People

PE pioneer and Lee Equity and THL founder Thomas H. Lee passes away

Prior to starting Lee Equity Partners in 2006, Lee founded Thomas H. Lee Partners in 1974.

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  • Since 1974, Lee was “responsible for investing over $15 billion of capital in hundreds of transactions”
  • Lee was a Harvard College graduate
  • Among the NYC organizations and institutions he supported were NYU Langone Medical Center and Lincoln Center for the Performing Arts

Thomas H. Lee, founder and chairman of Lee Equity Partners, has passed away, according to a letter the private equity firm sent to its limited partners. Citing various news reports, Lee was 78.

Lee was a pioneer and giant in the private equity and leveraged buyout world. Prior to starting Lee Equity Partners in 2006, he founded the eponymous Thomas H. Lee Partners in 1974 and since then, was “responsible for investing over $15 billion of capital in hundreds of transactions.”

A graduate of Harvard College, Lee was a prominent philanthropist and lover of New York City, noted the letter. Among the organizations and institutitions he supported were NYU Langone Medical Center, Lincoln Center for the Performing Arts (where he served as a trustee), The Museum of Modern Art and the Whitney Museum of American Art.

“The family is extremely saddened by Tom’s death,” said a statement by family friend and spokesperson, Michael Sitrick. “While the world knew him as one of the pioneers in the private equity business and a successful businessman, we knew him as a devoted husband, father, grandfather, sibling, friend and philanthropist who always put others’ needs before his own.  Our hearts are broken.  We ask that our privacy be respected and that we be allowed to grieve.”