New York-based middle market firm JLL Partners has raised $254 million for its seventh fund, according to SEC filings. The fund has a target of $1.1 billion.
JLL declined to comment on fundraising.
The firm’s previous fund closed on $807 million in 2010, according to Private Equity International’s research and analytics division.
Sources familiar with the new fund say it will follow the same strategy as predecessor funds, focusing on buyout investments and turnaround investments in North America.
JLL has invested in healthcare services, medical products, food and consumer products, chemicals, broadcasting, transportation, automotive, industrial manufacturing, and distribution.
Jefferies is acting as placement agent for the fund.
At the end of last month, JLL Partners-backed DPx Holdings BV acquired Gallus BioPharmaceuticals from Ridgemont Equity Partners for an undisclosed sum. That deal will make the combined company a major provider of biologics products. The deal will also expand DPx Holdings facilities in Europe, Australia and North America.
JLL Partners was founded in 1988 as Joseph, Littlejohn & Levy and subsequently changed its name to JLL Partners in 2002. It is among the leading private equity investment firms in the US.