{
  "id": 5912644,
  "title": "Jefferies-run fund has nearly US$500 million exposure to iron ore trader Radiant World: FT",
  "url": "https://urgent.news/2026/09/06/jefferies-run-fund-has-nearly-us-500-million-exposure-to-iron-ore",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-06T04:58:31.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/energy-commodities/jefferies-run-fund-has-nearly-us500-million-exposure-iron-ore-trader-radiant-world-ft"
  },
  "original_language": "en",
  "account": "A Jefferies-managed fund holds nearly US$500 million in exposure to iron ore trader Radiant World, according to the Financial Times on September 5, 2024. The fund, LAM Trade Finance Group II, is a unit of US bank Jefferies that holds a minority stake. The freezing order against Radiant World, its founder Pinkesh Nahar, and Sapphire Minmetals, a former part of Radiant World, was secured by the fund in a London court, as reported by Reuters on September 2, citing a person familiar with the situation. The fund's exposure significantly surpasses the US$300 million previously reported by Reuters, attributed to Jefferies' trade-finance-related exposure through its Point Bonita fund. Jefferies and Radiant World did not provide immediate comment to the FT, nor did Jefferies respond to Reuters' requests for comment. Radiant World has faced scrutiny due to alleged invalid invoices provided to its banks, which have prompted some counterparts and lenders to halt or restrict business. The company strongly denies these allegations.",
  "summary": "The fund has secured a freezing order against Radiant World, its founder Pinkesh Nahar and Sapphire Minmetals",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Moneyweb",
        "title": "World’s unusually high dollar exposure risks fuelling selloff",
        "url": "https://urgent.news/2026/09/05/worlds-unusually-high-dollar-exposure-risks-fuelling-selloff",
        "published": "2026-09-05T02:00:20.000Z"
      },
      {
        "outlet": "Straits Times Business",
        "title": "Jefferies-linked fund has almost US$500 million exposure to trader Radiant World, FT reports",
        "url": "https://urgent.news/2026/09/05/jefferies-linked-fund-has-almost-us-500-million-exposure-to-trader",
        "published": "2026-09-05T06:20:00.000Z"
      },
      {
        "outlet": "Seeking Alpha News",
        "title": "Jefferies-linked fund reportedly has $500M exposure to Radiant World",
        "url": "https://urgent.news/2026/09/05/jefferies-linked-fund-reportedly-has-500m-exposure-to-radiant-world",
        "published": "2026-09-05T15:33:14.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}