ADIA raises ownership in Jefferies debt unit — again: Platinum Falcon — a unit of Abu Dhabi Investment Authority (ADIA) — nabbed an additional USD 5 mn stake in Jefferies Credit Partners (JCP) — the private credit arm of New York-listed investment bank Jefferies Financial Group, according to a filing to the SEC. The ADIA-backed firm purchased some 344k common shares in the debt fund at USD 14.5 apiece after Jefferies delivered a drawdown notice to Platinum Falcon.

This is only a top-up: ADIA’s latest capital injection brings its total holding in JCP to 61.9%, good for c.17.8 mn shares. The Abu Dhabi sovereign wealth fund had already bought some 10.2 mn shares (which represented an 87% stake) in the debt fund last year followed by a series of incremental purchases — all of which were made through Platinum Falcon.

Uh, Enterprise, how did ADIA’s stake shrink if it upped its holding? While ADIA now owns more shares in JCP than it did last year, the debt unit’s total share count grew 2.5x since the fund’s first purchase, diluting its total ownership.

OTHER ADIA NEWS-

Ather Energy secures funds from Adia ahead of a planned IPO: The Abu Dhabi Investment Authority (ADIA) was among a group of anchor investors who participated in the USD 156.9 mn funding raised by India-based two-wheeler EV manufacturer Ather Energy in a pre-IPO funding round, Tech in Asia reports. Shares were allocated to 36 investors at USD 3.76 apiece. Ather’s IPO is set to wrap up before the end of the week.

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