JLL Partners Closes Fund IX with $1.4 Billion in Investor Backing to Acquire and Grow Specialized Companies Across Healthcare Industrial and Business Services Sectors

JLL Partners, a New York City-based private equity firm that has carved out a strong reputation in the middle market, has officially closed its ninth fund, Fund IX, L.P., with around $1.4 billion in equity commitments.

The fund attracted support from a mix of long-term backers and new investors, spanning the full institutional spectrum, signaling continued confidence in the firm’s investment approach.

Early Investments Reflect Diverse Strategy

Fund IX is already off to a busy start, having completed four strategic investments across a variety of sectors:

• Vascular Technology, Inc. – A medical device company specializing in intraoperative surgical tools.
• Solvias – An analytical testing provider serving the pharmaceutical and biotech industries.
• Talica – A precision surface treatment provider delivering high-purity solutions for regulated end markets.
• PowerParts Group – A supplier of high-precision aftermarket replacement parts for large-frame steam and gas turbines.

These early moves illustrate JLL Partners’ multi-sector focus, targeting companies where operational improvements, strategic growth initiatives, and market consolidation can generate strong returns.

Leadership with a Track Record

The firm is led by Managing Partners Dan Agroskin, Kevin Hammond, and Frank Rodriguez, who collectively bring decades of experience in healthcare, industrials, and business services investments.

Since its founding in 1988, JLL Partners has deployed approximately $8 billion in equity capital through nine funds, supporting 61 platform investments.

The firm emphasizes growth through both acquisitions and organic expansion, combining strategic guidance with operational enhancements to unlock value.

Fund IX in Context

This latest fund comes at a time when private equity in the middle market is facing both opportunities and challenges.

Healthcare, industrials, and business services remain robust sectors for investment, particularly as demand for specialized medical devices, precision manufacturing, and technical services continues to grow globally.

JLL’s mix of proven deal-making experience and operational know-how positions Fund IX to capitalize on these trends.

What’s Next?

Looking ahead, investors and market watchers will be keen to see which additional companies Fund IX targets.

The firm is expected to continue identifying niche businesses with potential for scale, operational efficiency, and strategic consolidation.

Given JLL Partners’ history, the next wave of investments could further strengthen its portfolio and drive meaningful growth in each sector.

Summary

JLL Partners has successfully closed Fund IX with $1.4 billion in commitments, supported by both longtime and new investors.

The fund has already invested in four companies spanning healthcare, industrials, and business services, reflecting a strategic approach that blends operational improvement with market growth.

Led by experienced managing partners, JLL continues to leverage its decades-long track record to capitalize on opportunities in the middle market, signaling an ambitious roadmap for Fund IX in the years ahead.