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Ropes & Gray Advises Thomas H. Lee Partners on Secondary Transaction with Hightower

Practices: Asset Management, Private Funds, Secondary Transactions, Sponsor Representation

Thomas H. Lee Partners, L.P. (“THL”) and Hightower announced on Dec. 3 that THL closed an innovative secondary transaction, maintaining its position as Hightower’s lead investor through a new vehicle dedicated to Hightower that includes investments from funds advised by Goldman Sachs Asset Management, Neuberger Berman and Coller Capital. Ropes & Gray advised THL on the formation of the new vehicle and the structure of the transaction. Specific terms of the transaction have not been disclosed.

Thomas H. Lee Partners, L.P. (“THL”) is a premier private equity firm investing in middle market growth companies, headquartered primarily in North America, exclusively in three sectors: Financial Services, Healthcare and Technology & Business Solutions.

Hightower is a wealth management firm that provides investment, financial and retirement planning services to individuals, foundations and family offices, as well as 401(k) consulting and cash management services to corporations.

The Ropes & Gray team advising THL on the new vehicle and the structure of the transaction was led by asset management partners Peter Laybourn and John Ayer, and included tax partner Elaine Murphy, asset management associates Lindsay Rutishauser and Naveed Ghasem, and tax associates Dan Zuckerman and Zhen Zhang.

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