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

Lightyear Capital, a New York-based middle market private equity firm, has announced the final close of Lightyear Fund VI, L.P. at its hard cap of approximately $2.5 billion in capital commitments on April 14, 2026. The Fund was significantly oversubscribed, surpassing its initial target of $1.75 billion by 43% and coming in 60% larger than the $1.6 billion raised in its predecessor, Lightyear Fund V — marking the firm’s largest fundraise to date.

Fund VI represents the most diversified investor base in Lightyear’s history, with commitments from over 65 global institutions spanning pension funds, insurance companies, sovereign wealth funds, endowments and foundations, and family offices. The breadth and quality of the investor base reflects strong conviction in Lightyear’s long-standing approach to value creation across multiple market cycles.

Since its founding in 2000, Lightyear has built a focused investment platform at the nexus of financial services and technology, healthcare, and business services. Over its 25-year history, the firm has made 60 platform investments and more than 300 add-on acquisitions, with significant activity in wealth management, embedded payments, healthcare financial services, and technology-enabled business services. This thematic, sector-focused approach has created a repeatable model for sourcing, diligence, and value creation that the firm believes compounds over time.

Managing Partner Mark Vassallo credited the result to the firm’s track record and team continuity: “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.” Partner Michal Petrzela added that two and a half decades of sector focus has built the pattern recognition needed to identify strong companies and support their growth — with the ultimate goal of delivering strong returns for investors and meaningful outcomes for portfolio companies.

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

About Lightyear Capital

Lightyear Capital is a New York-based middle market private equity firm focused on investing in growing companies at the nexus of financial services and technology, healthcare, and business services. Founded in 2000, the firm has made over 60 platform investments and 300+ add-on acquisitions across its investment funds, with deep expertise in wealth management, embedded payments, healthcare financial services, and technology-enabled business services. Lightyear manages approximately $2.5 billion in its latest fund and has a long-term thematic investment approach built on over 25 years of sector focus and institutional knowledge.