J.F. Lehman wraps up fourth mid-market fund at $833 mln

Arlington, Virginia and New York City-based J.F. Lehman & Company, a middle-market private equity firm focused on the aerospace, maritime and defense sectors, closed its oversubscribed fourth fund at a hard cap of $833 million, beating its $700 million target.

The limited partners of JFL Equity Investors IV LP and its affiliated investment vehicles included public and private pension funds, insurance companies, fund-of-funds, family offices, endowments and foundations. Also, J.F. Lehman’s operating executive board and general partners made commitments to JFL IV.

The fund will focus on acquisitions in the U.S. and UK.

The firm’s previous fund closed at $575 million in 2011. No performance data was available about JFL III.

Stanwich Advisors LLC served as financial adviser and placement agent for JFL IV while Debevoise & Plimpton LLP provided the legal counsel.

Businessman collecting money from tree with bucket full of money. Photo courtesy ©iStock/cherezoff