AE Industrial Partners Closes $850 Million Continuation Vehicle for Blue Raven, Led by Lexington Partners

Continuation Vehicle Provides Capital to Accelerate Blue Raven’s Position as the Leading Technology-Enabled Distribution Platform Serving the Global Defense Marketplace

BOCA RATON, Fla.--(BUSINESS WIRE)--AE Industrial Partners, LP (“AE Industrial”), a private investment firm focused on technologies and services considered critical to national and economic security, today announced the closing of AE Industrial Partners BR Fund, LP, a new single asset continuation vehicle of approximately $850 million in connection with the recapitalization of its portfolio company Blue Raven (the “Company”).

The continuation vehicle is led by Lexington Partners (“Lexington”), with additional investment from several leading institutional investors. Blue Raven management and certain existing shareholders rolled significant proceeds in connection with the transaction.

“Blue Raven has delivered impressive scale, diversification and organic growth,” said Jon Nemo, Managing Partner at AE Industrial Partners. “This continuation vehicle will provide additional capital to accelerate growth through a broad range of organic initiatives and potential strategic acquisitions, while strengthening our value proposition to customers and OEM partners.”

Since AE Industrial’s initial investment in 2019, Blue Raven has developed into the leading technology-enabled distribution platform in the global defense marketplace, serving as the authorized and exclusive distributor of highly engineered parts, complex systems and hard-to-source components for a growing list of OEM partners to customers in more than 40 countries. Powered by its proprietary SEDNA analytics platform, the Company provides real-time intelligence and forecasting to reduce lead times, mitigate obsolescence, and maintain mission readiness.

“We are proud to continue our partnership with Blue Raven and welcome Lexington as our new lead investor,” said Charlie Compton, Managing Partner at AE Industrial Partners. “Lexington is a leader in secondary private equity investing and shares our conviction in Blue Raven’s strategy and future growth opportunity.”

“Blue Raven’s differentiated business model, strong performance and attractive defense market exposure drove our conviction in this investment,” said Jeff Bloom, Partner at Lexington. “We are excited to partner with an industry expert like AE Industrial and the proven management team at Blue Raven in this next phase of growth for the Company.”

“This investment will allow Blue Raven to better capitalize on the immense opportunity to solve increasingly complex supply chain challenges in the global defense market,” said Tim Driscoll, CEO of Blue Raven. “We welcome our new investors and appreciate the continued leadership from AE Industrial.”

Harris Williams served as lead financial advisor and Kirkland & Ellis served as legal counsel to AE Industrial and Blue Raven. Simpson Thacher & Bartlett served as legal counsel to Lexington.

About AE Industrial Partners:

AE Industrial Partners is a private investment firm with approximately $9.4 billion of assets under management as of June 30, 2026, focused on investing in technologies and services considered critical to national & economic security. Since 2015, AE Industrial has completed more than 155 investments in market-leading companies that benefit from its deep industry knowledge, operating experience and network of relationships across the sectors where the Firm invests (national security, aerospace and industrial services). With a commitment to driving value creation in partnership with the management teams of its portfolio companies, AE Industrial invests across private equity, venture capital and aerospace leasing. AE Industrial is headquartered in Boca Raton, FL and has an office in Washington, D.C. Learn more at www.aeroequity.com.

About Lexington Partners

Lexington Partners is one of the world’s largest and most successful managers of secondary private equity and co-investment funds, with over $86 billion of total capitalization. The firm helped pioneer the development of the institutional secondary market over 36 years ago and created one of the first independent, discretionary co-investment programs 28 years ago. Lexington provides strategic, customized liquidity solutions to global investors and private equity sponsors alike, supported by its dedicated and well-capitalized secondary, continuation vehicle, and co-investment platforms. Lexington’s experienced professionals are strategically located in major centers for private equity and alternative asset investing across North America, Europe, Middle East, Asia and Latin America. Lexington is the global secondary private equity and co-investments specialist investment manager of Franklin Templeton. Additional information can be found at lexingtonpartners.com.