JLL Partners, a New York-based private equity firm, closed its seventh fund at $1 billion.
LPs who committed to JLL Fund VII LP include Colorado PERA, Cal Regents, Montana, Travelers Companies and funds and accounts advised by Neuberger Berman.
Founded in 1988, the firm makes control equity investments by supporting good companies in complicated situations with a particular focus on healthcare services, aerospace and defense, business / financial services and building products.
The new fund has already made three investments: two in aerospace-related industries and one in building products.
JLL Partners has approximately $4.7 billion invested over 28 years.