Jefferies acquires Helix

Jefferies Group, a mid-market focused investment bank has acquired placement agent Helix Associates Limited. The fund raising capabilities of Helix will add to the services Jefferies can offer private equity firms and also allow Helix to increase the number of mandates it takes on. Financial details of the transaction were undisclosed.Helix is based in London and over the years has established a strong reputation across Europe, in the US and Canada. The firm’s presence in the US will now be significantly enhanced through its association with Jefferies.Lord Charles Cecil, managing director and co-founder of Helix, said: “With Jefferies’ ability to introduce us to a broader array of middle market fund sponsors and managers, we specifically look to capitalize on the significant growth potential for us in the US.”For Jefferies, the acquisition of Helix significantly extends the group’s investment banking platform in the area of private equity fund raising and also complements the bank’s coverage of the financial sponsor and venture capital communities.Helix has five executive directors and seven other placement professionals out of a total of 17 employees. UK-based Helix Associates Limited will be added to Jefferies International Limited, the European subsidiary of Jefferies Group, Inc. Helius Associates Inc., Helix’s US operating subsidiary, will be folded into Jefferies & Company, Inc., the principal operating subsidiary of Jefferies Group, Inc. The Helix name will continue to be used to ensure continuity in the marketplace, and the business will operate as a division of Jefferies.Mark Cunnigham expects the business will increase the number of mandates it takes on per year from between three and five to a maximum of seven. It won’t however, scale up the size of the mandates and will continue to focus on mid-market fund raisings and spin-outs as it has done in the past for groups such as Altor, Bridgepoint, Exponent and Graphite.Since 1998, funds for which Helix has acted have closed with a combined value of approximately $17.5bn. The firm also acts for hedge fund-of-funds and related product providers. Millenium Associates AG advised Helix on the transaction.