Overview

• SMBC will invest ¥135 billion (about $913 million) to raise its Jefferies holding to up to 20% from 14.5%.
• A Japan-focused joint venture will consolidate wholesale equities, equity capital markets, research, and sales and trading, with a target launch in January 2027.
• SMBC will extend $2.5 billion in new credit facilities to support leveraged lending in EMEA and pre‑IPO lending in the United States.
• The partners plan expanded joint coverage of large sponsor clients in EMEA, including shared origination and underwriting of leveraged loans.
• The equity increase and joint venture are contingent on approvals from Japanese and U.S. financial regulators.