JEFFERIES GROUP LLC
Q3 2021 Form 13-F

Description and Activity

Jefferies Group LLC is a global investment banking and securities firm headquartered in New York City. The company operates primarily through two main segments: Investment Banking and Capital Markets, and Asset Management. The Investment Banking and Capital Markets segment offers underwriting and advisory services, including mergers and acquisitions, restructurings, equity and debt underwriting, and corporate lending. Jefferies generates revenue in this segment through transaction commissions and interest spreads from financing and securities lending activities.

In the Asset Management segment, Jefferies provides alternative investment management services and invests capital in strategies managed by affiliated managers. This segment primarily serves institutional clients such as pension funds and sovereign wealth funds. Jefferies also has a strategic alliance with SMBC Group to bolster its investment banking capabilities, especially in leveraged finance and cross-border M&A opportunities. Additionally, through Berkadia, a joint venture with Berkshire Hathaway, Jefferies offers capital solutions and mortgage servicing for commercial real estate, with a focus on multifamily housing loans. The firm's operations are structured around these segments and alliances, directly impacting its business performance through its ability to secure and manage transactions and investments.