This excerpt taken from the JEF 10-K filed Mar 1, 2006.
As of December 31, 2005, we had outstanding guarantees of $24.0 million relating to undrawn bank credit obligations of two associated investment funds in which we have an interest. In addition, we guarantee up to an aggregate of approximately $30 million in bank loans committed to an employee parallel fund of Jefferies Capital Partners IV L.P (Fund IV).
Also, we have guaranteed the performance of JIL and JFP to their trading counterparties and various banks and other entities, which provide clearing and credit services to JIL and JFP. In addition, as of December 31, 2005, we had commitments to invest up to $160.5 million in various investments, including $113.0 million in Jefferies Babson Finance LLC, $34.6 million in Fund IV and $12.9 million in other investments.