03:41 PM EDT, 10/08/2025 (MT Newswires) -- BlackRock ( BLK ) has asked to withdraw part of its investment from a Jefferies (JEF) fund with significant exposure to the trade debt of bankrupt auto parts maker First Brands Group, Bloomberg reported Wednesday, citing people familiar with the matter.

Other investors, including the Texas Treasury Safekeeping Trust, also sought partial redemptions from Point Bonita Capital, a Jefferies unit managing about $3 billion in trade-finance assets, according to the report.

The fund held roughly $715 million in receivables owed to First Brands, Jefferies said.

Payments from First Brands stopped on Sept. 15, ahead of its Sept. 28 bankruptcy filing. Jefferies said its unit Leucadia holds a 5.9% stake in Point Bonita, meaning most losses would fall on outside investors.

BlackRock ( BLK ) and Jefferies did not immediately respond to MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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