- Wafra, a firm that invests on behalf of Kuwait, has agreed to acquire a minority stake in Oak Hill Capital Partners, a private equity firm, from Jefferies Financial Group ( NYSE: JEF ), Bloomberg reported Tuesday, citing people with knowledge of the matter.
- A deal could be announced in coming weeks, one of the people told Bloomberg.
- Jefferies had acquired a 15% stake in Oak Hill Capital, through Stonyrock Partners, an investment firm that was formed to make minority investments in middle-market alternative asset management firms. Jefferies has since wound down its efforts in that vein, Bloomberg reported.
- Last month, Jefferies ( JEF ) said it's planning to spin of its Vitesse Energy unit in its plan to reduce the size of its merchant banking portfolio to focus on its investment banking business.
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Jefferies poised to sell its stake in Oak Hill Capital to Kuwait's Wafra - report