<SEC-DOCUMENT>0001714174-25-000018.txt : 20250102
<SEC-HEADER>0001714174-25-000018.hdr.sgml : 20250102
<ACCEPTANCE-DATETIME>20250102111724
ACCESSION NUMBER:		0001714174-25-000018
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250101
FILED AS OF DATE:		20250102
DATE AS OF CHANGE:		20250102

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Klein Mark N.
		CENTRAL INDEX KEY:			0001982909
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39511
		FILM NUMBER:		25500870

	MAIL ADDRESS:	
		STREET 1:		350 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Burford Capital Ltd
		CENTRAL INDEX KEY:			0001714174
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			Y7
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		OAK HOUSE
		STREET 2:		HIRZEL STREET
		CITY:			ST PETER PORT
		STATE:			Y7
		ZIP:			GY1 2NP
		BUSINESS PHONE:		44 (0)1481 723450

	MAIL ADDRESS:	
		STREET 1:		OAK HOUSE
		STREET 2:		HIRZEL STREET
		CITY:			ST PETER PORT
		STATE:			Y7
		ZIP:			GY1 2NP
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>wk-form3_1735834637.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-01-01</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001714174</issuerCik>
        <issuerName>Burford Capital Ltd</issuerName>
        <issuerTradingSymbol>BUR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001982909</rptOwnerCik>
            <rptOwnerName>Klein Mark N.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O BURFORD CAPITAL LIMITED</rptOwnerStreet1>
            <rptOwnerStreet2>OAK HOUSE, HIRZEL STREET</rptOwnerStreet2>
            <rptOwnerCity>ST. PETER PORT</rptOwnerCity>
            <rptOwnerState>Y7</rptOwnerState>
            <rptOwnerZipCode>GY1 2NP</rptOwnerZipCode>
            <rptOwnerStateDescription>GUERNSEY</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>GC&amp;ChiefAdministrative Officer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Ordinary shares, no par value (&quot;Ordinary Shares&quot;)</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>64041</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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    <derivativeTable>
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            <securityTitle>
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            <exerciseDate>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>13441</value>
                </underlyingSecurityShares>
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                <directOrIndirectOwnership>
                    <value>D</value>
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                <value>PSUs</value>
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                <underlyingSecurityShares>
                    <value>13441</value>
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                <directOrIndirectOwnership>
                    <value>D</value>
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                <value>RSUs</value>
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            <underlyingSecurity>
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                    <value>Ordinary Shares</value>
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                    <value>18437</value>
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                <value>PSUs</value>
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                    <value>Ordinary Shares</value>
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                    <value>18437</value>
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                    <value>D</value>
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                    <value>10274</value>
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            <ownershipNature>
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                    <value>D</value>
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            <underlyingSecurity>
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                    <value>10274</value>
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                <value>Phantom RSUs</value>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
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                <underlyingSecurityShares>
                    <value>687.7</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        <derivativeHolding>
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                <value>Phantom RSUs</value>
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                    <value>668.3</value>
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            <ownershipNature>
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                    <value>D</value>
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                    <value>D</value>
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    <footnotes>
        <footnote id="F1">Represents restricted share units (&quot;RSUs&quot;) granted on April 5, 2022, which vest on the third anniversary of the grant date, subject to Mr. Klein's continued employment through such date. Each RSU represents a contingent right to receive one Ordinary Share.</footnote>
        <footnote id="F2">Represents performance-based RSUs (&quot;PSUs&quot;) granted on April 5, 2022, which vest on the third anniversary of the grant date, subject to the achievement of certain performance conditions and Mr. Klein's continued employment through such date. Each PSU represents a contingent right to receive one Ordinary Share.</footnote>
        <footnote id="F3">Represents RSUs granted on March 22, 2023, which vest on the third anniversary of the grant date, subject to Mr. Klein's continued employment through such date. Each RSU represents a contingent right to receive one Ordinary Share.</footnote>
        <footnote id="F4">Represents PSUs granted on March 22, 2023, which vest on the third anniversary of the grant date, subject to the achievement of certain performance conditions and Mr. Klein's continued employment through such date. Each PSU represents a contingent right to receive one Ordinary Share.</footnote>
        <footnote id="F5">Represents RSUs granted on March 22, 2024, which vest on the third anniversary of the grant date, subject to Mr. Klein's continued employment through such date. Each RSU represents a contingent right to receive one Ordinary Share.</footnote>
        <footnote id="F6">Represents PSUs granted on March 22, 2024, which vest on the third anniversary of the grant date, subject to the achievement of certain performance conditions and Mr. Klein's continued employment through such date. Each PSU represents a contingent right to receive one Ordinary Share.</footnote>
        <footnote id="F7">Represents phantom RSUs (&quot;Phantom RSUs&quot;) granted to Mr. Klein on June 22, 2023, which vest on June 15, 2025, in accordance with the Burford Capital Deferred Compensation Plan (the &quot;NQDC Plan&quot;), subject to Mr. Klein's continued employment through such date. Each Phantom RSU represents a contingent right to receive the economic equivalent of one Ordinary Share, which may be paid in cash or Ordinary Shares in accordance with the terms of the NQDC Plan.</footnote>
        <footnote id="F8">Represents Phantom RSUs granted to Mr. Klein on August 15, 2024, which vest on August 12, 2026, in accordance with the NQDC Plan, subject to Mr. Klein's continued employment through such date. Each Phantom RSU represents a contingent right to receive the economic equivalent of one Ordinary Share, which may be paid in cash or Ordinary Shares in accordance with the terms of the NQDC Plan.</footnote>
        <footnote id="F9">Represents Phantom RSUs held under the NQDC Plan and not subject to vesting conditions. Each Phantom RSU represents a contingent right to receive the economic equivalent of one Ordinary Share, which may be paid in cash or Ordinary Shares in accordance with the terms of the NQDC Plan.</footnote>
    </footnotes>

    <remarks>Exhibit List: Exhibit 24 - Power of Attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ Mark N. Klein</signatureName>
        <signatureDate>2025-01-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>burford-ex24xpowerofattorn.htm
<DESCRIPTION>EX-24
<TEXT>
<html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2024 Workiva -->
<title>Document</title></head><body><div id="i632926468dc9478b88d87e082f4daf73_1"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:8pt;text-align:right"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">Exhibit 24</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Power of Attorney</font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">KNOW ALL BY THESE PRESENTS, that the undersigned hereby constitutes and appoints each of (i) Christopher P. Bogart, (ii) Jordan D. Licht and (iii) Paul Mysliwiec, signing&#160;SINGLY, as the undersigned&#8217;s true and lawful attorney-in-fact to&#58;</font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(1) &#160;&#160;&#160;&#160;&#160;&#160;&#160;execute for and on behalf of the undersigned, in the undersigned&#8217;s capacity as an officer, director or holder of ten percent (10%) or more of the registered class of securities of Burford Capital Limited (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">Company</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8221;), Forms 3, 4 and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934, as amended (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">Exchange Act</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8221;), and the rules thereunder&#59;</font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(2) &#160;&#160;&#160;&#160;&#160;&#160;&#160;do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Form 3, 4 or 5, complete and execute any amendment or amendments thereto and timely file such forms or amendments with the US Securities and Exchange Commission and any stock exchange or similar authority&#59; and</font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">(3) &#160;&#160;&#160;&#160;&#160;&#160;&#160;take any other action of any type whatsoever in connection with the foregoing which, in the opinion of any of such attorneys-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by any of such attorneys-in-fact on behalf of the undersigned pursuant to this power of attorney (this &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">Power of Attorney</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#8221;) shall be in such form and shall contain such terms and conditions as any of such attorneys-in-fact may approve in the discretion of any of such attorneys-in-fact.</font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">The undersigned hereby grants to each such attorney-in-fact full power and authority to act separately and to do and perform any and every act and thing whatsoever requisite, necessary or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that any of such attorneys-in-fact, or the substitute or substitutes of any of such attorneys-in-fact, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorneys-in-fact, in serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned&#8217;s responsibilities to comply with Section 16 of the Exchange Act.</font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4 and 5 with respect to the undersigned&#8217;s holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.</font></div><div style="text-align:justify;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">*   *   *   *   *</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font><br></font></div><div><font><br></font></div></div></div><div id="i632926468dc9478b88d87e082f4daf73_4"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 2nd&#160;day of January 2025.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="margin-bottom:8pt;padding-left:207pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:52.403%"><tr><td style="width:1.0%"></td><td style="width:21.224%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.578%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:60.673%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.025%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">By&#58;</font></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#47;s&#47; Mark N. Klein</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">Name&#58;</font></td><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">Mark N. Klein</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:125%">&#160;</font></td></tr></table></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:120%">&#160;</font></div><div style="margin-bottom:8pt;text-align:right"><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#91;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Signature Page to Power of Attorney (Forms 3, 4 &#38; 5)&#8212;Burford Capital Limited</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#93;</font></div><div><font><br></font></div></div></div></body></html>
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