Jefferies Finance LLC - Is this part of IB ?
Analyst Position – Jefferies Finance LLC Jefferies Finance LLC In 2004, Jefferies & Company, Inc. and Babson Capital Management (a subsidiary of MassMutual Financial Group) formed a 50/50 Joint Venture named Jefferies Finance LLC ("JFIN"), a middle-market finance company • Structures, commits, syndicates and holds debt securities for middle-market borrowers primarily in connection with leveraged buyouts and recapitalizations • Over $5.5 billion of commitments issued since inception • Both MassMutual and Jefferies & Company, Inc. contribute capital and personnel to JFIN
Responsibilities will include: Underwriting • Assist in underwriting, structuring and syndicating bank / subordinated debt facilities in support of sponsor-led leveraged buyouts and recapitalizations of middle market companies with $10-100+ million of annual EBITDA • Screen new opportunities by conducting industry and company due diligence and analysis, evaluating and sensitizing projections, and preparing internal memoranda • Analyze, sensitize and adapt both internal and client-prepared financial models • Assist in setting covenants, negotiating business and legal issues, and structuring legal documentation including term sheets, commitment letters and credit agreements / note purchase agreements portfolio management & Administrative Agent Duties • For the debt facilities it arranges, JFIN seeks to (i) act as Administrative Agent post-close and (ii) hold a portion of the debt on its balance sheet, typically $5-15 million per borrower • Maintain portfolio model and compile detailed account reviews on a monthly or quarterly basis for borrowers under coverage • Keep Managing Directors apprised of portfolio developments by maintaining various portfolio reports • Assist in negotiating and structuring waivers and amendments • As needed, facilitate capital structure restructurings for borrowers under coverage • Manage the relationships and flow of information between various constituencies (borrowers, sponsors, senior investors, second lien / subordinated investors) Miscellaneous • Assist Managing Directors and senior staff on ad hoc basis as needed with various reports and analyses, such as Mark to Market accounting, Loan Loss Reserve calculation, Problem Loan reports, internal marketing materials, loan policy & procedures, etc.
I was wondering based on the above job description if this sounds like a front office opportunity. Also do you think it is possible to have good exit opportunities with this career path ?
Thanks
yes, definitely sounds front office. it is probably a small deal team so you will be given some administrative (i.e. back-office/mid-office jobs) but that is the case with a lot of lean teams.
jeffries really seems to be developing into a solid player. they started an asset managment business in stamford CT and recently got into the CDO/MBS business earlier this year. didn't know they did mezz fund/merchant banking but this seems to be another area they are expanding into
a lot of the experience will depend on the types of deal and structure. typical exit ops would seem like MM PE and credit funds. however the only cautious thing is that the deal sizes seem to be very small if it is only a $5mm -$15mm credit lending per transaction...
Without going into great details as to the finer points, no. not in the least bit.... Jeffco and JFIN are two separate entities in their own right.
Jeffco is the bank, while JFIN is the funding arm. JFIN handles the funding for credit commitments that Jeffco gets involved in, ranging from Revolving Lines of Credit, Leveraged Loans, Lev Fin deals, funded and unfunded commitments and other deals that may nor may not be fully committed to.
That's the nutshell... I'd go for this gig, as you're dealing with funding on transactions and that's a huge upside compared to most job opportunities.
BACK OFFICE, plus its jefferies so that makes it not worth it
for the sake of the integrity of this message board, please don't offer any more advice to anyone.
Seems like a hybrid of commercial banking and loan syndications probably with a greater emphasis on the commercial banking side of things
new_era please do not provide misleading comments. If you are clueless just don't comment. Ignorance is better than stupidity
Basically levfin but for the lower middle market. They may hold $15mm on the BS but they probably underwrite larger deals and syndicate a large slug of debt.
Jefferies Finance LLC? (Originally Posted: 11/30/2015)
Hi,
Does anyone know anything about Jefferies Finance LLC? It seems to be a subsidiary of Jefferies Investment Bank that deals with financing the deals the traditional investment bank advises. What kind of work do they do? Is it more similar to LevFin Ibanking or commercial banking? Pay? Culture? Prestige? Exit Ops? I know there is an old post about this but its pretty outdated and not all that helpful.
Thanks
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