Term Sheet

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Exclusive: Thomas H. Lee Partners loses two senior investors

May 16, 2013: 10:46 AM ET

thl_partners_logoChuck Brizius and Scott Jaeckel leave Boston buyout firm.

FORTUNE -- Private equity firm Thomas H. Lee Partners has lost long-time managing directors Chuck Brizius and Scott Jaeckel, Fortune has learned.

Brizius originally joined the Boston-based firm back in 1993, and most recently helped lead its information services and media industry team. He had been serving on the boards of Clear Channel, Atrium Underwriters and Agencyport Software.

Jaeckel came aboard one year later, and helped lead THL's business and financial services industry team. Last month he left the boards of portfolio companies MoneyGram International, Sterling Savings Bank and Ceridian.

Both Brizius and Jaeckel had previously served together on the Warner Music Group board.

No formal word yet from THL on the departures, although both men have been removed from its website (although their bios can still be found here and here). The firm is expected to begin raising its seventh fund later this year, with a much lower target than the $10 billion it raised back in 2007. So perhaps this is a case of too many mouths to feed with fewer fees. Or, on the other hand, Brizius and Jaeckel may not have wanted to commit a third decade to the same job. Hopefully we'll have more info soon...

Update: THL has sent over the following statement: "Chuck Brizius and Scott Jaeckel notified us in November that they would be leaving the firm at the end of April.  Since that time, we have worked with them to ensure a smooth transition.  We truly appreciate their years of service and dedication to the firm and all of the partners at THL wish them well in their future endeavors."

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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