The headline is taken from the phrase we used to throw around while playing poker when a new card raised the chance of a new power hand. The unveiling of Lee Equity Partners LLC, already complete with interim equity financing and ready to begin making deals in the $100 million to $500 million range, is like watching a possible flush developing.
Lee also announced seven new executives he’s recruited to ride along with his new hand.
Among those joining Lee Equity are Mark Gormley, formerly of Capital Z Partners, David Morrison, formerly of Mercer Management Consulting, Allen Questrom, former chief executive of J.C. Penney Co. and three former executives from Bain Capital.
Thomas H. Lee forms new venture: Lee Equity Partners [MarketWatch]
Earlier on DealBreaker: Thomas H. Lee Breaks Up Firm, Sells Off Self