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HighTower gets 'vote of confidence' from PE firm

from Financial Planning

Upending months of speculation that HighTower Advisors would be sold, the Chicago-based RIA aggregator is now armed with a cool $100 million to spur growth. The aggregator and platform provider, which has attracted intense industry attention since its founding 10 years ago, announced that private equity firm Thomas H. Lee Partners will acquire "a significant stake" in the firm and also will invest an additional $100 million of new equity capital. Some existing institutional investors will also sell their equity interest, the company said. more

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