Thomas H. Lee, a billionaire financier based mostly in New York who served on Warner Music Group‘s board for practically twenty years, was discovered useless 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 reviews that the corporate is “a boutique funding outfit that perfected the early artwork of leveraged buyouts and grew to change into one of many trade’s largest companies by the mid-Nineties after a string of profitable offers highlighted by the takeover of beverage firm Snapple”.

In an announcement issued as we speak (February 24), Robert Kyncl, CEO of Warner Music Group, stated: “We’re deeply saddened by the passing of our buddy and colleague Tom Lee. Tom made useful contributions to WMG’s trajectory for nearly twenty 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 grew to become Director Emeritus.

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

Lee’s household stated in an announcement: “The household is extraordinarily saddened by Tom’s demise. 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 buddy 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 buddies, his household, and his group. Our ideas and prayers are together with his spouse, Ann, and their household.”

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

The New York Put up, 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