Lightyear Capital Closes Fund VI At Hard Cap with $2.5 Billion in Commitments

Fund VI Significantly Oversubscribed, Exceeding Initial Target by 43%

NEW YORK--(BUSINESS WIRE)--Lightyear Capital (“Lightyear”), a middle market private equity firm, today announced the final close of Lightyear Fund VI, L.P. at its hard cap of approximately $2.5 billion in capital commitments. Fund VI was significantly oversubscribed, surpassing its initial target of $1.75 billion and is 60% larger than the $1.6 billion raised in Lightyear Fund V, L.P.

Fund VI represents the largest and most diversified investor base in Lightyear’s history, including commitments from over 65 global institutions, including pension funds, insurance companies, sovereign wealth funds, endowments and foundations, and family offices. Fund VI builds on the firm’s over 25-year history of partnering with growing companies at the nexus of financial services and technology, healthcare, and business services.

“We are grateful for the overwhelming support from both existing and new limited partners who have placed their confidence and trust in us,” stated Mark Vassallo, Managing Partner of Lightyear. “This successful fundraise reflects our history of delivering strong returns for investors across multiple market cycles. Lightyear’s deep domain expertise and repeatable model for value creation combined with a talented team of professionals who have worked together for a long time distinguishes us in the middle market. I want to thank the management teams at our portfolio companies for their commitment to excellence as well as the entire Lightyear team who are integral to our success.”

Lightyear takes a long-term thematic approach to investing and reviews hundreds of investment opportunities annually. Since inception in 2000, Lightyear's investment funds have made 60 platform investments and 300+ add-on acquisitions with significant investments in the categories of wealth management, embedded payments, healthcare financial services and technology-enabled business services. This approach has created repeatable deal flow that we believe leads to a compounding advantage in sourcing, diligence, value creation and exit.

Michal Petrzela, Partner of Lightyear Capital, added, “We appreciate the strong support of our longstanding investors and welcome our new limited partners to Lightyear Fund VI. Twenty-five years of sector focus has given us the pattern recognition to find strong companies and help them grow. Our goal is to deliver strong returns for our investors and meaningful outcomes for our portfolio companies.”

Davis Polk & Wardwell LLP acted as legal counsel to Fund VI and Atlantic-Pacific Capital Inc. acted as global placement agent.

ABOUT LIGHTYEAR CAPITAL

Lightyear Capital is a New York-based private equity firm that partners with growing companies at the nexus of financial services and technology, health care and business services. For over 25 years, Lightyear has worked closely with management and leveraged its industry expertise, network of advisors and operating resources to accelerate growth and build market-leading businesses. As of December 31, 2025, the firm had assets under management of US$8.1 billion. For more information, please visit www.lycap.com.