Lightyear Capital LLC (collectively with any affiliates, as the context requires, “Lightyear”), a
Delaware limited liability company founded in 2000, is a registered investment adviser located in
New York, NY. Lightyear and its subsidiaries, Lightyear Capital II, LLC, Lightyear Capital III, LLC,
Lightyear Capital IV, LLC, Lightyear Capital V, LLC, and Lightyear Capital VI, LLC (each, an
“Affiliated Adviser” or, collectively, the “Affiliated Advisers”), provide investment advisory
services to several private equity funds (each a “Fund” or, collectively, the “Funds”). The Funds
invest primarily in high-growth, “asset-light” companies at the nexus of financial services and
technology, healthcare, and business services.
The Funds are typically structured as limited partnerships and each has a general partner (or similar
persons or entities, each, a “General Partner” or, collectively, the “General Partners”). Each
General Partner is an affiliate of Lightyear Capital LLC.
Investment advice is provided directly to the Funds and not individually to the persons and entities
that invest in the Funds (each, a “Limited Partner” and, collectively, the “Limited Partners”; and
referred to collectively with the General Partners as “Partners”). In providing services to the Funds,
Lightyear formulates each Fund’s investment objectives, directs, and manages the investment and
reinvestment of each Fund’s assets, and provides
reports to the Limited Partners. Lightyear provides
investment advisory services to each of the Funds pursuant to separate advisory or management
agreements and manages the assets of the Funds in accordance with the limited partnership
agreements, investment advisory agreements, private placement memoranda, and other governing
documents applicable to each Fund (the “Governing Fund Documents”). The investment guidelines
of each Fund are described in the applicable Governing Fund Documents.
Limited partnership interests in the Funds are not registered under the Securities Act of 1933, as
amended (the “Securities Act”), and the Funds are not registered under the Investment Company Act
of 1940, as amended. Accordingly, interests in the Funds are privately offered and sold exclusively
to Limited Partners satisfying the applicable eligibility and suitability requirements for private
transactions within the U.S.
Lightyear Capital LLC is wholly owned by Lightyear Capital Management LP, the general partner of
which is Lightyear Capital GP LLC. Both Lightyear Capital Management LP and Lightyear Capital
GP LLC are wholly owned by Mark Vassallo and his estate planning vehicle. Mark Vassallo is also
the manager of Lightyear Capital GP LLC and the Managing Partner of Lightyear Capital LLC. As
of December 31, 2023, Lightyear managed approximately $5.02 billion in regulatory assets under
management on a discretionary basis.