Lee Equity Partners

Lee Equity Partners is an American private equity firm focused on growth capital investments in middle-market companies across a range of industries.

Lee Equity Partners
TypePrivate
IndustryPrivate equity
PredecessorThomas H. Lee Partners
Founded2006 (2006)
FounderThomas H. Lee
HeadquartersGeneral Motors Building
New York City
United States
ProductsGrowth capital
Total assets$1 billion
Number of employees
20+
Websitewww.leeequity.com
See also: Thomas H. Lee (businessman)

The firm, which is based in New York City, was founded in 2006 by Thomas H. Lee, the notable private equity investor who previously founded Thomas H. Lee Partners and also owns the Blue Star group of fund of hedge funds.[1][2][3]

History

In March 2006, Thomas H. Lee resigned from Thomas H. Lee Partners as the firm was nearing completion of fundraising for its sixth private equity fund. In the same year, Lee formed Lee Equity Partners, a private equity firm focused on the same leveraged buyout transactions that he had been completing for nearly 35 years at THL.[4][5][6]

Both Lee and THL insisted that the move was amicable; however, persistent reports suggested that Lee, who had limited his day-to-day involvement in the firm and had relocated to New York City, had been pushed out by several partners.[7]

Among the first professionals to join Lee Equity Partners included Mark Gormley, a founding partner of Capital Z Partners; David Morrison, former president and CEO of Mercer Management Consulting; and Allen Questrom, former CEO of J.C. Penney Company, Barneys New York, Federated Department Stores and Neiman Marcus. The firm also brought in former investment professionals from Bain Capital and The Carlyle Group.[8]

The firm's first investments included the acquisition of Deb Shops in 2007.[9]

References
  1. Thomas Lee separates from Thomas H. Lee Partners L.P.. Marketwatch, March 22, 2006
  2. Ex-NBC Chair to Join Lee Equity Partners. New York Times, January 31, 2008
  3. Tom Lee’s New Bet on Health Care. New York Times, November 25, 2008
  4. Thomas Lee Steps Down From His Namesake Firm March 26, 2006
  5. Founding Partner To Leave Thomas H. Lee (Wall Street Journal, 2006)
  6. "Edelman Financial to go private in $257.5M deal: ... Edelman ... is being taken private by affiliates of Lee Equity Partners LLC", AP via Business Week, April 16, 2012
  7. Lee denies discord (BusinessWeek, December 21, 2005)
  8. Seven professionals join Thomas H Lee at his new private equity firm Archived 2012-07-19 at Archive.today. AltAssets, 2006
  9. Lee Equity Buys Deb Shops for $395 Million, New York Times, July 30, 2007
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