Key Takeaways
- • Indiana Public Retirement System (INPRS), which manages roughly $55 billion for public employees, is accusing Jefferies Financial Group of betrayal over its investment in a Jefferies-linked Leucadia fund, according to a Bloomberg report dated November 10, 2026.
- • Jefferies' asset-management arm actively courted INPRS, hosting senior pension staff at the firm's Midtown Manhattan headquarters to encourage partners to "deploy capital alongside Jefferies."
- • The courting centered on launching a hedge fund called 352 Capital, into which INPRS committed $100 million by early 2021 for consumer asset-backed securities bets.
Summary
Bloomberg reports that Jefferies Financial Group Inc.'s asset-management arm mounted an intensive effort to win over the Indiana Public Retirement System, a pension fund with about $55 billion in assets that backs retirement benefits for teachers, police officers and other public employees. According to the report, Jefferies made senior executives available and hosted INPRS's senior staff at the bank's Midtown Manhattan headquarters.
The outreach was part of a bid to recruit institutional partners who would "deploy capital alongside Jefferies" and help bring a hedge fund called 352 Capital to market. By early 2021, INPRS had committed $100 million to the fund's investments in consumer asset-backed securities, becoming one of 352 Capital's investors.
The headline indicates that the pension fund, now a client of Jefferies' Leucadia fund, has accused the firm of betrayal. The full text of the article was not available for retrieval, so the specific nature of the allegations, the Leucadia fund's performance, and any response from Jefferies could not be verified from the available material.
The outreach was part of a bid to recruit institutional partners who would "deploy capital alongside Jefferies" and help bring a hedge fund called 352 Capital to market. By early 2021, INPRS had committed $100 million to the fund's investments in consumer asset-backed securities, becoming one of 352 Capital's investors.
The headline indicates that the pension fund, now a client of Jefferies' Leucadia fund, has accused the firm of betrayal. The full text of the article was not available for retrieval, so the specific nature of the allegations, the Leucadia fund's performance, and any response from Jefferies could not be verified from the available material.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.