Private-equity firm Thomas H. Lee Partners is pitching its ninth flagship fund to institutional investors after corralling $900 million for a fund focused on investing in automation.
The midmarket growth firm is seeking $4.25 billion for its Thomas H. Lee Equity Fund IX LP, according to a presentation document prepared for the Teachers’ Retirement System of Louisiana. The $22.8 billion pension system’s trustees met on Thursday and approved a commitment of as much as $100 million to the buyout fund.
Recently Thomas H. Lee Partners announced the final close of THL Automation Fund. L.P. at $900 million. The Fund will back automation companies, including technology product, software and services businesses, that enhance productivity across a range of end markets and use cases.
That fund will pursue equity investment opportunities that harness a range of technologies – from software and artificial intelligence to robotics and additive manufacturing to systems design and integration – driving automation in e-Commerce, distribution and logistics, manufacturing, healthcare, agriculture, food and beverage, financial services, real estate, consumer products and other sectors.
THL has substantial experience investing in automation. Since 2017, the firm’s affiliated funds and co-investors have deployed approximately $2 billion of equity in four platform companies and eight add-on transactions in the sector. THL’s current automation platform companies include Autostore, Material Handling Systems, Fortna and Phytech.
Thomas H. Lee Partners, L.P. is a premier private equity firm investing in middle market growth companies, headquartered primarily in North America, exclusively in three sectors: Financial Services, Healthcare and Technology & Business Solutions. Since 1974, they have raised more than $25 billion of equity capital, invested in over 150 companies and completed more than 400 add-on acquisitions representing an aggregate enterprise value at acquisition of over $200 billion.
Source: Wall Street Journal and Business Wire