Omni Bridgeway Limited (ASX: OBL), a global leader in legal asset management, reported strong results for the first quarter of FY26. The company delivered A$136 million in cash investment proceeds, achieving a 2.8x multiple on invested capital (MOIC) and 102% fair value conversion from 8 full completions and 10 partial completions. There are 26 active investments with agreed settlements pending finalisation, court approval, or payment, with a combined portfolio fair value of approximately A$162 million and an estimated A$55 million in OBL-only proceeds. Following the quarter-end, one settlement completed, generating about A$20 million in OBL-only cash proceeds. Operational efficiency improvements continue, with reduced cash operating expenses and increased fee income. Fund capital raising is progressing well, with several new investor commitments and the current raise expected to complete by the end of CY25. The pipeline remains robust, with 30 additional agreed term sheets outstanding for an estimated A$317.8 million in new commitments if converted.