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Jefferies Finance Launches Direct Lending BDC with Anchor Commitment from ADIA

Jefferies Credit Partners, a leading private credit manager and the asset management arm of Jefferies Finance LLC, today announced the intention to launch a private placement of a business development company (“BDC”) to further enhance its lending capacity in the private credit space. Jefferies Finance is a joint venture of Jefferies Financial Group Inc. (NYSE: JEF) and Massachusetts Mutual Life Insurance Company (“MassMutual”).

The newly formed BDC will focus on first lien senior secured loans to private equity sponsored U.S. companies. Investments will target upper middle market borrowers that have greater than $75 million of EBITDA and often benefit from established track records, seasoned management and operational scale.

A wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) has committed to invest $625 million of equity in the BDC in order to anchor the BDC launch. The BDC expects to launch with approximately $1.7 billion of investable capital and aims to take advantage of strong private credit market conditions while leveraging Jefferies’ unique position serving sponsors.

Thomas Brady, President of Jefferies Finance, said, "This agreement with ADIA to seed our first BDC comes as the tailwinds in the private credit market have never been stronger. We value the trust ADIA has shown in us and look forward to a long and successful relationship."

Hamad Shahwan AlDhaheri, Executive Director of the Private Equities Department at ADIA, commented, "This independently run platform will benefit from a unique origination engine due to its partnership with Jefferies’ leading investment banking franchise, driving exclusive access to differentiated investment opportunities.”

This press release is not intended to, and does not, constitute an offer to purchase or sell shares of the BDC. The solicitation of the purchase or sales of securities of the BDC will only be made through the definitive Private Placement Memorandum and related offering documents, including the private offering eligibility requirements and the definitive registration statement filed on Form 10 (the “Registration Statement”). The Registration Statement will be filed with the U.S. Securities and Exchange Commission (the “SEC”) and may be amended or withdrawn. Prior to the initial close of the private offering, we intend to file an election to be regulated as a BDC under the Investment Company Act of 1940, as amended (the “1940 Act”), and be subject to the 1940 Act requirements applicable to BDCs.

POTENTIAL INVESTORS IN THE OFFERING OF THE BDC ARE URGED TO READ THE PRIVATE PLACEMENT MEMORANDUM AND REGISTRATION STATEMENT CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BDC. INVESTORS SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS AND CHARGES AND EXPENSES OF THE BDC CAREFULLY.

This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will," and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual future results to differ significantly from the BDC’s present expectations or projections indicated in any forward-looking statements. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; leverage risk; valuation risk; interest rate risk; tax risk; the volume of sales and purchase of shares; the continuation of investment advisory, administration and other service arrangements; and other risks discussed in the BDC’s filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The BDC undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the BDC’s investment objective will be attained.

Contacts

Jefferies Credit Partners

Attn: Madison Byrd, Investor Relations

520 Madison Avenue, 12th Floor

New York, New York

mbyrd@jefferies.com

(212) 778-8689

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