Jefferies Fund Near Final Payout Faces Fresh Trouble Over First Brands Exposure

2 articles · Updated · Bloomberg · Aug 2

Point Bonita Capital was down to one remaining payment to investors when it was thrust back into the spotlight, complicating Jefferies' wind-down of the fund.
Last year, investors asked for all their money back after the fund's biggest exposure was revealed to be collapsing auto supplier First Brands Group.
That redemption wave had already pushed Jefferies to shutter the fund, making the latest setback notable because it hit just before the final payout.
The episode extends Jefferies' problems tied to concentrated exposure in First Brands and underscores the risks investors still face even late in a fund liquidation.