June 11, 2019
Louis Diamond Quoted
By Lisa Shidler
HighTower Advisors has finished investing the $100 million haul staked by Thomas H. Lee Partners, ending a stealth acquisition binge that saw ownership of its revenues rise from 23% to 80%, paving the way for a possible IPO or sale.
But forcing the action required doling out generous checks.
“I …think HighTower is paying above market multiples to capture these teams since there is no transition risk and there is already a ton of working knowledge of the personalities and the business,” says Louis Diamond, principal of Diamond Consulting.
