Lightyear Capital
Encyclopedia
Lightyear Capital is a private equity
firm focused on leveraged buyout
and growth capital
investments in financial services
companies.
The firm, which is based in New York City
, was founded in 2002 with the backing of UBS AG
by Donald Marron
. Marron is best known for building up PaineWebber over a 23 year career and completing its sale to UBS AG
in late 2000. Marron was also a founder of Data Resources Inc.
The firm has raised approximately $3 billion since inception across its two 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.
Among the firm's most notable investments are Collegiate Funding Services (acquired by JPMorgan Chase), ARGUS Software, Higher One, NAU Country Insurance Company (the nation's third largest crop insurer), Antares Holdings, New Flyer Industries
, and Goldleaf Financial Solutions .
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
firm focused on leveraged buyout
Leveraged buyout
A leveraged buyout occurs when an investor, typically financial sponsor, acquires a controlling interest in a company's equity and where a significant percentage of the purchase price is financed through leverage...
and growth capital
Growth capital
Growth capital is a type of private equity investment, most often a minority investment, in relatively mature companies that are looking for capital to expand or restructure operations, enter new markets or finance a significant acquisition without a change of control of the business.Companies...
investments in financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
companies.
The firm, which is based in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
, was founded in 2002 with the backing of UBS AG
UBS AG
UBS AG is a Swiss global financial services company headquartered in Basel and Zürich, Switzerland, which provides investment banking, asset management, and wealth management services for private, corporate, and institutional clients worldwide, as well as retail clients in Switzerland...
by Donald Marron
Donald Marron
Donald B. Marron is a financier, private equity investor and entrepreneur, notable as the chairman and chief executive officer of brokerage firm Paine Webber from 1980 through the sale of the company in 2000, as well as the founder of private equity firm Lightyear Capital and of Data Resources...
. Marron is best known for building up PaineWebber over a 23 year career and completing its sale to UBS AG
UBS AG
UBS AG is a Swiss global financial services company headquartered in Basel and Zürich, Switzerland, which provides investment banking, asset management, and wealth management services for private, corporate, and institutional clients worldwide, as well as retail clients in Switzerland...
in late 2000. Marron was also a founder of Data Resources Inc.
Data Resources Inc.
Data Resources Inc or DRI was co-founded in 1969 by Donald Marron and Otto Eckstein.Marron is best known as the former CEO of PaineWebber and founder of Lightyear Capital...
The firm has raised approximately $3 billion since inception across its two 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
UBS AG
UBS AG is a Swiss global financial services company headquartered in Basel and Zürich, Switzerland, which provides investment banking, asset management, and wealth management services for private, corporate, and institutional clients worldwide, as well as retail clients in Switzerland...
. In 2006, the firm completed fundraising for its second private equity fund
Private equity fund
A private equity fund is a collective investment scheme used for making investments in various equity securities according to one of the investment strategies associated with private equity....
, with $850 million of commitments from over 40 investors.
Among the firm's most notable investments are Collegiate Funding Services (acquired by JPMorgan Chase), ARGUS Software, Higher One, NAU Country Insurance Company (the nation's third largest crop insurer), Antares Holdings, New Flyer Industries
New Flyer Industries
New Flyer Industries Inc. is a bus manufacturer in North America, headquartered in Winnipeg, Manitoba, Canada. It also has factories in Crookston and St. Cloud, Minnesota, USA.-History:...
, and Goldleaf Financial Solutions .
External links
- Lightyear Capital (company website)