Jefferies Finance Launches Direct Lending BDC with Anchor Commitment from ADIA
19 Julho 2023 - 1:09PM
Business Wire
Jefferies Credit Partners, a leading private credit manager and
the asset management arm of Jefferies Finance LLC, today announced
the intention to launch a private placement of a business
development company (“BDC”) to further enhance its lending capacity
in the private credit space. Jefferies Finance is a joint venture
of Jefferies Financial Group Inc. (NYSE: JEF) and Massachusetts
Mutual Life Insurance Company (“MassMutual”).
The newly formed BDC will focus on first lien senior secured
loans to private equity sponsored U.S. companies. Investments will
target upper middle market borrowers that have greater than $75
million of EBITDA and often benefit from established track records,
seasoned management and operational scale.
A wholly owned subsidiary of the Abu Dhabi Investment Authority
(“ADIA”) has committed to invest $625 million of equity in the BDC
in order to anchor the BDC launch. The BDC expects to launch with
approximately $1.7 billion of investable capital and aims to take
advantage of strong private credit market conditions while
leveraging Jefferies’ unique position serving sponsors.
Thomas Brady, President of Jefferies Finance, said, "This
agreement with ADIA to seed our first BDC comes as the tailwinds in
the private credit market have never been stronger. We value the
trust ADIA has shown in us and look forward to a long and
successful relationship."
Hamad Shahwan AlDhaheri, Executive Director of the Private
Equities Department at ADIA, commented, "This independently run
platform will benefit from a unique origination engine due to its
partnership with Jefferies’ leading investment banking franchise,
driving exclusive access to differentiated investment
opportunities.”
This press release is not intended to, and does not, constitute
an offer to purchase or sell shares of the BDC. The solicitation of
the purchase or sales of securities of the BDC will only be made
through the definitive Private Placement Memorandum and related
offering documents, including the private offering eligibility
requirements and the definitive registration statement filed on
Form 10 (the “Registration Statement”). The Registration Statement
will be filed with the U.S. Securities and Exchange Commission (the
“SEC”) and may be amended or withdrawn. Prior to the initial close
of the private offering, we intend to file an election to be
regulated as a BDC under the Investment Company Act of 1940, as
amended (the “1940 Act”), and be subject to the 1940 Act
requirements applicable to BDCs.
POTENTIAL INVESTORS IN THE OFFERING OF THE BDC ARE URGED TO READ
THE PRIVATE PLACEMENT MEMORANDUM AND REGISTRATION STATEMENT
CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE
THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BDC.
INVESTORS SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS AND
CHARGES AND EXPENSES OF THE BDC CAREFULLY.
This press release contains "forward-looking statements" as
defined under the U.S. federal securities laws. Generally, the
words "believe," "expect," "intend," "estimate," "anticipate,"
"project," "will," and similar expressions identify forward-looking
statements, which generally are not historical in nature.
Forward-looking statements are subject to certain risks and
uncertainties that could cause actual future results to differ
significantly from the BDC’s present expectations or projections
indicated in any forward-looking statements. These risks include,
but are not limited to, changes in economic and political
conditions; regulatory and legal changes; leverage risk; valuation
risk; interest rate risk; tax risk; the volume of sales and
purchase of shares; the continuation of investment advisory,
administration and other service arrangements; and other risks
discussed in the BDC’s filings with the SEC. You should not place
undue reliance on forward-looking statements, which speak only as
of the date they are made. The BDC undertakes no obligation to
publicly update or revise any forward-looking statements made
herein. There is no assurance that the BDC’s investment objective
will be attained.
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version on businesswire.com: https://www.businesswire.com/news/home/20230719081565/en/
Jefferies Credit Partners Attn: Madison Byrd, Investor Relations
520 Madison Avenue, 12th Floor New York, New York
mbyrd@jefferies.com (212) 778-8689
Jefferies Financial (NYSE:JEF)
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