About This Fund
JFL Credit Opportunities I, L.P. is an opportunistic credit fund managed by J.F. Lehman & Company (JFLCO), the New York-based private equity and credit firm specialising in aerospace, defense, government services, maritime, environmental and infrastructure sectors. In April 2025, JFLCO closed a continuation vehicle for Credit Fund I, bringing in new capital commitments alongside the portfolio of credit positions formerly held by JFL Equity Investor VI and its affiliates. The transaction was led by Pantheon, a leading global private markets investor, with StepStone Group also participating, and was advised by Jefferies LLC and Davis Polk & Wardwell LLP.
The fund pursues an opportunistic credit strategy spanning syndicated credit, secondary direct lending and distressed situations, focusing exclusively on JFLCO's core target industries: aerospace and defense, government services, maritime, environmental services and infrastructure. JFLCO's credit program was established in 2023 in partnership with Evan Lederman and Lionel Jolivot, whose complementary credit expertise in sector-focused middle-market lending aligned with the firm's longstanding private equity strategy. The credit team evaluates opportunities where sector-specific knowledge provides an informational advantage in structuring and pricing complex transactions.
J.F. Lehman & Company, founded in 1992, manages over $8 billion in total assets under management across its private equity and credit strategies. The firm's decades-long focus on defence, maritime and government-adjacent industries positions it as a specialist credit lender in sectors where security clearances, regulatory expertise and long customer relationships represent meaningful barriers to entry. Credit Fund I's continuation vehicle structure reflects strong sponsor and LP conviction in the existing portfolio's long-term value creation potential.