Middle-market private equity firm J.F. Lehman & Co. held a final close of its new fund, JFL Equity Investors III L.P., with commitments of $575.5 million, the firm announced. The fund closed above its original target of $450 million. Based in New York, the firm focuses on the defense, aerospace and maritime industries.
J.F. Lehman & Company, a leading middle-market private equity firm focused on the defense, aerospace and maritime industries, recently announced the final closing of JFL Equity Investors III, L.P. and affiliated investment vehicles (“JFL Fund III”). The funds closed on commitments of $575.5 million, above an original target of $450 million in limited partner commitments due to strong support from existing investors and demand from new investors. JFL Fund III follows JFL Fund II, with commitments of $335.3 million, and JFL Fund I, with commitments of $130.9 million.
JFL Fund III commitments were secured from a diversified group of over thirty institutions based in North America and Europe. These institutions include leading public and private pension funds, global financial institutions, domestic and foreign insurance companies, fund-of-funds, family offices, endowments and foundations. Additional commitments were provided by members of J.F. Lehman & Company’s Operating Executive Board and the general partners of the funds.
“We are pleased to have received strong support from our long-standing investment partners as well as support from a high quality group of new investors,” said Louis N. Mintz, Partner. “We will continue to pursue our focused and disciplined investment strategy to achieve strong results.”
J.F. Lehman & Company focuses exclusively on the defense, aerospace and maritime industries and the technologies that originate from them. This investment strategy reflects the firm’s deep experience in and commitment to these sectors for nearly two decades. Consistent with the firm’s historical investment program, the funds will focus on control ownership positions in leveraged acquisitions of high quality companies in the firm’s target industries in the United States and the United Kingdom. JFL Fund III has completed one acquisition to date: the June 2011 investment in US Joiner, a leading provider of end-to-end marine joiner and related shipbuilding solutions for U.S. Government and commercial customers.
“We attribute the strong response from leading investors to the J.F. Lehman team,” said John F. Lehman, Chairman. “Decades of industry-specific investment experience combined with our specialized knowledge of the industries in which we invest are what enable us to help our portfolio companies realize their full potential.”
Stanwich Advisors, LLC acted as the exclusive financial advisor and placement agent for the offering and Debevoise & Plimpton LLP provided legal counsel for the formation of the funds.
About J.F. Lehman & Company
J.F. Lehman & Company is a leading middle-market private equity firm focused exclusively on the defense, aerospace and maritime sectors. The firm has offices in New York and Washington, D.C.
For more information about J.F. Lehman & Company, please visit www.jflpartners.com.
About Stanwich Advisors
Founded in 2003, Stanwich Advisors, LLC is a boutique investment bank focused exclusively on providing advisory and fundraising services to private equity and venture capital partnerships globally. Stanwich Advisors, LLC utilizes its seasoned investment banking and private placement team to provide senior hands-on execution for a select number of clients each year. Since 1996, the Stanwich Advisors Principals have raised over $17 billion for more than 40 private equity funds across a wide range of investment strategies.