Jefferies Plans Third Private Credit Fund Following $2.1B Fund II

Jefferies filed with the SEC to register Jefferies Direct Lending Fund III, signaling the upcoming sale of the third investment vehicle under its private credit strategy.

Fund III will follow Jefferies Direct Lending Fund II, which closed with more than $2.1B of capital commitments in 2023. According to various January 30, 2025, filings for Fund III and related vehicles, Jefferies expects fundraising to last more than a year and is tapping Jefferies LLC to oversee its marketing across the US.

Under its private credit strategy, the full-service investment banking and capital markets firm provides secured loans to middle- and upper middle-market companies. It will target opportunities identified through the firm's investment bank. The second vehicle under the strategy invested between $200M and $400M per transaction, according to a Bloomberg report on its closing.

Source:

https://www.sec.gov/Archives/edgar/data/2049100/000204910025000001/xslFormDX01/primary_doc.xml

https://www.sec.gov/Archives/edgar/data/2048899/000204889925000001/xslFormDX01/primary_doc.xml

https://www.sec.gov/Archives/edgar/data/2049091/000204889925000002/xslFormDX01/primary_doc.xml

https://www.bloomberg.com/news/articles/2023-11-08/jefferies-raises-2-billion-for-second-direct-lending-fund