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« Social Networks Just Got Much Less Cool | Main | Isaac Newton: Master of the Mint » April 21, 2008 Leucadia Buys 14% of JefferiesI noticed that Leucadia (LUK) just bought a 14% stake in Jefferies (JEF). I think we're going to see more of this in the near future. Jefferies is not in good shape and they need the cash. For our purposes, I think we can consider Leucadia to be private equity firm. Of course, there's the question of why so many banks and brokerages are turning to private equity and SWFs instead of the public market. The easy answer is that they've been completely shut out of the public markets. The other sources are, to borrow from Willie Sutton, where the money is. Felix Salmon has more. Posted by edelfenbein at April 21, 2008 10:33 AM |
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