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US-based JLL Partners closes $1.5bn fund

22 Dec 2005

US-based private equity firm JLL Partners has closed its latest fund, JLL Partners Fund V, on $1.5bn. Investors include universities, endowments, corporate pension funds, state and union pension plans, family offices and funds of funds.

JLL founder Paul S Levy, ‘We are pleased and proud to have the continued support of so many long-standing limited partners and to have established relationships with an excellent group of new ones as well. We had set out to raise $1.25bn, with a hard cap of $1.5bn, and have met our cap, although we are disappointed to have had to turn away many interested parties.

‘We know how competitive the market is and have great respect for our peer group, but we will continue to look for opportunities where we can both buy and create value over time,’ Levy added.

JLL invests across a wide range of manufacturing and service industries. The firm has invested in sectors including healthcare services, food and consumer products, chemicals, broadcasting, transportation, automotive and industrial manufacturing.

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