We advised J.F. Lehman on the continuation fund

Davis Polk advised J.F. Lehman & Company (JFLCO) in connection with a continuation fund transaction whereby a portfolio of credit positions formerly held indirectly by JFL Equity Investors VI, LP and its affiliated investment vehicles was sold to JFL Credit Opportunities I, LP, a newly formed continuation vehicle managed by JFLCO. The continuation fund closed with commitments from new investors, including, among others, Pantheon, as lead investor.

Founded in 1992, J.F. Lehman & Company is a leading middle-market private equity firm that focuses exclusively on investing in the aerospace, defense, maritime, government and environmental industries. In early 2023, JFLCO expanded its investment capabilities into credit to complement its long-standing private equity strategy. The firm has offices in New York and Washington DC.

The Davis Polk investment management team included partners Andrew M. Ahern and Luke P. Eldridge and associates Caleb Beavers and Mitchell Aronoff. Partner Darren M. Schweiger and associate Joshua B. Pittell provided corporate advice. Partner Ethan R. Goldman and associates William Liang and Shea Jendrusina provided tax advice. All members of the Davis Polk team are based in the New York office.

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