Lightyear Capital
American private equity firm focused on leveraged buyout From Wikipedia, the free encyclopedia
Lightyear Capital is a private equity firm focused on leveraged buyout and growth capital investments in financial services companies.
 | |
| Company type | Private |
|---|---|
| Industry | Private equity |
| Founded | 2002 |
| Founder | Donald Marron |
| Headquarters | New York, New York, United States |
Key people | Mark Vassallo (Managing Partner) |
| Products | Leveraged buyout, Growth capital |
| Total assets | $5 billion[1] |
Number of employees | 20+ |
| Website | www.lycap.com |
The firm, which is based in New York City, was founded in 2002 with the backing of UBS AG by Donald Marron.[2] Marron is best known for building up PaineWebber over a 23-year career and completing its sale to UBS AG in late 2000 for $10.8 Billion.[3][4][5] Marron was also a founder of Data Resources Inc.[6]
The firm has raised approximately $3 billion since inception across its five funds. In May 2002, Lightyear closed on its first fund, The Lightyear Fund, with $750 million of investor commitments, approximately $500 million of which came from UBS AG. In 2006, the firm completed fundraising for its second private equity fund, with $850 million of commitments from over 40 investors.[1][7] In March 2021, the firm filed documents stating that it had raised over $1.27 billion with 24 investors for its fifth fund, Lightyear Capital V.[8]
Among the firm's most notable investments are Collegiate Funding Services (acquired by JPMorgan Chase),[9] ARGUS Software,[10] Higher One, NAU Country Insurance Company (the nation's third-largest crop insurer), Antares Holdings, New Flyer Industries, and Goldleaf Financial Solutions.
In 2013, Atlanta, divested its RidgeWorth Investments to Lightyear Capital LLC for up to $265 million.[11]
In May 2019, Lightyear Capital acquired a controlling stake in Lighthouse Technologies Holdings Corporation.[12]
In September 2021, Lightyear Capital acquired assets and partnered with Schellman & Company, LLC for the delivery of Information Technology and cybersecurity compliance services.[13]
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External links
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