Government Services

AE Industrial Partners Fund III, LP (AEIF III) is the third flagship private equity fund of AE Industrial Partners (AEI), a Boca Raton, Florida-based investment firm founded in 2015 that has grown to manage $9 billion in total assets across private equity, aircraft leasing, and venture capital strategies. Launched in 2023 and achieving its final close in July 2024 at $1.28 billion in capital commitments, AEIF III secured backing from an institutional investor base comprising leading endowments, charitable foundations, public and corporate pension funds, financial institutions, funds of funds, family offices, and sovereign wealth funds. The fund is co-led by Michael Greene and David Rowe, Co-CEOs and Managing Partners, who together oversee a 109-person professional team with deep relationships across AEI's target end markets. AE Industrial Partners Fund III pursues control investments in market-leading companies occupying critical supply-chain "toll gate" positions across the U.S. aerospace, defense, national security, and industrial services sectors, with a focus on businesses positioned to scale production in response to sustained and growing demand from government and commercial end markets. The fund's investment mandate targets differentiated, mission-critical businesses with long-product-lifecycle characteristics—companies where AEI's specialized industry knowledge, operating experience, and relationships create tangible competitive advantage. The strategy encompasses both organic growth initiatives and acquisition-driven consolidation, leveraging AEI's established network of industry relationships built across 155-plus investments closed since 2015. Co-investment of nearly $870 million alongside Fund III capital commitments has been extended to limited partners and other investors, underscoring the depth of AEI's deal flow and institutional LP relationships. As of its announcement, AE Industrial Partners Fund III had already deployed more than 25% of committed capital into five platform investments and three add-on acquisitions: York Space Systems (commercial spacecraft manufacturing), RedLattice (cybersecurity and defense technology), Firefly Aerospace (launch vehicles and spacecraft), Yingling Aviation (aviation services), and Calca Solutions (specialty industrial services). These investments reflect AEIF III's core thesis—backing companies at the intersection of national security, advanced manufacturing, and space—sectors experiencing structural tailwinds from increased U.S. defense budgets, commercial space expansion, and supply-chain modernization initiatives. AE Industrial Partners' cumulative platform of $9 billion in AUM and 50-plus current portfolio companies positions Fund III within a market-leading franchise that has consistently been among the most active private equity investors in U.S. aerospace and defense since the firm's founding.

Since its founding in 1999, Arlington Capital Partners has carved out a specialty in investing in companies operating in regulated, mission‑critical industries such as defence, aerospace, government services and healthcare IT. With Fund VII, the firm builds on its legacy by raising an unprecedented US$6 billion in commitments—a marked increase over its prior fund—demonstrating the strength of investor conviction around structural trends in national security, supply‑chain reshoring, and government‑technology modernization. Fund VII will deploy capital into platform investments across sectors including manufacturing and supply‑chain resiliency, mission‑critical government software, next‑generation defence technologies, cybersecurity, commercial aviation, advanced medical devices and healthcare IT. The fund aims to partner with management teams in companies with strong regulatory barriers, recurring government demand, and defensible business models, leveraging Arlington’s domain expertise in regulated markets. The geographic focus is principally in the U.S. and allied markets, consistent with the firm’s strategy of backing companies operating in the context of rising defence budgets and national‑security imperatives. By targeting assets in sectors with high certainty of long‑term demand and regulatory anchoring, the fund seeks to generate attractive returns while also aligning with public‑policy tailwinds. From a financial‑characteristics perspective the fund is targeting middle‑market companies—investments are expected to be in companies with enterprise values typically in the range of US$50 million to US$1 billion, and equity investments (platform check sizes) in the ballpark of US$200 million to US$500 million.

J.F. Lehman & Company (“JFLCO”)'s is a continuation fund for JFL Credit Opportunities I, L.P. Credit Fund I’s assets under management include new capital commitments as well as the portfolio of credit positions formerly held indirectly by JFL Equity Investor VI, L.P. and its affiliates (“Fund VI”) in high-quality, middle-market companies within the firm’s target industries (aerospace, defense, government, maritime, environmental and infrastructure sectors). Pantheon, a leading global private markets investor, acted as the lead investor, with StepStone Group also participating. JFLCO’s credit strategy is opportunistic in nature, spanning syndicated credit, secondary direct lending and distressed situations across the firm’s core industries.