Jefferies Expands Private Credit Lending With Launch of New Vehicle
- Vehicle will focus on loans to mid-sized PE-backed companies
- Private credit lenders have rushed to start non-traded BDCs
The Jefferies Financial Group offices in New York.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Jefferies Financial Group Inc. is expanding deeper into private credit by raising its first private business development company focused on providing first-lien senior secured loans to private equity-backed US companies.
Jefferies Credit Partners, the asset management arm of Jefferies Finance LLC, is launching the BDC, according to a statement Wednesday. A unit of the Abu Dhabi Investment Authority will anchor the vehicle with a $625 million of equity investment. The BDC will start with $1.7 billion of investable capital.