Putnam venture offers alternative fund range

Putnam Investment is preparing to launch a series of alternative investment vehicles for institutional investors and high net worth individuals through a partnership formed with private equity company Thomas H Lee. 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 ...