Thomas H. Lee, a US billionaire investor who helped pioneer the debt-fueled company purchase known as a leveraged buyout, has died.
Thomas H Lee’s family issued a statement saying they were “very devastated” by the 78-year-death. old’s
According to the New York Post, he died at his Manhattan office from a self-inflicted gunshot wound.
He was discovered dead at 767 Fifth Avenue on Thursday morning.
The address is where Thomas H Lee Capital LLC’s offices are listed.
Mr Lee was worth $2 billion (£1.6 billion) at the time of his death, according to Forbes.
In a statement, police said they had responded to a 911 call shortly after 11:00 (16:00 GMT) on Thursday morning from an office on Fifth Avenue.
“Upon arrival EMS [Emergency Medical Services] responded and pronounced the male deceased at the scene,” they said.
“Although the world knew him as one of the pioneers in the private equity profession and a great businessman, we knew him as a dedicated husband, father, grandpa, sibling, friend, and philanthropist who always placed others’ needs before his own,” said family friend and spokesman Michael Sitrick.
Along with being a pioneer of the leveraged buyout, Lee was also noted for acquiring beverage business Snapple in 1992 and selling it two years later to Quaker Oats for $1.7 billion – 32 times what he paid.
Lee was also known for his philanthropy, having served on the boards of important New York City art institutions such as the Lincoln Center for the Performing Arts and the Museum of Modern Art.
In 1996, he donated $22m to his alma mater Harvard University, part of which has been used to provide financial aid for students.
“I’ve been lucky to make some money. I’m more than happy to give some of it back,” he said at the time.
He is survived by his wife, Ann Tenenbaum, and his five children.