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November 26, 2015 11:07 PM ET

Capital Markets

Company Overview of Lightyear Capital LLC

Company Overview

Lightyear Capital LLC is a private equity firm specializing in middle market, growth capital, recapitalizations, and leveraged buyout investments. The firm focuses on companies in the financial services including asset management, banking, brokerage, financial technology, insurance, specialty finance, leasing, and related business services. The firm typically invests in North America. It invests between $25 million and $100 million in companies with enterprise values under $500 million, but can invest larger amounts. It seeks to make controlling investments. Lightyear Capital LLC was founded in 2000 and is based in New York, New York with additional office in New York, New York.

9 West 57th Street

New York, NY 10019

United States

Founded in 2000





Key Executives for Lightyear Capital LLC

Founder, Chief Executive Officer, Chairman, and Member of Investment Committee
Age: 78
Managing Partner and Member of Investment Committee
Chief Financial Officer and Managing Director
Managing Director, General Counsel, and Chief Administrative Officer
Managing Director and Member of the Investment Committee
Age: 57
Compensation as of Fiscal Year 2015.

Lightyear Capital LLC Key Developments

Lightyear Looking To Sell Its Stake In Clarion Partners

Lightyear Capital LLC is looking to sell its majority stake in real estate investment manager Clarion Partners LLC for around $800 million, people familiar with the sales said this week. Clarion's current management plans to retain its minority interest in the company after a sale, according to the people, who spoke on condition of anonymity because they were not authorized to speak about the sale. Lightyear’s stake in Clarion has attracted interest from Legg Mason Inc. (NYSE:LM). Representatives for Clarion, Lightyear and Legg Mason declined to comment.

Wealth Enhancement Plans Acquisitions

Lightyear Capital LLC has acquired a majority equity stake in Wealth Enhancement Group, LLC. Wealth Enhancement Group will be a platform for further acquisitions. Mark Vassallo, Managing Partner of Lightyear Capital, commented, "We are pleased to have completed our acquisition of a majority equity stake in Wealth Enhancement Group. Registered Investment Advisors are a rapidly growing segment of the wealth management sector, and Wealth Enhancement Group is a strong platform for growth both through its own investment advisors and possible acquisitions. We are excited to work with Jeff and his team as they further grow the business." Jeff Dekko, Chief Executive Officer of Wealth Enhancement said: "Lightyear Capital is an ideal investor for our firm as we continue the next phase of our development. Lightyear has strong relationships and strategic insights that will help us identify and acquire independent financial advisory firms that share our commitment to client-service, understand our values, and can benefit from our expertise and capabilities as they look to grow."

Interstate National Reportedly Mulls Sale To Lightyear

Interstate National Corporation, a Golden Gate Capital portfolio company, is in discussions to sell itself for at least $200 million to Lightyear Capital LLC, according to people familiar with the discussions. Negotiations are still ongoing between Golden Gate and Lightyear and the deal may still fall apart, the people said, asking not to be named because they were not authorized to speak on the record. One hurdle in the lengthy auction process has been legal proceedings related to "robocalls," the people said, without giving details. Royal Bank of Canada has been working on the sale of Interstate National. The auction attracted other private equity bidders including Corsair Capital LLC and ABRY Partners, LLC, the people said. Representatives for RBC, Golden Gate and Corsair declined to comment, reported Reuters. Representatives for Interstate National, and ABRY did not immediately respond to a request for comment, reported Reuters.

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