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We are delighted to share some of Lightyear's key highlights from 2024...

We continued our 24 year track record of partnering with growing companies at the nexus of financial services and technology, healthcare, and business services. We had many accomplishments over the past year and are thrilled to share them!



2024 Highlights

at a Glance

1

INVESTMENT EXITED

2

NEW PLATFORM

INVESTMENTS COMPLETED

3

DIVIDEND RECAPITALIZATIONS

21

C-LEVEL

EXECUTIVES HIRED

86

ADD-ON ACQUISITIONS

COMPLETED

11

CXO FORUMS HELD

6

LIGHTYEAR PROMOTIONS

3

NEW LIGHTYEAR TEAM MEMBERS


Fund VI

LAUNCHED



New Investments

Fund: Fund V


Sector: Healthcare Financial Services


Investment Date: August 2024


Provider of personalized workforce mental health solutions, delivered primarily through employee assistance programs (EAP)

Fund: Fund V


Sector: Retirement


Investment Date: February 2024


Provider of third-party administration and compliance services for retirement plans serving small-to-medium size businesses

Completed Realizations

Fund IV Exit

Fund V Dividends

Our firm continued to focus on team and culture in 2024.

We proudly promoted six team members, added two Associates to our investment team as well as added an Executive Assistant and an Operating Partner. Additionally, our Culture Working Group organized several events to give back to the community, which are discussed below.

6 PROMOTIONS:

3 NEW LIGHTYEAR TEAM MEMBERS:

OPERATING PARTNER ADDITION

In 2024 we announced the appointment of Gavin Poole as an Operating Partner. Among other roles, Gavin was Chief Financial Officer of Therapy Brands, a former Fund IV portfolio company. Gavin also spent 15 years at Henry Schein serving in various financial leadership positions including several global portfolio CFO roles. In addition to being an Operating Partner, Gavin currently serves as the Chief Financial Officer at PracticeTek, a Fund V portfolio company. 

Wealth & Asset Management Advisory Committee Offsite

In 2024, we hosted our second Wealth & Asset Management Advisory Committee Offsite. Attendees included Advisory Committee members, Operating Partners, portfolio company CEOs, and members of the Lightyear team. The group discussed both existing and evolving themes and opportunities in the space as well as the effects technology, such as GenAI, have on the sector.

June 2024

Embedded Finance Symposium

In 2024, we hosted an Embedded Finance Symposium. Attendees included industry executives, Operating Partners, portfolio company attendees, and members of the Lightyear team. Presentations featured five businesses, including Stripe, Check, Salsa, Kanmon, and Layer Financial, across the embedded finance value chain that discussed embedded finance as a strategy to extend vertical SaaS into a financial system of record.

December 2024

11 Portfolio Company Roundtables

Lightyear hosted eleven CXO Forums for executives at our portfolio companies to share best practices and analyze challenges and opportunities. Below are three examples from this past year.



January

CMO Forum

(Generative AI: Marketing and Sales Tools)



May

CEO Forum

(Talent Assessment: 9-Box Performance Management)



October

CFO Forum

(Budget and Forecasting: Scenario & Contingency Planning, Stress Testing)

Lightyear Gives Back

The Lightyear team dedicated their time and resources to a variety of important local causes throughout the year.


March | Career Discovery Week


Hosted high school students to discuss career paths in finance


May | J.P. Morgan Corporate Challenge


Participated in and donated to the J.P. Morgan Corporate Challenge


July | Operation Backpack


Gave children living in NYC homeless shelters a new backpack and supplies


September | Randall’s Island Park Alliance


Replenished the nature trails at Randall's Island



November | Food Drive with City Harvest


Donated over 130 pounds of food


December | Coalition for the Homeless Holiday Toy Drive


Donated gifts from 75 children's wishlists for the holidays

DISCLAIMER


The information in this newsletter is presented on a confidential basis and may not be reproduced or used in whole or in part for any purpose. By viewing or accepting a copy of this newsletter, the recipient agrees that it is subject to a duty of confidentiality and will not disclose such information to any third party without the prior written consent of Lightyear Capital LLC (“Lightyear”).


The content of this newsletter is for information and discussion purposes only and does not constitute an offer to sell or a solicitation of an offer to purchase an interest in any investment fund affiliated with Lightyear (each, a “Lightyear Fund”). Any offer or solicitation will be made only pursuant to a confidential private placement memorandum, which will include a detailed description of the applicable Lightyear Fund, including the material terms of such Lightyear Fund and certain risk factors and potential conflicts of interest relating to an investment in such Lightyear Fund. An investment in a Lightyear Fund involves a high degree of risk due to, among other things, the nature of Lightyear Fund investments and potential conflicts of interest. Investors should carefully consider the risk factors and other disclosures included in the applicable offering memorandum and other materials relating to the Lightyear Fund in which the investor is considering an investment.


Statements contained in this newsletter that are not historical facts are based on current expectations, estimates, projections, opinions, and beliefs of Lightyear. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Certain economic and market information contained herein have been obtained from sources prepared by third parties and in certain cases have not been updated through the date hereof. While such sources are believed to be reliable, neither Lightyear nor its employees or any of its representatives assume any responsibility for the accuracy or completeness of such information and Lightyear has no responsibility to update any of the information provided in this newsletter. Lightyear has not made any representation or warranty, express or implied, with respect to the fairness, correctness, accuracy, reasonableness, or completeness of any of the information contained herein (including, but not limited to, information obtained from third parties), and Lightyear expressly disclaims any responsibility or liability therefor.


Any selected examples and investments presented herein relating to investments made by the Lightyear Funds are not indicative of the Lightyear Funds’ investments as a whole or such funds’ performance and may not be representative of all transactions of a given type or of investments generally. Any such selected examples and investment summaries are merely intended to be illustrative of the types of investments that may be made by the Lightyear Funds employing the investment strategies deployed by Lightyear. Any add-on acquisition history of the portfolio companies of the Lightyear Funds included herein is intended to illustrate recent add-on acquisition activity of such companies and is not indicative of the activity of the portfolio companies of the Lightyear Funds as a whole or in prior years.


This newsletter includes information regarding past and present portfolio companies of the Lightyear Funds. It should not be assumed that investments made in the future will be comparable in quality or performance to the investments described herein. Past performance is not indicative of future results and there can be no assurance that any Lightyear Fund will achieve comparable results or be able to implement its investment strategy or achieve its investment objectives.


Recipients of this newsletter should not construe the contents of this newsletter as financial, legal, accounting, tax, or other advice or information applicable to such recipient’s particular financial situation.


These disclosures apply only to this newsletter and not to other websites that may be accessible from the newsletter and Lightyear shall not be responsible for the content of any third-party website accessible from this newsletter. If you access any third-party website through this newsletter, you do so at your own risk and we encourage you to review the privacy policies and user agreements of all other websites that you visit as such policies and agreements will govern your use of those websites.


Operating Partners (i) are not exclusive and may provide similar services to other third parties, including portfolio companies of investment funds affiliated with Lightyear and (ii) are not employees or affiliates of Lightyear or its affiliates but are independent contractors. The composition of the network of Operating Partners is subject to change.

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