Lightyear_Capital

Lightyear Capital

Lightyear Capital

American private equity firm focused on leveraged buyout

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

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