Jefferies Faces $161 Million Exposure as First Brands Group Collapses
Jefferies Faces $161 Million Exposure as First Brands Group Collapses A unit of Jefferies Financial Group Inc. is grappling with significant financial exposure following the collapse of auto parts supplier First Brands Group Inc. An asset manager under Jefferies’ control, Point Bonita Capital, had nearly a quarter of its $3 billion trade finance portfolio invested in receivables tied to First Brands. Jefferies disclosed that Point Bonita Capital’s portfolio includes approximately $715 million in receivables owed by First Brands’ customers, such…