Law360, New York ( June 20, 2016, 5:02 PM EDT) -- Although the primary focus of concern in recent weeks surrounding the disclosure that billionaire Silicon Valley entrepreneur Peter Thiel had financed Hulk Hogan's successful lawsuit against Gawker Media, resulting in a $140 million Florida jury award, was the impact of third-party funding in U.S. litigation, comparable concerns are inherent in the rise in third-party funding of high stakes international arbitration claims. The revelation that Thiel has been covertly funding claims against Gawker Media by third parties, to the tune of over $10 million, in retribution for Gawker's outing of him as a gay man, has raised questions about the role of outside money in high profile disputes, whether adjudicated in U.S. courts or through arbitration, and has highlighted the emerging field of litigation financing. Third-party funding has become much more prevalent in high cost arbitrations with significant upsides for a funded claimant, especially in investor-state claims. A small number of investment companies have dominated the market based upon sophisticated and well-developed business models that evaluate other people's claims and fund where appropriate to capitalize on significant awards not otherwise obtainable without their backing.[1]...