Heirloom

What Heirloom does

Heirloom is a private boutique alternative investment management firm founded in 2015 in Wilmington, Delaware, that originated as the in-house investment function of a Canadian single family office. The firm offers differentiated alternative investment solutions to sophisticated investors — including high-net-worth individuals, single and multi-family offices, small institutions, and wealth advisors — with minimum investments of approximately $1 million. Heirloom targets 9-11% net returns via uncorrelated, asset-backed strategies spanning litigation finance, legal lending, equipment leasing, hard assets, niche real estate, infrastructure, and private credit, with the underlying view (citing academic research and McKinsey) that 90% of portfolio return is driven by top-down allocation.

The firm's product suite is anchored by the Heirloom Fixed Return Fund SP (Cayman-domiciled since June 2016, opened to external investors in 2017), which offers two share classes: an Alternative Yield Share Class with traditional 1% management and 10% performance fees, and a Fixed Return Share Class with no management fees but manager-owned Loss Absorption Shares that absorb losses before investors are affected. Additional products include the Legal Lending Fund (secured loans of $5-50mm to US law firms at 17-23% interest rates), UK Litigation Finance co-investment in A-rated-insured consumer protection claims, and episodic co-investment pools (helicopter leasing, bulk shipping, listed investment company discounts). Heirloom delivers revenue through management fees, performance fees, co-investment equity economics in bespoke SPVs, and transaction-based returns from legal lending.

Heirloom operates with 11-50 employees across offices in Wilmington (Delaware), Palm Beach Gardens (Florida), George Town (Cayman Islands), and Dubai (UAE, regional HQ at Emirates Towers). Distribution is direct and relationship-based, relying on thought-leadership content (newsletters, LinkedIn, podcasts, articles) and industry recognition (Hedge Fund Manager of the Year 2018 and 2022, BarclayHedge #1 ranking in Fixed Income – Asset-Backed Loans for December 2022). The firm is led by Founder, CEO, and CIO Geoff Dover, who originally developed the cross-asset macro-thematic strategy that has delivered 11.2% annualized returns since 2009 for the founding family office.

Name

Heirloom

Legal name

Heirloom Holdings

Website

https://heirloominvesting.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Heirloom is a private boutique alternative investment manager founded in 2015, offering uncorrelated, asset-backed funds (Fixed Return Fund, Legal Lending Fund, UK Litigation Finance) to high-net-worth individuals, family offices, small institutions, and wealth advisors with $1mm+ minimums.

Ownership category

akta.pro rank

Product category

Alternative Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282), Investors, Nec (6799), Finance Services (6199)

akta.pro primary industry

Family Wealth & Multi-Generational Planning RIAs (HNW/UHNW-lite) (FSAAACAH)

akta.pro secondary industries

Single-Family Offices (SFOs) (FSAAADAA), Real Estate Funds — Core (Stabilized, Income) (FSANAEAF)

Keywords

• Alternative asset management
• Litigation finance
• Legal lending
• Managed accounts
• Co-investment pools

Headquarters

HQ city

Wilmington

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees: Traditional fund management fees charged on assets under management. For the flagship Heirloom Fund: 1% management fee on the Alternative Yield Share Class. The Fixed Return Share Class has no management fees.
2. Performance Fees (Carry): Performance fees on investment returns above hurdle rates. For the flagship Heirloom Fund: 10% performance fee on the Alternative Yield Share Class. The Fixed Return Share Class structure has Heirloom earning returns above investor fixed return targets only, with economics reinvested into fund equity.
3. Co-investment Economics: Heirloom co-invests alongside external investors in specific transactions (litigation finance, real estate, private credit) and earns enhanced economics through combined buying power. The firm does not charge fees to co-investment SPVs and earns returns via equity ownership.
4. Legal Lending Fund: Returns from providing secured loans to US law firms, with interest rates typically in the 17%-23% range. Net investor returns of 14-16% with default rates of approximately 2% since 2010.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

Heirloom is a boutique investment management firm that manages alternative investment funds and co-investment pools focused on niche, uncorrelated, asset-backed strategies such as litigation finance, legal lending to US law firms, equipment leasing, hard-asset lending, and special-situation opportunities. It offers the flagship Cayman-domiciled Heirloom Fixed Return Fund (with Alternative Yield and Fixed Return share classes), the Legal Lending Fund, and tailored managed accounts/bespoke advisory services for sophisticated investors.

Product overview

Heirloom offers a suite of alternative investment solutions centered around its flagship Alternative Yield Fund, which combines asset-backed lending, equipment leasing, agriculture, niche real estate, infrastructure, and legal finance themes. The firm provides multiple access routes including the main Heirloom Fixed Return Fund SP (with Alternative Yield and Fixed Return share classes), the Legal Lending Fund for US law firm financing, co-investment pools for specific opportunities like UK Litigation Finance and helicopter leasing, and managed account/bespoke advisory services tailored to individual investor parameters. The firm specializes in niche alternatives that are difficult for most investors or advisors to access or effectively diligence, focusing on uncorrelated, asset-backed investments.

Differentiator

Problem solved

Functional benefit

Brands

• Heirloom Fixed Return Fund: An uncorrelated portfolio of asset-backed and/or income-earning investments designed as an alternative to fixed income in investment portfolios. Offers both Alternative Yield Share Class and Fixed Return Share Class options.
• Alternative Yield Fund
• Legal Lending Fund
• Heirloom Fair Legal
• Heirloom Litigation Funding SPV

Products and services

• Heirloom Fixed Return Fund SP (Alternative Yield Fund) Flagship Cayman-domiciled fund offering an uncorrelated portfolio of asset-backed and income-earning investments. Available via Alternative Yield Share Class (traditional structure with 1% management and 10% performance fees) and Fixed Return Share Class (no management fees, manager-owned Loss Absorption Shares absorb monthly losses first). USD, EUR, and CAD denominated. Targets 9-11% net returns.
• Heirloom Legal Lending Fund US-focused fund providing secured loans ($5-$50mm) to US law firms backed by client receivables and partner personal guarantees. Interest rates typically 17-23% with net investor returns of 14-16% and default rates around 2% since 2010.
• Co-Investment Pools Periodic, time-limited co-investment vehicles (typically open 1-3 months) for specific opportunities including UK Litigation Finance, Helicopter Leasing, Bulk Shipping, and listed investment company repositioning. Heirloom co-invests alongside external investors with enhanced economics.
• UK Litigation Finance SPV Litigation funding SPV for UK Consumer Protection cases (fast-track, £5-50k per case), backed by A-rated insurance covering adverse costs and own costs. Targets 12% yield paid quarterly on 1-year loan notes/preferred equity.
• Managed Accounts

Quantifiable outcome

• 11.2% annualized returns since 2009 from the core macro-thematic investment strategy
• +10 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Various US Law Firms (Legal Lending)coreStrategic or Co-development PartnerHeirloom provides loans to US law firms secured by a diverse portfolio of client receivables and backed by law firm assets and personal guarantees from equity partners. The firm evaluates underlying case collateral and lends at Loan-to-Values of 20-30%. Law firms act as the first layer of evaluation for case merits, aligning their interests with the lender.
• UK Law Firms (Litigation Finance)coreStrategic or Co-development PartnerHeirloom enters partnerships with UK law firms to fund consumer protection claims. Law firms use Heirloom's standardized documentation and refer claimants requiring funding. Solicitors work on a 'no-win-no-fee' basis, aligning Heirloom with law firms' success. Claims are vetted by independent experts selected by Heirloom, and the Investment Committee reviews each claim before funding.
• Harmony Capital Investors Limited (HCIL)minorStrategic or Co-development PartnerHarmony Capital Investors Limited serves as the Investment Manager for Jade Road Investments. Heirloom has a relationship with HCIL as part of its co-investment in Jade Road. HCIL has an amended Services Agreement with Jade Road reducing management fees to $350,000/year.
• A-Rated Insurance Companies (UK Litigation Finance)coreOthersAll UK litigation finance fundings carry insurance from an A-rated (or higher) insurer covering full costs of funding in all events including plaintiff fraud. Insurance covers both adverse costs and own costs in the event a claim is denied, protecting Heirloom's principal funding and often providing coverage of anticipated return as well.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Burford Capital: Largest publicly traded litigation finance firm. Directly comparable to Heirloom's UK Litigation Finance and US legal lending strategies, with both firms funding commercial and consumer legal claims and sharing underlying exposure to litigation outcomes.
• Omni Bridgeway: Global commercial litigation funder (formerly IMF Bentham). Closest direct peer to Heirloom's litigation finance offering given portfolio diversification across jurisdictions, single-case and portfolio funding, and similar institutional investor base.
• Therium Capital Management: UK-based litigation finance firm funding commercial claims and consumer disputes. Comparable to Heirloom's UK consumer protection co-investment offering, with similar underwriting model and law firm partnerships.
• Calunius Capital: London-based litigation finance firm. Directly comparable to Heirloom's UK Litigation Finance operations in terms of claim size, UK law firm partnerships, and insurance-backed funding structure.
• Counsel Financial: US legal lending firm providing financing to plaintiff and defense law firms. Directly comparable to Heirloom's Legal Lending Fund in target market, loan size range, and receivables-collateralized structure.

Emerging players

• Certares Management: Alternative investment manager focused on opportunistic credit and special situations. Comparable to Heirloom's niche alts thesis and family office / institutional LP base, though operating at larger scale and broader mandate.
• iCapital Network: Alternative investments platform providing HNWIs and advisors access to hedge funds, private credit, and structured products. Comparable to Heirloom in serving the HNW / family office demand for niche alts, though as an aggregator rather than a manager.
• Versus Capital Group: Alternative investment manager focused on real assets and private credit for HNW investors. Overlaps with Heirloom's asset-backed lending and alternatives platform for the HNW / family office channel.

Broad incumbents

• K2 Advisors (Franklin Templeton): Multi-strategy hedge fund manager within Franklin Templeton offering alternatives to institutional and HNW investors. Broad incumbent comparable to Heirloom's alts strategy across uncorrelated, asset-backed investments, but at materially larger scale.

Others

• CAASA: Canadian Association of Alternative Strategies and Assets — industry body where Heirloom's CEO is an active participant. Indirect peer as the ecosystem Heirloom operates in for distribution, conferences, and credibility in the Canadian alts market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/heirloom-investment-management

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Heirloom