TH Lee raising Fund VIII with Todd Abbrecht as first head of PE

  • Abbrecht appointed head of PE in May
  • Previously worked on consumer, healthcare
  • Firm targeting $3 bln for Fund VIII

Thomas H. Lee Partners, which is in market raising its eighth flagship fund, earlier this year created the role of head of private equity, naming Todd Abbrecht to the position.

Abbrecht was appointed to the role in May. It’s not clear why the firm created the role. A spokesperson declined to elaborate.

The Boston buyout shop is raising capital for Thomas H. Lee Equity Fund VIII, targeting $3 billion. It’s a quick return to market, as the firm closed its previous fund about one year ago with $2.6 billion.

Abbrecht has been with TH Lee since 1992. His focus has been consumer and healthcare, according to the firm’s website. He sits on the boards of Party City, PCI Pharma Services and Professional Physical Therapy, among other portfolio companies. Previous board seats include Aramark Corporation, Dunkin’ Brands and Michael Foods.

Before TH Lee, Abbrecht worked in mergers and acquisitions at Credit Suisse First Boston. He has degrees from Harvard Business School and the Wharton School of the University of Pennsylvania.

Abbrecht reports to TH Lee co-presidents Tony DiNovi and Scott Sperling. The firm’s private equity management committee consists of these three plus Tom Hagerty, Soren Oberg and Kent Weldon.

TH Lee targets companies with enterprise values between $250 million and $2.5 billion in the business and financial services, consumer and retail, healthcare, and media and technology sectors. Fund VII has a net IRR of 49 percent and a net MOIC of 1.5x, according to documents from the Minnesota State Board of Investment, citing State Street.

Action Item: Check out TH Lee’s Form ADV here.

Photo of Todd Abbrecht courtesy of Thomas H. Lee Partners