Lightyear Closes Second Private Equity Fund

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.”

 


In Depth

Q&A: Neil Azous Talks Global Macro Investing

Nov 24 2014 | 12:41pm ET

Neil Azous is the founder and managing member of Rareview Macro, an advisory firm...

Lifestyle

Griffin Selling Chicago Apartment

Nov 26 2014 | 11:40am ET

Citadel Investment Group’s Kenneth Griffin is making clear to his estranged wife...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.