Jefferies Finds Equity in New York

We hear the irritation all the time: “Investment banks aren’t interested in the middle market – and they won’t even look at deals less than $100 million.” So, where does that leave an industry like shipping, which needs to have access to the capital markets especially when commercial bank capacity shrinks? We imagine the question would warm the cockles of the people at Jefferies in New York.

In an era when many investment banks would fire their employees before helping smaller companies in mature industries raise money, maritime business is so important to Jefferies that shipping deals appear by name in the firm’s corporate annual report. In a time when “shipping equity” is considered an oxymoron, Jefferies has been on the cover of every public equity deal in recent memory and is now offering shipowners private equity through the $600 million Jefferies Capital Partners, formerly called FS Private Equity. And in a moment when firms are letting people go, Jefferies have added such maritime names as Roy Furman, as Vice Chairman, Jim Dowling, in private equity and Stephen Gengaro, in equity research.

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