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Lightyear Capital beats target to close fifth flagship fund on $1.6bn

22

Specialist investor Lightyear Capital has beaten its $1.25bn target to haul in $1.6bn for its latest flagship fund. The vehicle is 25% bigger than its predecessor fund.

Fund V is the first fund the firm has raised that surpasses the $1bn mark. The firm said one third of the capital came from new investors.

Mark Vassallo, Lightyear’s managing partner, said, “We are very pleased with this outcome and want to thank not only our existing investors for their continued strong support but also all our new investors who are entrusting Lightyear with their assets.

“Our talented team, investment culture and process, and successful track record made this achievement possible.”

Lightyear raised $957m for Lightyear Fund IV in 2017, but also collected $28.5m from general partners and a related co-investment vehicle.

The firm rounded up $954m for Fund III in 2012.

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