Thomas Lee Planning $400M Hedge Fund IPOposted by MR WAVETHEORY at 11/21/2006 08:56:00 AM
"We plan on marketing the fund in the new year and we are quite optimistic," Lee told Bloomberg.
Lee said he had planned to float the fund at the end of this year but "the entire process has taken somewhat longer than we had originally foreseen."
His announcement followed word of the $2 billion hedge fund IPO at Marshall Wace. MW on Nov. 13 became the second fund to list on Euronext in November. Boussard & Gavaudan raised a $520 million multi-strategy offering Nov. 1.
Billionaire Lee became a household name in 1992 with his takeover and subsequent $1.7 billion sale of Snapple Beverage Co.
The 62-year-old Lee in March stepped down from Thomas H. Lee Partners, the Boston-based private equity firm he founded in 1974, to expand Thomas H. Lee Capital Management, his hedge fund company. Blue Star I, the Thomas H. Lee Capital flagship, has returned 22.1% annually. The company has $1.9 billion under management.