Leucadia Asset Management

LAM provides its affiliated asset managers with:

• Access to stable, long-term capital
• Robust operational infrastructure
• Global distribution

LAM benefits from the permanent capital, brand and resources of its parent, Jefferies Financial Group Inc. ("JEF"), which has over 40 years of investing experience and a history of creating, acquiring, building and operating a diverse set of businesses and strategies.

LAM maintains substantial investments and/or equity stakes in its affiliated asset managers. This allows each manager time to grow at the speed most suitable for its strategy and business, and helps align the interests of LAM, its managers and its investors.

Overview of value to institutional investors

Allocating assets to LAM allows institutional investors to:

• Co-invest alongside JEF, which maintains strategic investments and/or equity interests in LAM-affiliated asset managers
• Access a diversified range of alternative investment strategies offered through LAM's affiliated asset managers
• Benefit from the institutional infrastructure, relationships and long-term capital provided by JEF and LAM

LAM draws on long-term relationships with subsidiaries of JEF (including the investment bank Jefferies LLC) and the wider financial community to provide additional insight and opportunities to its affiliated asset managers and investors.

By the numbers (as stated on the website)

As presented on the LAM website:

• Affiliated boutiques: 18*
• Capital: $24BN**
• Assets: $65BN***

The website explains these figures as follows:

• *Leucadia Asset Management provides a central infrastructure and support hub for the diverse strategies on the platform, which includes strategic business development, operations, compliance and capital raising support.
• Capital of $24BN includes equity and long term debt as of February 28, 2026.
• Assets of $65BN represents Net Asset Value or Net Asset Value Equivalent as of February 28, 2026. The aggregate AUM of the LAM platform includes direct assets under management, certain asset management activities with Jefferies Financial Group, and AUM of affiliated asset managers in which LAM has a revenue share or equity interest, and/or with which JEF has invested balance sheet capital.

Historical milestones (high level)

The website highlights a series of milestones illustrating the evolution of LAM and its relationships with affiliated managers, including:

• The founding of Leucadia National Corporation (now Jefferies Financial Group Inc.) in 1979
• The formation of Jefferies Finance in 2004
• The acquisition of Jefferies Group by Leucadia (initial stake in 2008 and remaining stake in 2013)
• The launch and subsequent expansion of the LAM platform, including strategic relationships formed with multiple affiliated asset managers across 2013–2025

These milestones are presented as part of LAM's long-term development and the continued build-out of its alternative asset management platform.

To learn more about what LAM has to offer, the website directs inquiries to:

• Email: ir@leucadia-am.com
• Phone: 212.778.8340

Office address

• Address:

520 Madison Avenue New York, NY 10022

This is the primary contact information published on the Contact Us page for Leucadia Asset Management.

Lists Sanford, Lawrence, Jefferson City, Kirkwood, Columbus, Wharton, Cambridge, and Amherst as a location. Names New York as a service area. Areas beyond these are not published.

Key areas of support for asset managers

According to the LAM website, support for affiliated asset managers is provided across several key areas:

Strategic growth partner

• Jefferies Financial Group Inc. ("JEF") has a long history of building successful businesses.
• Senior management is involved in developing strategy for each affiliated asset manager.
• Ability to provide capital at each stage of a manager's growth.
• Ability to help think through and support product development.

Operations and finance

• Daily trade, position, P&L and cash reconciliations.
• Accounting and tax support.
• Entity maintenance.
• Coordination with external financial auditors.
• Budget processes.

Compliance

• Team of global compliance professionals.
• Expertise across regulatory matters.
• Specialization across multiple jurisdictions affecting buy-side and sell-side partners and clients.

Legal

• Team of lawyers with the ability to draw on in-house expertise for the majority of situations across legal frameworks.
• Strong, established relationships with experienced external counsel.

HR and infrastructure support

• Office space: lease, build-out and maintenance.
• IT systems: set-up, desktop support and disaster recovery.
• Human resources.
• Business continuity.
• Procurement.
• Internal audit.

Business development

• Dedicated team focused on capital raising.
• Developing strategic relationships.
• Competitive and market analysis.
• Collateral materials.
• Conferences and road shows.
• Investor relations.

Collaborative culture

LAM describes its approach as a collaborative one, emphasizing that the collective expertise of LAM and its parent, JEF, is more powerful than any one firm.

LAM has established a culture of integrity through collaboration between its leadership and the management teams of each affiliated asset manager. In addition to adding value, LAM seeks to:

• Cultivate and capture distinct growth opportunities.
• Foster deep industry and investor relationships.
• Apply knowledge acquired through decades of working with asset managers, investors and other stakeholders.

This framework is presented as part of LAM's commitment to its affiliated asset managers' long-term success.

The LAM platform lists the following strategy areas, spanning public and private markets:

• Multi-manager
• Multi-strategy
• Multi-manager equity investing
• Multi-manager "first loss" model
• Private credit
• Trade finance
• Equity and debt capital markets
• Energy and industrials
• Commodities
• Distressed / special situations corporate credit
• Real estate
• European opportunistic credit
• Long/short bank credit
• Healthcare long/short equity
• Asset-based and opportunistic credit
• Multi-strategy quant
• Digital assets
• Fintech venture capital

These strategy categories are offered through funds and strategies managed by LAM's affiliated asset managers.

Examples of affiliated strategy platforms

The website provides examples of specific multi-manager and multi-PM platforms and offerings available through LAM's affiliated managers, including:

Asia multi-PM platform

• Asia-focused multi-manager platform investing across equities, credit, fixed income/rates, FX and commodities within the region.
• The Dymon Asia Multi-Strategy Investment Fund ("Dymon Asia") seeks to generate consistent, uncorrelated, absolute returns by allocating capital to a diversified group of dedicated PM specialists across equities, credit, fixed income/rates, FX and commodities.

Multi-manager equity investing

• Market-neutral equity platform focused on fundamental and tactical trading strategies across the U.S., Europe and Asia.
• Schonfeld Strategic Advisors LLC ("Schonfeld") is a multi-PM platform that invests its capital with portfolio managers across fundamental equity, quantitative, tactical, and discretionary macro and fixed income trading strategies.

Multi-manager "first loss" model

• First-loss, multi-manager and multi-strategy liquid securities platform.
• Topwater Capital ("Topwater") manages a multi-strategy, multi-manager fund wrapped in a structure commonly referred to as "first loss", which is designed to mitigate drawdown risk for investors.

Multi-PM equity market-neutral platform

• Multi-PM, fundamental equity market-neutral platform built on proprietary insights into where alpha resides within equity markets.
• Catenary Alternatives Asset Management ("Catenary") uses granular data collection and advanced modeling techniques to identify portfolio managers who aim to deliver high-quality alpha via fundamental research into less competitive equity securities.

Multi-PM all-weather platform

• Multi-PM platform investing across a broad range of investment strategies, including fundamental equity long/short, quant, relative value, event driven and macro.
• Pacific Way Capital Management ("Pacific Way") is described as pursuing an all-weather approach, seeking to deliver attractive returns with low volatility, near-zero equity beta, low correlation and a focus on capital preservation.

Important notes

• Detailed terms, structures, fees, eligibility criteria and risk factors for any given fund or strategy are not described in detail on the public website and are not covered by this agent.
• For specific information about a particular fund, vehicle or strategy, investors are directed to request official offering documents and speak directly with Leucadia Asset Management or the relevant affiliated asset manager.

According to the LAM website:

• A key benefit to investors allocating assets to LAM is the strategic investments and/or equity interests that its parent, JEF, has with LAM's affiliated asset managers.
• This approach is described as aligning LAM's investment objectives with those of its investors.

The affiliated asset managers offered through LAM are presented as providing potential advantages over traditional investment firms, including:

• Long-term capital investment from LAM and its parent.
• Established institutional infrastructure.
• Strategic resources that allow asset manager partners to focus on investment management and meeting investor needs.
• Access to insights and opportunities through long-term relationships with subsidiaries of JEF (including Jefferies Group) and the broader financial community.

Funds and strategies list (high level)

The website states that LAM offers the following types of funds and strategies through its affiliated asset managers:

• Multi-strategy
• Multi-manager equity investing
• Multi-manager "first loss" model
• Private credit
• Trade finance
• Equity and debt capital markets
• Energy and industrials
• Commodities
• Distressed / special situations corporate credit
• Real estate
• European opportunistic credit
• Long/short bank credit
• Healthcare long/short equity
• Asset-based and opportunistic credit
• Multi-strategy quant
• Digital assets
• Fintech venture capital

These items are presented as high-level categories rather than detailed product descriptions.

Important limitations

• The public website does not provide detailed terms, fee schedules, risk disclosures or legal documentation for specific funds or vehicles.
• This agent therefore does not quote or infer investment performance, future returns, fee levels, or detailed risk characteristics for any strategy.
• Prospective investors should request official offering documents and speak directly with Leucadia Asset Management or the relevant affiliated asset manager for information about eligibility, terms, and risks.

• Tom Daraviras
• Co-President of Leucadia Asset Management and responsible for the overall management of the business.
• Managing Director of Jefferies.
• Previously held several positions, including Partner and Managing Director, at Jefferies Capital Partners LLC or its predecessors, a middle-market private equity fund management group.
• Serves or has served on the boards of several public and private investments of Jefferies Financial Group and its affiliates.
• Holds a BS and MBA from The Wharton School of the University of Pennsylvania.

• Sol Kumin
• Co-President of Leucadia Asset Management and responsible for the overall management of the business.
• Joined LAM in 2018.
• Previously CEO of Folger Hill Asset Management (2014–2018).
• Earlier roles at SAC Capital Advisors (Chief Operating Officer for the last five years of his tenure), Sanford Bernstein and Lazard Asset Management.
• Serves on multiple boards, including Starwood Property Trust and various educational and charitable organizations.
• Holds a BA in Political Science from Johns Hopkins University.

Business development and marketing leadership

• David Del Mauro
• Global Head of Business Development and Marketing at LAM, leading the global capital raising effort.
• Joined LAM in 2017.
• Previously Vice President on the Business Development team within the Hedge Fund Group at Investcorp, and earlier roles at Credit Suisse Asset Management and Bank of America Merrill Lynch.
• Holds a BS in Finance and Marketing from Fairfield University.

• Michael Cherney
• Global Co-Head of Business Development and Marketing at LAM; responsible for overseeing investor relations, business development strategy and capital raising.
• Joined LAM in 2020.
• Previously Head of Business Development and Investor Relations for Scopia Capital, and earlier Vice President at BlackRock focused on hedge fund manager sourcing and due diligence.
• Started his career as an Investment Analyst at Amherst College.
• Holds a BA in History from Amherst College and an MBA from the Tuck School of Business at Dartmouth; CFA charterholder.

• Angus Kirkwood
• Global Co-Head of Business Development and Marketing at LAM, overseeing UK and EMEA capital raising with a particular focus on the Middle East.
• Joined LAM in 2019.
• Previously CEO and co-founder of Carrhae Capital, a London-based emerging markets equities boutique; earlier senior roles at Credit Suisse Asset Management, BlackRock and Quellos Capital Management, and began his career at UBS.
• Holds a BA Hons (First Class) and M.Phil in Economics from Cambridge University.

Legal and operations leadership

• Amy Levovitz
• Managing Director and General Counsel for Sales and Trading at Jefferies LLC.
• Coverage areas include Equities, Fixed Income, Asset Management and Wealth Management.
• At Jefferies since 2006; previously Head of Legal for Equity Derivatives (U.S.) at Société Générale, New York Branch, and Assistant General Counsel, Equity Financial Products, at Bank of America, N.A.
• Began her career at Davis Polk and Wardwell.
• Holds a JD from New York University School of Law and a BA from Bryn Mawr College; member of the New York Bar.

• Rob Smith
• Chief Operating Officer of Leucadia Asset Management, overseeing key corporate functions.
• COO of LAM since 2017.
• Previously Chief Administrative Officer for Jefferies LLC and a member of the firm's Risk Management Committee.
• Earlier roles at Jefferies included Chief Operating Officer of the Global Equities Division; prior to Jefferies, held several senior roles at Bank of America, including COO of the Global Equities Division and Global Head of Equity Finance.
• Founding member and COO of the Structured Investments Division at Bank of America.
• Holds a BA in Economics from St. Lawrence University.

This summary is intended to provide a concise view of the leadership team as presented on the public website. For full biographies, refer to the Management Team page on Leucadia Asset Management's site.

Ask anyway — the agent will say plainly that it is not published rather than guess.