Bloomberg News

Thomas H. Lee’s Schoen Leaves Buyout Firm After 26 Years

May 25, 2012

Scott Schoen, who helped lead private-equity firm Thomas H. Lee Partners LP from 2003 to 2009 as co-president and has since served as vice chairman, stepped down from the firm earlier this month.

Schoen, who joined Boston-based Thomas H. Lee in 1986, will remain an adviser to the firm and a board member of portfolio companies Acosta Inc. and Nielsen Holdings NV (NLSN:US), the firm said in a statement today. The 53-year-old, along with co-Presidents Anthony DiNovi and Scott Sperling, took over top management of the firm when its billionaire founder, Thomas Lee, stepped down in 2006.

“I am proud of the franchise we have built, and I am confident that the firm will realize even greater success in the future,” Schoen said in the statement.

In a 2009 talk at the Massachusetts Institute of Technology in Cambridge, Massachusetts, Schoen said the private-equity industry was entering an era in which debt would be harder to obtain and returns would be lower than they were during the booms of the 1980s and the middle of last decade. Buyout firms use debt when they purchase companies as a means of amplifying the returns on their cash.

“We’re in a brave new world,” Schoen said in his talk. “We can’t go back to where we were, at least not in this investment cycle and probably not in my career.”

Schoen began his career at Goldman Sachs Group Inc. (GS:US) and received a master’s in business administration and a law degree from Harvard University.

To contact the reporter on this story: Devin Banerjee in New York at dbanerjee2@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net


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Companies Mentioned

  • NLSN
    (Nielsen NV)
    • $48.87 USD
    • 0.76
    • 1.56%
  • GS
    (Goldman Sachs Group Inc/The)
    • $174.03 USD
    • 0.07
    • 0.04%
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