Lightyear Capital and Ontario Teachers' Acquire Lendmark Financial Services from Blackstone

Lightyear Capital and Ontario Teachers' Acquire Allworth Financial from Parthenon Capital

October 20, 2020

Financial Services

Investment funds affiliated with Lightyear Capital and the Ontario Teachers' Pension Plan agreed to acquire wealth management firm Allworth Financial from Parthenon Capital. Allworth's senior management will remain significant shareholders; the investment will support continued national expansion through add-on acquisitions and multi-channel marketing. Financial terms were not disclosed and the deal was expected to close in Q4 2020.

Lightyear Capital Acquires Prime Pensions from Mill Point Capital

February 26, 2024

Financial Services

Lightyear Capital has made a strategic investment to acquire Prime Pensions, a Florham Park, New Jersey–headquartered third-party administrator of retirement plans, from Mill Point Capital. Prime Pensions serves over 11,000 clients, employs more than 225 people across seven locations, and Lightyear says it will partner with management to accelerate growth and expand capabilities.

Lightyear Capital Acquires Engage PEO

May 1, 2019

Professional Services

Lightyear Capital LLC, a New York-based private equity firm focused on financial services, agreed to acquire Engage PEO, a Fort Lauderdale-based professional employer organization that provides HR outsourcing to small and mid-sized businesses. The management team will remain in place and the transaction was expected to close in Q2 2019; financial terms were not disclosed.

Lightyear Capital Acquires Wren Sterling

December 27, 2021

Financial Services

Lightyear Capital LLC agreed to acquire a majority stake in UK financial planning firm Wren Sterling from Palatine Private Equity and other shareholders, with Wren Sterling's management remaining significant shareholders. The deal, completed after FCA approval, gives Wren Sterling access to capital to pursue organic growth and selective acquisitions while continuing to expand its UK advice network.

Lightyear Capital Invests in Schellman & Company

September 17, 2021

Cybersecurity

Lightyear Capital's affiliated funds agreed to acquire assets from and partner with Schellman & Company, LLC, forming a new structure that separates attest services (Schellman) from non-attest services (Schellman Compliance, LLC). The transaction recapitalizes majority ownership interests of founder Chris Schellman (allowing his early exit) and positions the company for accelerated organic and M&A-driven growth under CEO Avani Desai. Financial terms were not disclosed.

Reverence Capital Partners Acquires Advisor Group from Lightyear Capital and PSP Investments

September 5, 2019

Financial Services

Reverence Capital Partners agreed to buy Advisor Group, Inc. from Lightyear Capital and the Public Sector Pension Investment Board (PSP Investments) in a deal announced May 2019 and expected to close in Q3 2019. Lightyear and PSP will retain minority stakes and Advisor Group’s existing management (Jamie Price as CEO) will remain in place as the firm continues to grow its network of financial advisors and assets under administration.