Private equity firm Thomas H. Lee Partners has acquired a stake in Chicago-based registered investment advisory firm HighTower Advisors.
In connection with this transaction, certain existing institutional investors will sell their equity interests in HighTower. To accelerate HighTower’s next phase of growth, THL will also commit to invest an additional $100 million of new equity capital after the closing, subject to certain approvals.
HighTower will leverage THL’s deep industry experience and operating and business development capabilities to enhance its platform and build on its strong momentum. The partnership is strengthened by the two firms’ cultural alignment and THL’s support for HighTower’s vision of delivering independent, objective financial advice to its clients.
The deal is expected to close during the fourth quarter 2017 or first quarter 2018.
HighTower, founded in 2007, provides investment management services to high-net-worth individuals, corporations, endowments and foundations, institutions, retirement accounts, pension and Taft-Hartley plans, profit sharing plans, trusts, estates, and charitable organizations.
