Business & Finance
Business and Finance
Business and Finance
Mon, February 28, 2011Sun, February 27, 2011Sat, February 26, 2011Fri, February 25, 2011Thu, February 24, 2011Wed, February 23, 2011Tue, February 22, 2011Mon, February 21, 2011Sun, February 20, 2011Fri, February 18, 2011Thu, February 17, 2011Jefferies Group, Government of Singapore Investment Corporation and LoanCore Capital Form Joint Venture Real Estate Finance Com
Published in Business and Finance on Wednesday, February 23rd 2011 at 6:06 GMT by Market Wire
NEW YORK & SINGAPORE--([ BUSINESS WIRE ])--Jefferies Group, Inc. (NYSE: JEF) and the Government of Singapore Investment Corporation (GIC) announced today that, through affiliates, they and LoanCore LLC, led by Mark Finerman, have formed Jefferies LoanCore LLC, a new joint venture commercial real estate finance company with $600 million in initial equity commitments that will be leveraged appropriately. Jefferies LoanCore will originate commercial real estate debt through a team of professionals led by Mr. Finerman, with the support of the broad real estate, investment banking and securitization capabilities of Jefferies, and the deep real estate and mortgage investment expertise of GIC Real Estate, the real estate investment arm of GIC.
"We are very excited to partner with GIC Real Estate to launch Jefferies LoanCore LLC, which further expands Jefferiesa™ investment banking and trading franchise by offering commercial real estate investors further access to capital"
aWe are very excited to partner with GIC Real Estate to launch Jefferies LoanCore LLC, which further expands Jefferiesa™ investment banking and trading franchise by offering commercial real estate investors further access to capital,a said Richard B. Handler, Chairman and Chief Executive Officer of Jefferies Group. aMark Finerman has an outstanding track record as a leader in the commercial real estate finance sector, and we are pleased to be working with Mark and his talented team.a
aWe welcome the opportunity to establish a long-term partnership with Jefferies Group in commercial real estate finance,a said Dr. Seek Ngee Huat, President of GIC Real Estate. aWe have worked successfully with Mark Finerman for several years and look forward to expanding our relationship with this further commitment."
"Jefferies LoanCore expects to respond to the capital needs of commercial real estate owners and investors across the United States," said Mr. Finerman, CEO of Jefferies LoanCore. "As our industry recovers from the disruption of the recent financial crisis, we expect Jefferies LoanCore to be a leader in providing creative capital solutions."
