Lightyear Capital Completes Acquisition of Majority Equity Stake in Pathlight Capital
New York, NY, November 23, 2015 – Lightyear Capital LLC, a private equity firm
specializing in financial services investing, today announced that an affiliated
investment fund has completed its acquisition of a majority equity stake in Pathlight
Capital LLC (“Pathlight”), a commercial finance company dedicated to providing companies
innovative financing solutions to support growth, acquisitions, refinancings, and
restructurings. The terms of the transaction were not disclosed.
“We believe there is an opportunity to expand Pathlight’s business with incremental
capital, and we look forward to working with Pathlight as the company embarks on
the next phase of growth.”
Founded in 2012, Pathlight has focused on providing secured asset-based loans primarily
to companies in the consumer and retail sector. Going forward, Pathlight intends
to use its expertise to tailor financing solutions for companies not just in the
consumer and retail sector, but for companies in other industry sectors as well.
Mark Vassallo, Managing Partner of Lightyear Capital, commented, "We are pleased
to have completed our investment in Pathlight and look forward to building on Pathlight’s
successes to date as a market leader in stretch asset-based loans. We are excited
to work closely with the Pathlight management team to achieve continued success."
Donald B. Marron, Chairman and Founder of Lightyear Capital added, “We believe there
is an opportunity to expand Pathlight’s business with incremental capital, and we
look forward to working with Pathlight as the company embarks on the next phase
Founder and Chief Executive Officer of Pathlight, Daniel Platt, will remain a minority
owner and continue in his role going forward.
Mr. Platt added, "This acquisition marks a new and exciting chapter of growth for
our company. We are thrilled to have the support of a leading financial services
expert as we set our course toward future success. Together with Lightyear Capital,
we plan to expand our capabilities to provide financing solutions beyond the consumer
and retail sector.”
About Pathlight Capital LLC
Pathlight Capital is a commercial finance company dedicated to providing creative
financing solutions to fund growth, acquisitions, debt refinancings, or restructurings.
While specializing in the consumer and retail sector, Pathlight is also focused
on meeting the needs of companies that operate across a broad range of industries.
In addition to providing loans secured on a first or second lien basis against tangible
and intangible assets, this flexible lending platform also delivers enterprise value
and mezzanine financing options. For more information, please visit
About Lightyear Capital LLC
Lightyear Capital LLC is a financial services-focused private equity firm based
in New York. Lightyear, through its three affiliated private equity funds, has raised
over $2.5 billion of capital and makes primarily control investments in North America-based,
middle-market financial services companies. Lightyear targets investments across
the financial services spectrum, including asset management, banks, brokerage, financial
technology, insurance, and specialty finance. The firm brings strengths and discipline
to its investment process, as well as operating, transaction, and strategic management
experience, along with significant contacts and resources beyond capital. For more
information, please visit
Sloane & Company