Boston-based Thomas H. Lee Partners announced the closure of what it calls an "innovative" secondary transaction as an investor in wealth management firm Hightower.
The transaction, officials said, provides both new and follow-on capital to optimize Hightower’s value creation potential and growth strategy. The transaction will result in no change to the governance of Hightower or to its executive leadership team. Specific terms of the transaction have not been disclosed.
THL will maintain its position as Hightower's lead investor through a new vehicle dedicated to Hightower that includes investments from funds . . .