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Laxman Pai, Opalesque Asia: J.F. Lehman & Company (JFLCO), a private equity firm specializing in acquiring lower middle market companies, has closed its sixth flagship fund at $2.23 billion, marking the largest fundraising in its 33-year history.
The new fund, JFL Equity Investors VI, significantly exceeded its initial target of $1.6 billion and showcases the firm's growing presence in the aerospace, defense, maritime, government, and environmental sectors, said a media release from the New York-headquartered private equity firm.
At $2.23 billion, the offering marks the largest in the firm's 33-year history and was meaningfully oversubscribed relative to its $1.6 billion target, added the release.
Fund VI will enable JFLCO to continue to execute its long-standing investment strategy leveraging over three decades of specialized industry knowledge and demonstrated operational capabilities to help companies reach their full potential. The new fund increases the firm's total assets under management to $7 billion as of November 30, 2024.
Louis N. Mintz, Partner said: "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. We are determined to continue to generate attractive risk-adjusted returns as we continue to deploy and manage Fund VI."
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