Thomas H. Lee Breaks Up Firm, Sells Off Self

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We know far too many people who have jumped to hedge funds from IB thinking it would consist of better hours, more pay and less work. But then most of those people secretly hate finance and won't be working in the industry anymore by the time they're 40.
Other people move into hedge funds because they made a $508 million investment in Refco and they're suffering from the hangover. (Best to get out while the getting's mediocre.)
Thus Thomas H. Lee's departure from his eponymous firm. Or maybe he secretly hates finance. We can't tell.
Thomas H. Lee Steps Down From His Namesake Firm [NYT]


Jimmy Lee: Credit Markets are "Wide Open"

Jimmy Lee, JPMorgan’s legendary dealmaker, just finished up CNBC’s new show, Strategy Session. Not only did he say the credit markets “are wide open,” but up to $10 billion in debt is now available for an LBO, provided it sits on top of about $5 billion in equity and is, of course, the right kind of company.