Jefferies Financial Group Inc. raised more than $2.1 billion from investors in its second private credit fund, according to an email seen by Bloomberg.
The fund, named Jefferies Direct Lending Fund II, will focus on making senior secured loans to middle- and upper middle-market companies. It’s already deployed more than half of its investor commitments, with investments ranging in size from $200 million to $400 million.
The new fund will seek lending opportunities exclusively sourced within Jefferies’ investment bank, said John Liguori, chief investment officer of Jefferies Credit Partners, in an interview. Jefferies Credit Partners has right of first refusal for all opportunities originated from the investment bank.
“We are strictly focused on the sponsor market,” said Ligouri. “There’s no reason why we shouldn’t grow market share as we take in more capital.”
This is Jefferies second direct lending fund raised with third-party capital. The company historically has invested in private credit through Jefferies Finance, a $20 billion joint venture with Massachusetts Mutual Life Insurance Co. The firm also has launched its first business development company, which started with $1.7 billion in investable capital for a similar investment strategy.
(Corrects spelling in third paragraph.)
