Wafra Inc., the alternative-asset manager that invests on behalf of Kuwait, acquired a minority stake in private equity firm Oak Hill Capital from Jefferies Financial Group Inc.

Jefferies said in a securities filing on Friday that it realized about $175 million in net revenue from the sale of its interest in Oak Hill and certain affiliates. It had owned the 15% stake since 2019.

Over the past decade, Wafra and backers of its affiliate, Capital Constellation, have committed $5 billion to dozens of firms that count it as a co-owner. Wafra’s partners, including Alaska Permanent Fund Corp., Railpen and Sweden’s AP3, have made follow-on investments in excess of $8 billion, Adamson said. 

Read more: BNN Bloomberg