Saturday, 18 April 2015
Last updated 9 hours ago
Mar 9 2007 | 2:08pm ET
Private equity firm Lightyear Capital has completed the final close of its second private equity fund with over $850 million in capital commitments, surpassing its target of $800 million.
Lightyear Fund II, L.P., like to its predecessor fund, will seek control buyout investments in financial services companies of all types, including asset management, banking, brokerage, financial technology, insurance, leasing, and related business services and other sectors within the financial services industry. It will have an investment period of five years.
To date, Fund II has made two investments: one in Flagstone Reinsurance Holding Company, a Bermuda-based reinsurance company focused on property catastrophe and other short-tail casualty coverage, and another in Delos Insurance Group, a Delaware-domiciled primary underwriter of program specialty insurance.
“We believe that the broad interest in Lightyear stems, in part, from our strategy of targeting attractive investment opportunities in specialty growth areas within financial services,” stated Mark Vassallo, a managing director at Lightyear. “Fund II is already approximately 20% invested, and we are actively evaluating multiple investment opportunities consistent with our strategy.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…