Private equity firm buys into Refco

Refco is a major broker of commodity derivatives, foreign exchange contracts, government bonds, emerging market debt and is also one of the world's largest clearing firms for derivatives.

Refco has not divulged the financial terms of the deal, although the broker did say the transaction values the company at approximately $2.25 billion. THL is taking a 57% stake, leaving Phillip Bennett, Refco’s chief executive, with the remaining 43% stake.

Robert Mercorella, Refco’s New York-based senior

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