JLL Partners Closes $1.4B Mid-Market Healthcare, Industrials Strategy

JLL Partners has closed JLL Partners Fund IX, L.P. with approximately $1.4 billion in equity commitments, exceeding its target and topping its $866 million predecessor fund. 

The New York-based middle-market private equity firm, which focuses on healthcare, industrials and business services, drew support from both longstanding and new institutional limited partners. 

“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,” said Managing Partners Dan Agroskin, Kevin Hammond and Frank Rodriguez. 

Fund IX 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 biotech clients; Talica, a precision surface treatment provider focused on regulated end markets; and PowerParts Group, an aftermarket supplier of high-precision replacement parts for large-frame steam and gas turbines. 

Since its founding in 1988, JLL Partners has invested approximately $8 billion of equity capital across nine funds, completing 61 platform investments. 

Weil, Gotshal & Manges LLP acted as fund counsel and Houlihan Lokey as placement agent.