Jefferies Financial Group (JEF) Company Report

Quinbrook sold its Flexitricity energy optimisation business to Drax Smart Generation HoldCo Limited for expected total sale proceeds of approximately £42 million.
Jefferies acted as the lead financial advisor to Quinbrook for this transaction.
The sale price includes an enterprise valuation of £36 million plus an estimated net working capital and cash adjustment of approximately £6 million.

Jan 21, 2026, 7:12 AM

Press Release

Jefferies Strategist Reallocates Bitcoin Holdings Due to Quantum Computing Concerns

JEF

New Projects/Investments

Jefferies strategist Christopher Wood removed the 10% Bitcoin allocation from his Greed & Fear model portfolio.
This reallocation was driven by concerns that advances in quantum computing could undermine Bitcoin's public-key security, affecting its store-of-value case for institutional investors.
The removed Bitcoin allocation was reallocated to 5% physical gold and 5% gold-mining equities.
Wood's decision reflects a portfolio-construction choice based on evolving technology risk, highlighting that quantum risk is now entering mainstream institutional asset-allocation discussions.
Some analyses suggest 20–50% of circulating BTC could be exposed to quantum threats, with Coinbase identifying about 6.5 million BTC in older, potentially at-risk formats.

Jan 16, 2026, 7:53 AM

Bloomberg

Jefferies Financial Group Inc. announces pricing of $1.5 billion senior notes offering

JEF

Debt Issuance

Jefferies Financial Group Inc. (JEF) announced the pricing of its public offering of $1.5 billion aggregate principal amount of 5.500% Senior Notes due 2036 on January 13, 2026.
The notes have an effective yield of 5.605% and are scheduled to mature on February 15, 2036.
The offering is expected to settle on January 16, 2026, with the net proceeds intended for general corporate purposes.

Jan 13, 2026, 10:49 PM

8-K

Jefferies Financial Group Reports Q4 and Full Year 2025 Results, Expands SMBC Alliance, and Announces New Investment

JEF

Earnings

M&A

New Projects/Investments

Jefferies Financial Group reported $7.3 billion in Net Revenues and $631 million in Net Earnings for the full year 2025. Investment Banking net revenues increased 10% to $3.8 billion in 2025, including a record $1.2 billion in the fourth quarter.
The company significantly expanded its Global Strategic Alliance with Sumitomo Mitsui Banking Corporation (SMBC), which plans to increase its equity ownership in Jefferies to up to 20% and provide $2.5 billion in new credit facilities. A joint venture in Japan for equities and ECM businesses is set to begin in January 2027.
Jefferies agreed to acquire a 50% interest in Hildene Holding Company, LLC, a credit-focused asset manager with over $18 billion of assets under management, which is also acquiring SILAC Inc..

Jan 7, 2026, 9:36 PM

8-K

Jefferies Financial Group Inc. Announces Fourth Quarter and Full Year 2025 Financial Results

JEF

Earnings

Dividends

Share Buyback

Jefferies Financial Group Inc. reported total net revenues of $2.07 billion for Q4 2025.
For Q4 2025, net earnings attributable to common shareholders were $191 million, resulting in diluted earnings per common share from continuing operations of $0.87.
Adjusted net earnings attributable to common shareholders for Q4 2025 were $213 million, or $0.96 per adjusted diluted share.
Investment Banking net revenues for Q4 2025 increased 20% to $1.19 billion, and Capital Markets net revenues increased 6% to $692 million compared to the prior year quarter.
The Board of Directors declared a quarterly cash dividend of $0.40 per common share, payable on February 27, 2026. The company also repurchased 0.7 million shares of common stock for $59 million in fiscal year 2025.

Jan 7, 2026, 9:17 PM

8-K

Jefferies Announces Fourth Quarter 2025 Financial Results

JEF

Earnings

Dividends

Revenue Acceleration/Inflection

Jefferies Financial Group reported net earnings attributable to common shareholders of $190.89 million and diluted earnings per common share from continuing operations of $0.87 for the fourth quarter of 2025.
Total net revenues for Q4 2025 were $2.07 billion, with Investment Banking net revenues increasing 20% to $1.19 billion and Capital Markets net revenues increasing 6% to $692 million compared to the prior year quarter.
The company's Board of Directors declared a quarterly cash dividend of $0.40 per common share, payable on February 27, 2026, to record holders on February 17, 2026.
Adjusted diluted earnings per common share from continuing operations for Q4 2025 were $0.96, with an adjusted return on adjusted tangible shareholders' equity of 12.9%.

Jan 7, 2026, 9:15 PM

Press Release

FactSet Reports First Quarter Fiscal 2026 Results

JEF

Earnings

Share Buyback

Guidance Update

FactSet reported Q1 fiscal 2026 GAAP revenues of $607.6 million, an increase of 6.9% from the prior year, with organic revenues growing 6.0% to $600.0 million.
GAAP diluted EPS for Q1 fiscal 2026 was $4.06, up 4.4%, and adjusted diluted EPS was $4.51, up 3.2% year over year.
Organic Annual Subscription Value (ASV) reached $2,389.6 million as of November 30, 2025, marking a 5.9% year-over-year increase.
FactSet's Board of Directors approved an increase to the existing share repurchase authorization from $400 million to $1 billion, with an additional $600 million in authority approved on December 16, 2025.
The company reaffirmed its fiscal 2026 outlook, projecting GAAP revenues between $2,423 million and $2,448 million and adjusted diluted EPS in the range of $16.90 to $17.60.

Dec 18, 2025, 12:00 PM

Press Release

Howard Hughes Holdings to Acquire Vantage Group Holdings for $2.1 Billion

JEF

M&A

New Projects/Investments

Convertible Preferred Issuance

Howard Hughes Holdings Inc. (HHH) has entered into a definitive agreement to acquire Vantage Group Holdings Ltd., a privately held specialty insurance and reinsurance company, for approximately $2.1 billion.
The transaction is expected to close in the second quarter of 2026, subject to customary regulatory approvals, and will anchor HHH's transformation into a diversified holding company.
The acquisition will be financed through HHH’s cash on hand and up to $1 billion of non-interest-bearing, non-voting preferred stock issued by HHH to Pershing Square Holdings, Ltd..
Pershing Square will manage Vantage’s investment portfolio on a fee-free basis, aiming to enhance investment returns and align with policyholders and shareholders.

Dec 18, 2025, 11:00 AM

Press Release

Jefferies to Acquire 50% Stake in Hildene Holding

JEF

M&A

New Projects/Investments

Guidance Update

Jefferies Financial Group is acquiring a 50% interest in Hildene Holding Company, the parent of credit-focused asset manager Hildene Capital Management, for $340 million in cash.
The acquisition, expected to close in Q3 2026, is anticipated to be immediately accretive and a consistent contributor to Jefferies' net earnings, with a projected $75 million pretax gain after closing.
The $340 million cash investment will be offset by an anticipated over $500 million reduction in Jefferies’ investments in its Leucadia Asset Management division during 2026.
This strategic move aligns with Jefferies' goal to expand credit origination and asset management, and coincides with Hildene's agreement to acquire SILAC, a fixed-indexed annuity provider.

Dec 8, 2025, 11:53 AM

Morningstar

Jefferies to Acquire 50% Interest in Hildene Holding Company

JEF

M&A

New Projects/Investments

Jefferies Financial Group Inc. is acquiring a 50% interest in Hildene Holding Company, a credit-focused asset manager with over $18 billion of assets under management.
The acquisition involves $340 million in cash from Jefferies, an exchange of its existing revenue share in Hildene, and a portion of its interest in a Hildene-managed private fund.
This $340 million cash investment will be effectively funded by an anticipated over $500 million reduction in Jefferies' Leucadia Asset Management division's investments during 2026.
The transaction is expected to close in the third quarter of 2026 and is anticipated to be immediately accretive to Jefferies' net earnings, with an expected $75 million pretax gain from the fair market value markup of its pre-transaction interest.
Concurrently, Hildene will acquire SILAC, Inc., an annuity provider with approximately $10 billion of total admitted assets as of September 30, 2025, for $550 million in cash upon regulatory approval.