LPs

Longtime fundraiser Beverly Berman to leave TH Lee

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Thomas H. Lee Partners, Beverly Berman, private equity
Scott Sperling, co-president of Thomas H. Lee Partners, speaks at the Reuters Private Equity and Hedge Funds Summit in New York, March 2, 2010. REUTERS/Brendan McDermid - RTR2B53B
  • Berman has worked at TH Lee for about 10 years
  • Previously was at Advent International
  • Griffith assumes many of Berman’s responsibilities

Beverly Berman, a longtime investor-relations professional, is retiring from Thomas H. Lee Partners in the coming weeks, a person with knowledge of the situation said.

Managing Director Greg White will remain head of IR at THL, while Principal Tyler Griffith, who joined the firm in 2010 and has worked on the IR team for several years, will take over many of Berman’s responsibilities, the person said.

Whether Berman is moving to another firm or retiring from the industry is unclear. She did not respond to a connection request over LinkedIn.

Berman, a managing director, joined THL in 2008, prior to which she was a partner at Advent International in LP services and fund marketing activities in North America, her biography on THL’s website shows.

She also was a director in Credit Suisse’s former Private Fund Investment Group and a portfolio manager in alternative investments for Public Employees’ Retirement Association of Colorado.

TH Lee is in market with its eighth fund, targeting $3 billion. It hit the market last year in a quick turnaround from Fund VII, which closed on $2.6 billion in 2016.

The firm, formed by Thomas Lee in 1974, is raising the new pool with Todd Abbrecht in the new position of head of private equity, Buyouts reported.

Abbrecht, who has worked at TH Lee since 1992, was named to the role last year.

For Fund VIII, TH Lee is offering LPs the choice of either deal by deal or European-style carried-interest distribution, Buyouts reported.

Action Item: Check out TH Lee’s Form ADV here: https://bit.ly/2MgY7zP