogust Goodhead
Head of Media Lauren Veevers LVeevers@pogustgoodhead.com
Director of Corporate Comms Simon Alcock SAlcock@pogustgoodhead.com
Head of Strategic Comms Brazil Priscilla Mendes PMendes@pogustgoodhead.com
Gramercy Funds Management
Steve Bruce/Keely Gispan
ASC Advisors
+1 203-992-1230
sbruce@ascadvisors.com
kgispan@ascadvisors.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Vertex Energy Announces 6,000 bpd Group III Base Oil Expansion Project24.6.2026 17:00:00 EEST | Press release
Vertex Energy, Inc. (“Vertex” or the “Company”) today announced it is advancing a project at its Mobile, Alabama refinery to produce crude-derived conventional Group III base oils through the Company’s existing hydrocracker and related processing infrastructure, providing lubricant manufacturers and blenders with an additional domestic source of high-quality Group III supply. The project is designed to add an incremental 6,000 barrels per day of conventional Group III production capacity and support production of 4 cSt, 6 cSt, and 8 cSt Group III base oils using an existing crude-derived hydrocracked vacuum gas oil stream produced at the Company’s Mobile, Alabama refinery. Combined with the Company’s existing re-refined Group III base oil production, this additional capacity is expected to make Vertex the leading Group III producer in North America. Vertex has completed preliminary design work and has procured a high-pressure lubricants hydrotreating unit. The Company plans to start pr
Taktile Secures $110M in Goldman Sachs-led Series C to Power AI Transformation in Financial Institutions24.6.2026 16:30:00 EEST | Press release
Taktile, the leader in AI transformation for financial institutions, today announced its $110 million Series C fundraise. Growth Equity at Goldman Sachs Alternatives led the round, with participation from Balderton Capital, Index Ventures, Tiger Global, Y Combinator, and Dig Ventures. Taktile Fast Facts Taktile enables banks and insurers to transform into AI-native organizations that are increasingly powered by autonomous agents. Demand for Taktile accelerated in 2025, as AI models became capable of automating high-stakes decisions that previously required hours of manual work—from underwriting business loans and assessing claims to catching financial crime. Customers automate and optimize decisions with Taktile by combining its financial services expertise and product built for sector-specific AI use cases. One of the world’s largest insurers is running multiple use cases on Taktile, with projected cost efficiencies of over $90M in claims processing alone. Taktile’s team has a proven
New MetLife Study Reveals a 72% “Confidence Gap” in Ability to Recover from Life's Setbacks24.6.2026 16:25:00 EEST | Press release
A new multinational study from MetLife reveals a striking “confidence gap”: while most adults describe themselves as resilient, their confidence drops by 72% when faced with real-life setbacks. The Confident Pathways Report, conducted across the United States, United Kingdom, Japan, and Mexico, was designed to better understand how confidence is built and sustained throughout life. The findings underscore the role of opportunity, preparedness, and support in building confidence - factors that help people navigate uncertainty, recover from setbacks and pursue their goals. At a time when soccer is bringing people and communities together around the world, the findings also highlight how early childhood experiences such as sports, education, and mentorship can help foster resilience and gain confidence from a young age. Key findings across the four countries surveyed include: Confidence drops by 72% when adults consider their ability to recover from setbacks. Respondents were far more lik
StatLab Launches CytoPath Disc, Advancing Standardized Cell Block Preparation Worldwide24.6.2026 16:08:00 EEST | Press release
StatLab Medical Products, a leading global developer and manufacturer of pathology supplies and equipment, today announced the global launch of the CytoPath Disc, an innovative cell block preparation technology designed to standardize and simplify cell block preparation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260624368623/en/ Developed as an alternative to traditional cell block methods, which convert concentrated cells suspended in fluid into a paraffin-embedded format for slide-based evaluation, the patent‑pending CytoPath Disc offers a more streamlined and efficient approach. The CytoPath Disc absorbs concentrated cells within a simple, sponge-like matrix, which is then processed, embedded, stained, and sectioned using standard histology workflows. Traditional cell block preparation methods often present challenges in achieving consistent results due to complex procedures, as well as the need for additional equipm
TensorX Launches With €8M Seed Funding Round Led by Darius Cubed Ventures for Bet on European Sovereign AI Infrastructure With Plans to Deploy up to €100M in NVIDIA Blackwell GPUs24.6.2026 16:07:00 EEST | Press release
A team of Irish founders has committed €8 million to Nvidia Blackwell GPUs, including the latest B300 chips, to launch TensorX, a sovereign AI inference platform designed for Europe's AI builders, trusted by regulated industries and already generating revenue from paying customers. The company was founded by Shane Morton, is part of the NVIDIA Inception program and is partnering with Dell on sourcing GPU hardware. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260528791384/en/ (From left to right): Craig Donnelly, Shane Morton, Nicole Morton, Tim Grant At a time when enterprises are racing to adopt artificial intelligence but most remain unwilling to let their data leave European jurisdiction, TensorX offers high-performance inference with zero data retention, running entirely on dedicated hardware in Dublin and Helsinki. TensorX is also in advanced talks around a financing facility to further expand its European footprint,
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom