Singapore’s GIC Seeks Redemption From Jefferies’ Point Bonita

Singapore’s sovereign wealth fund asked to pull some cash from a Jefferies Financial Group Inc. fund with large exposure to bankrupt First Brands Group, according to people familiar with the matter.

GIC has been in talks to redeem some of its funds invested with Point Bonita Capital in recent weeks, said the people, who asked not to be named discussing private matters. Point Bonita, a unit of Jefferies’ Leucadia Asset Management, had about a quarter of its $3 billion trade-finance portfolio invested in First Brands-related receivables.

Spokespeople for GIC and Jefferies declined to comment.

Late on Sunday, Jefferies said ...