Slater and Gordon will try to raise $890 million in new equity to fund a STG700 million ($A1.34 billion) UK acquisition.

The law firm has announced a deal to buy British insurance claims processor Quindell’s professional services arm, which makes most of its money from car insurance claims.

Slater and Gordon, Australia’s largest listed law firm and known for launching class actions, and has been aggressively expanding in the UK handling “no win, no fee” personal injury claims.