Jefferies BDC Nets $79M in Q1 as $105M Raise Outpaces Tender Redemptions
Jefferies Credit Partners BDC Inc. paid out approximately $26.1 million to shareholders on May 6, 2026, accepting all shares tendered in its first-quarter offer at net asset value as of March 31.
The nontraded business development company received tenders for 1,820,427 shares, representing about 3.87% of the company’s net asset value as of Dec. 31, 2025, below the 5% cap the company had set for the offer. Because participation did not exceed the limit, no proration was required and all tendering shareholders were accommodated in full.
The company paid each tendering shareholder the NAV per share as of the March 31 valuation date, less a 2% early repurchase deduction for shares held less than 12 months. The deduction does not apply to shares issued under the company’s distribution reinvestment plan, or DRIP.
The tender offer, which launched April 1 and expired April 29, is part of Jefferies Credit Partners BDC’s quarterly repurchase program — the standard liquidity mechanism for nontraded BDCs whose shares are not listed on a public exchange.
The Q1 2026 redemption activity came alongside a capital raise that more than offset the redemptions. The company sold 7.3 million Class I shares for approximately $105 million at a NAV of $14.36 per share as of March 27, 2026. Netted against the $26.1 million in redemptions, the figures imply roughly $79 million in positive capital flows for the quarter.
The BDC was previously cited in AltsWire’s coverage of analysis from Robert A. Stanger & Company, specifically in connection with the BDC’s multi-share-class reclassification following exemptive relief from the U.S. Securities and Exchange Commission.
Jefferies Credit Partners BDC invests primarily in senior secured loans to U.S. companies in the upper middle market. The fund is managed by Jefferies Credit Management LLC, an affiliate of Jefferies Finance LLC, itself a joint venture between Jefferies Financial Group and MassMutual.
Jefferies Credit Partners, the broader platform, said it manages capital across funds, collateralized loan obligations, and separately managed accounts, and has a right of first refusal on loans originated through Jefferies’ investment banking operation.
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