MacDonald lands at Lee Equity Partners

  • Caitlyn MacDonald joins Lee Equity
  • MacDonald left First Reserve in April
  • Lee Equity sold PDR Network to Genstar this month

Caitlyn MacDonald has joined Lee Equity Partners LLC as head of investor relations, a source said.

Calls to MacDonald at the New York private equity firm were sent to her office voicemail.

MacDonald left First Reserve in April, Buyouts reported at the time. She joined First Reserve in 2007 and was a director of marketing and communications at the firm. Prior to First Reserve, MacDonald was an investment manager at SVG Advisers. She also worked at Wellington Management Co in the mutual fund client service and performance measurement groups.

Lee Equity focuses on control buyouts and growth-capital financings. The firm typically invests between $50 million to $150 million equity. It targets investments in sectors such as business services, consumer/retail, distribution/logistics, financial services, healthcare services and media.

Lee Equity was founded in 2006 by Thomas H. Lee after he left Thomas H. Lee Partners.

Lee Equity has been in the process of restructuring its one and only fund. The firm gave LPs the option to sell their interests at a premium to net asset value or to roll into a new vehicle that will house the remaining portfolio companies, Buyouts said in August. Lee Equity Partners I closed on about $1.1 billion around late 2008. The fund produced an 8.49 percent average IRR and a 1.32x average multiple as of June 30, data provider Bison said.

Earlier this month, Lee Equity sold PDR Network, a healthcare information provider, to Genstar Capital.

In October, Lee Equity sold a majority of financial planning firm Edelman Financial Services to Hellman & Friedman LLC. The deal was valued at more than $800 million, the Wall Street Journal said.

In July, General Atlantic invested in Aimbridge Hospitality, a hotel investment and management firm backed by Lee Equity.

Executives for Lee Equity could not be reached for comment.

Action Item: Reach Lee Equity at 212-888-1500

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