Related Party Transactions

6 Months Ended

Jun. 30, 2013

Related Party Transactions [Abstract]

Related Party Transactions

Note 27. Related Party Transactions

Jefferies Capital Partners and JEP IV Related Funds. Jefferies has loans to and/or equity investments in private equity funds and in Jefferies Capital Partners, LLC, the manager to the Jefferies Capital Partners funds, which are managed by a team led by Brian P. Friedman ("Private Equity Related Funds"). Reflected in our Consolidated Statement of Financial Condition at June 30, 2013 are loans to and/or equity investments in Private Equity Related Funds of $85.2 million. For further information regarding our commitments and funded amounts to Private Equity Related Funds, see Note 24, Commitments, Contingencies and Guarantees.

Berkadia Commercial Mortgage, LLC. At June 30, 2013, Jefferies has commitments to purchase $136.9 million in agency commercial mortgage-backed securities from Berkadia.

Officers, Directors and Employees. We have $39.6 million of loans outstanding to certain employees (none of whom is an executive officer or director of Leucadia) that are included in Other assets on the Consolidated Statements of Financial Condition at June 30, 2013.

National Beef enters into transactions with an affiliate of NBPCo Holdings, LLC ("NBPCo Holdings") and U.S. Premium Beef, LLC ("USPB"), owners of redeemable noncontrolling interests in National Beef. For the six month 2013 period, sales to and purchases from the affiliate of NBPCo Holdings were $13.1 million and $4.8 million, respectively, and for the six month 2012 period, sales to and purchases from the affiliate of NBPCo Holdings were $53.3 million and $12.5 million, respectively. We believe these transactions are based upon prevailing market prices on terms that could be obtained from an unaffiliated party. National Beef has entered into a cattle supply agreement with USPB pursuant to which National Beef has agreed to purchase through USPB from the members of USPB 735,385 head of cattle per year (subject to adjustment), based on pricing grids furnished by National Beef to the members of USPB. National Beef believes the pricing grids are based on terms that could be obtained from an unaffiliated party. During the six month periods ended June 30, 2013 and 2012, National Beef obtained approximately 22% and 21%, respectively, of its cattle requirements through USPB. At June 30, 2013, amounts due from and payable to these related parties were not significant.