The JFL Equity Investors III fund, sponsored by JF Lehman & Company (JFL), has raised $500.4 million, Citybizlist reports. The private equity fund received investments from 36 investors.

Connecticut-based Stanwich Advisors will get about $5 million in fees related to the offering, JFL said in a filing with the Securities and Exchange Commission. Until now, the New York-headquartered JFL has invested $1.6 million in middle market companies.

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