Related Party Transactions

9 Months Ended

Aug. 31, 2011

Related Party Transactions [Abstract]

Related Party Transactions

Note 22. Related Party Transactions

We have committed to invest an aggregate of up to $85.0 million in Jefferies Capital Partners V L.P. and its related parallel funds (collectively, “Fund V”). Fund V is a private equity fund managed by a team led by Brian P. Friedman, one of our directors and Chairman of the Executive Committee. On July 26, 2010, we entered into a Subscription Agreement and agreed to commit up to $75.0 million in the USA Fund, a parallel fund within Fund V. As of August 31, 2011 and November 30, 2010, we have funded approximately $17.9 million and $9.3 million, respectively, of our commitment to the USA Fund. On August 12, 2010, we entered into a Subscription Agreement and agreed to commit up to $10.0 million in Fund V. As of August 31, 2011 and November 30, 2010, we have funded approximately $2.4 million and $1.2 million, respectively, of this commitment.

At August 31, 2011, we have commitments to purchase $166.1 million in agency commercial mortgage-backed securities from Berkadia Commercial Mortgage, LLC, which is partially owned by Leucadia.

At August 31, 2011 and November 30, 2010, we had $64.6 million and $76.5 million, respectively, of loans outstanding to certain of our employees that are included in Other assets on the Consolidated Statements of Financial Condition.

In February 2011, we entered into a joint venture with the Government of Singapore Investment Corporation and formed Jefferies LoanCore LLC, a commercial real estate finance company. Total initial equity commitments to Jefferies LoanCore LLC approximate $600 million, with our commitment comprising $291 million of the total commitment. As of August 31, 2011, we have funded approximately $117.5 million of our equity commitment.