WSJ Article—How can Jefferies be a PE firm?
Can y'all please help me understand Jefferies' role in this article: https://www.wsj.com/articles/neiman-marcus-sues-marble-ridge-over-alleged-bid-rigging-11598566934
So this article says that Neiman Marcus is suing Marble Ridge Capital. NM is alleging that MRC's founder, a major client of Jefferies, used his clout as a client to prevent the bank for bidding for NM's e-commerce unit, MyTheresa. How is Jefferies, an investment bank which of course works as an intermediary in M&A deals, acting as the buyer in this deal? Or are they simply acting on behalf of a client, or do they have a Merchant Banking Division like GS or something along those lines?
Believe they have a merchant banking division
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