On October 25, 2017, HighTower announced that Thomas H. Lee Partners agreed to acquire a significant stake in HighTower.
Pursuant to a recapitalization agreement, Thomas H. Lee Partners L.P. (“THL”) will purchase an equity stake in HighTower Advisors LLC (“HighTower”) and commit $100 million of new equity capital. The transaction is expected to close by the end of the first quarter of 2018, subject to customary regulatory approvals and closing conditions.
THL is a Boston-based private equity firm specializing in middle market growth investing. Since 1974, THL has acquired over 140 portfolio companies with over $22 billion of equity capital.
HighTower is a Chicago-based Registered Investment Advisor, serving high-net-worth and institutional clients. HighTower has approximately $50 billion in client assets.
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