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Alternative Market Briefing

Thomas H. Lee amasses $5.6bn for the ninth flagship buyout fund

Tuesday, October 05, 2021

Laxman Pai, Opalesque Asia:

Thomas H. Lee Partners, a private equity firm investing in middle-market growth companies, has closed its latest flagship fund at $5.6 billion, representing a 56% increase in capital over its predecessor.

The buyout fund - Thomas H. Lee Equity Fund IX - focuses on investments in middle-market growth companies in sectors including technology and innovation, a news release said Monday. The press release did not disclose the amount of the fundraising target.

The previous fund, Thomas H. Lee Equity Fund VIII, closed at its hard cap of $3.6 billion in 2018, above its initial fundraising target of $3 billion.

Fund IX received strong demand from investors and over $250 million of General Partner commitments. A global and diverse group of new and existing limited partners have committed capital to Fund IX, including leading public and private pension funds, sovereign wealth funds, banks, insurance companies, endowments, foundations, family offices, and high-net-worth individuals.

Investors in the current fund include Massachusetts Pension Reserves Investment Management Board, Boston; Illinois Teachers' Retirement System, Springfield; and Louisiana Teachers' Retirement System, Baton Rouge.

"The successful fundraise speaks to the strength of our value creation capabilities and domain expertise, which allow us to move with speed and certainty to support our portfolio companies through their next stage of growth," said Todd Abbrecht, ......................

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