Lightyear Capital

Lightyear Capital is a private equity firm focused on leveraged buyout and growth capital investments in financial services companies.

Lightyear Capital
TypePrivate
IndustryPrivate equity
Founded2002 (2002)
FounderDonald Marron
HeadquartersNew York, New York, United States
Key people
Mark Vassallo (Managing Partner)
ProductsLeveraged buyout, Growth capital
Total assets$5 billion[1]
Number of employees
20+
Websitewww.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]

References
  1. Lightyear Fund II closes on $850m Archived 2008-06-12 at the Wayback Machine. AltAssets, March 6, 2007
  2. Tennille Tracy (March 5, 2007). "Marron Q&A: The Buzz on Lightyear Capital". The Wall Street Journal.
  3. Joseph A. Giannone (November 12, 2008). "Lightyear's Marron eyeing banks, insurers". Reuters.
  4. Pranay Gupte (September 21, 2005). "The Ubiquitous and Indefatigable Donald Marron". The New York Sun.
  5. "UBS to Buy PaineWebber for $10.8 Billion". ABC News. July 12, 2000.
  6. Donald Marron Archived 2009-03-27 at the Wayback Machine. Charlie Rose Interviews
  7. Forty Institutions Back Lightyear's New $850M Fund. Thomson Buyouts, March 19, 2007
  8. Falconer, Kirk (2021-03-18). "Lightyear poised to raise biggest flagship yet, as Fund V nabs $1.27bn". Buyouts. Retrieved 2021-05-16.
  9. Lightyear sells shares in Collegiate Funding Services to JPMorgan Chase Bank Archived 2008-03-07 at the Wayback Machine. AltAssets, December 20, 2005
  10. Insight and Lightyear Merge Circle Software into Realm Business Solutions. November 29, 2006
  11. James Comtois (January 6, 2014). "International deals rise in 2013; activity in U.S. falls". Pensions & Investments.
  12. "Lightyear Capital acquires controlling stake in Lighthouse Technologies". www.spglobal.com. Retrieved 2020-04-14.
  13. "Private equity firms take stakes in accounting firms". Accounting Today. 2021-09-17. Retrieved 2022-06-16.
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