Thomas H. Lee, a billionaire financier based mostly in New York who served on Warner Music Group‘s board for practically 20 years, was discovered lifeless yesterday in Manhattan aged 78.

Lee stepped down as a board director at WMG in 2021 following 17 years of service, however subsequently continued his affiliation with the music firm as Director Emeritus.

The entrepreneur and personal fairness pioneer had a protracted and vital historical past with Warner Music: In 2004, he led the investor group that bought the corporate from Time Warner.

Lee established his personal agency, Thomas H Lee Companions, in 1974.

The Monetary Occasions experiences that the corporate is “a boutique funding outfit that perfected the early artwork of leveraged buyouts and grew to turn out to be one of many trade’s largest corporations by the mid-Nineteen Nineties after a string of profitable offers highlighted by the takeover of beverage firm Snapple”.

In an announcement issued right this moment (February 24), Robert Kyncl, CEO of Warner Music Group, stated: “We’re deeply saddened by the passing of our pal and colleague Tom Lee. Tom made priceless contributions to WMG’s trajectory for nearly 20 years. He was a part of the unique investor group that acquired WMG from Time Warner in 2004, and he served as a director of our firm from 2004 till 2021, when he turned Director Emeritus.

“Tom’s expertise, knowledge, and enthusiastic assist helped information WMG by means of intervals of main transformation, each inside our firm and within the music trade at massive. Our condolences exit to his household and lots of associates.”

Lee’s household stated in an announcement: “The household is extraordinarily saddened by Tom’s loss of life. Our hearts are damaged. We ask that our privateness be revered and that we be allowed to grieve.”

The corporate Lee based, Thomas H. Lee Companions (THL), stated in an announcement: “We’re profoundly saddened by the surprising passing of our good pal and former companion, Thomas H. Lee. Tom was an iconic determine in non-public fairness.

“He helped pioneer an trade and mentored generations of younger professionals who adopted in his footsteps. Extra importantly, he was a beneficiant and gracious particular person who cared deeply about his associates, his household, and his neighborhood. Our ideas and prayers are together with his spouse, Ann, and their household.”

Lee was discovered lifeless yesterday (February 23) morning on the listed places of work of Thomas H. Lee Capital LLC, 767 Fifth Avenue, New York.

The New York Submit, citing police sources, and Bloomberg, citing an individual accustomed to the matter, report that Lee died from a self-inflicted gunshot wound.Music Enterprise Worldwide