Putnam Investment is preparing to launch a series of alternative investment vehicles for institutiona...
A Boston-based money-management company with $380bn under management, Putnam will hold a 25% stake in the partnership, with Lee holding the rest.
The new company, TH Lee Putnam Capital, will provide funds that will be offered both to Lee's limited partners and, through Putnam, to institutional investors and financial advisors of high net worth clients.
Its first sortie was an internet fund called TH Lee Putnam Internet Partners, but more are expected to follow.
In a joint statement Thomas Lee, who founded Lee, and Lawrence Lasser, president and CEO at Putnam, said: "Sophisticated investors, whether institutional or high net worth investors, want access to a range of private capital options from hedge funds to venture capital to European private equity. This new partnership gives it to them under one roof.
"Lee and Putnam will jointly build and manage the company, which will offer a broad range of alternative investment funds."
Thomas Lee is CEO and chairman of the new venture while Scott Sperling has taken the role of president of the partnership.
100 new clients
Achievements, charity work and other happy snippets
Square Mile’s series of informal interviews
Partner Insight: The rise in demand for DFM and multi manager solutions has been largely driven by new mandates from the regulator, says James Bampton, head of UK intermediary distribution at Architas