JLL Partners, a New York-based middle market private equity firm focused on the healthcare, industrials, and business services sectors, announced the final close of JLL Partners Fund IX, L.P., with approximately $1.4 billion in equity commitments.
The fundraise significantly exceeded the fund’s target and was larger than its predecessor vehicle, which closed at approximately $866 million. The firm said Fund IX drew strong backing from a mix of longstanding and new limited partners across the institutional landscape.
Fund IX continues JLL Partners’ long-established strategy of identifying durable themes within its core industries, partnering with management teams, and acquiring middle-market businesses with the potential to become market leaders.
As the firm approaches its 40th anniversary, JLL Partners said it plans to deploy Fund IX’s capital to support growth and transformation initiatives within its focus sectors.
The fund has already completed four investments: Vascular Technology, Inc., a medical device company specializing in intraoperative surgical devices; Solvias, an analytical testing provider serving pharmaceutical and biotechnology clients; Talica, a precision, high-purity surface treatment provider serving regulated end markets; and PowerParts Group, an aftermarket supplier of high-precision replacement parts for large frame steam and gas turbines.
Founded in 1988, JLL Partners has invested approximately $8 billion of equity capital across nine private equity funds and completed 61 platform investments.
Support: Weil, Gotshal & Manges LLP served as fund counsel, and Houlihan Lokey acted as placement agent.
KEY QUOTE:
“We are grateful for the continued trust and confidence of our investors in Fund IX, which we believe reflects the Firm’s long-term performance, disciplined investment approach and strength and continuity of the team. As JLL approaches its 40th anniversary, we and our colleagues are eager to continue building upon the Firm’s legacy of success and deploy Fund IX’s capital to support business growth and transformation within our core focus sectors. We would also like to thank the managers at our portfolio companies for their tireless efforts on behalf of our Firm and limited partners.”
Dan Agroskin, Kevin Hammond And Frank Rodriguez, Managing Partners Of JLL Partners
