JLL To Make 3X Money with Sale of PharmaNet

With its sale of PharmaNet Development Group, JLL Partners stands to make 3x its original investment, a source says. JLL, a New York PE firm, said today it was selling PharmaNet to inVentiv Health, which is owned by Thomas H. Lee Partners. Financial terms weren't announced. The deal is expected to close on or about June 30. BofA Merrill Lynch, Citi and Jefferies Finance are providing financing.

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