The following is taken from the Jenkins log:
00:00:03.135 > git fetch --tags --progress git@github.com:some_org/some_repo.git +refs/heads/*:refs/remotes/orig
At least in our case, the issue was git version. We upgraded from 1.9 to 2.1.2 and issue got resolved. When I first posted the question, I was under the wrong impression that the upgrade already took place..