** Shares of litigation funder Omni Bridgeway rise 48% to A$1.4300, their biggest one-day pct gain since Feb 2000 ** Firm signs an agreement with funds managed by New York-listed investment manager Ares Management to establish a continuation fund called Fund 9

** Says Fund 9 will acquire over 150 of the firm's previous investments and Ares Management will pay ~A$310 mln ($196.17 mln) for a 70% stake in the fund

** Stock hits its highest level since early April

** Over 1.3 mln shares traded, 5.6x the 30-day avg

** Shares of co up 5.5% YTD

($1 = 1.5803 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru) ((Tanishk.Kumar@thomsonreuters.com;))