Jefferies and SMBC Group Expand Global Strategic Alliance, Joint Venture in Japanese Equities and Equity Capital Markets

Jefferies Financial Group and Sumitomo Mitsui Financial Group are expanding their global strategic alliance, including a joint venture in Japan for wholesale Japanese equity research, sales, and trading, and equity capital markets. The alliance also includes expanded joint coverage of larger sponsors, increased SMBC equity ownership in Jefferies to up to 20%, and $2.5 billion in new credit facilities to support Jefferies and facilitate collaboration efforts. The alliance aims to enhance their abilities to meet the global needs of their clients.