J.F. Lehman & Company (JFL) has closed its latest flagship fund, JFL Equity Investors VI LP, with $2.2 billion in capital. This new fund is the largest ever raised by JFL and significantly exceeded its original target of $1.6 billion.
J.F. Lehman is a middle-market private equity firm focused primarily on the maritime, defense and aerospace sectors. The firm invests from $50 million to $350 million of capital in companies with EBITDA of $10 million to $75 million. JFL was founded in 1992 by Dr. John Lehman, who served six years as Secretary of the United States Navy. J.F. Lehman is headquartered in New York City, and it has an additional office in Washington, D.C.
“The highly successful outcome of this marketing effort reflects our demonstrated ability to source intrinsically valuable companies, drive tangible improvements across our portfolio and the substantial confidence placed in our team,” said Louis Mintz, a partner at JFL.
Recent transactions closed by JFL include the March 2024 acquisition of Mission Microwave Technologies, a California-based manufacturer of components used in satellite communications systems; the October 2023 acquisition of Heritage-Crystal Clean, a waste services provider specializing in used oil re-refining and parts cleaning; and the March 2023 purchase of Atlas Air Worldwide, a New York-based provider of outsourced aircraft and aviation operating services, in partnership with Apollo and Hill City Capital.
“We are grateful for the support from our longstanding partners, many of which endorsed our efforts early in the process with increased conviction,” added Karina Perelmuter, a managing director and the head of investor relations and marketing at JFL. “We are equally appreciative of the trust and confidence placed in our team by the many new partners backing our sector-focused strategy.”
UBS Securities was the placement agent for this fundraise and Davis Polk & Wardwell provided legal services.
With the close of the new fund, JFL now has a total of $7 billion in assets under management.
© 2024 Private Equity Professional | December 12, 2024
