Lightyear Capital Adds to Senior Investment Team. Former Warburg Pincus Partner Joins as Managing Director
Former Warburg Pincus Partner Joins As Managing Director
04.26.2005
NEW YORK, NY (April 26, 2005) – Lightyear Capital LLC, a private equity investment firm that manages more than $2 billion in assets including The Lightyear Fund, announced that Stewart K.P. Gross has joined the firm today as a managing director and member of its Investment Committee.
Mr. Gross, age 45, will be responsible for sourcing and evaluating new private equity opportunities and making investment decisions as a member of the Investment Committee. Mr. Gross joins Lightyear from Warburg Pincus LLC, where he spent the last 17 years, most recently serving as a managing director and member of the Executive Management Group.
“Stewart was involved in over 20 transactions representing $1 billion of invested capital at Warburg Pincus. He was also one of the early private equity investors in financial services-related companies. We are excited to welcome him as the newest member of our senior investment team,” said Donald B. Marron, chairman and CEO of Lightyear Capital. "Stewart’s long history of successful investment experience and his network of relationships will add significantly to Lightyear.”
While at Warburg Pincus, Mr. Gross played a leading role in some of the firm’s highly successful investments including BEA Systems (transaction processing software), Renaissance Reinsurance (specialty reinsurance), VERITAS Software (systems management software), Intuit (tax preparation and accounting software), Eagle Investment Systems (portfolio management software), and Kansas City Southern Industries (former parent of Janus asset management).
“Don Marron and his team have built a strong franchise and brand name around the growing market for private equity investing in the broad financial services arena. The team has a great combination of investment judgment, transactional expertise and operating experience which is key to investing successfully in today’s private equity environment. I’m very excited about the opportunity for growth I have here,” said Mr. Gross.
Mr. Gross is currently a director of BEA Systems, SkillSoft, Aldabra Acquisition and two private companies, iUniverse, and Yodlee. In addition, he also serves as chairman of the Civic Capital Corporation, an affiliate of the New York City Investment Fund; a director of Boys & Girls Harbor; and a trustee of The Mt. Sinai Children’s Center Foundation.
Mr. Gross received an A.B., magna cum laude from Harvard College and an M.B.A. from Columbia Business School.
ABOUT LIGHTYEAR CAPITAL
Lightyear is a private equity investment firm providing buyout and growth capital to companies in the financial services industry. Based in New York, Lightyear, through its affiliated funds, has managed approximately $3 billion of committed capital with investments across the financial services spectrum, including asset management, banking, brokerage, financial technology, insurance, leasing and related business services, and other sectors within financial services. Lightyear brings unique strengths and discipline to its investment process, as well as operating, transaction, and strategic management experience, along with significant contacts and resources beyond capital. The senior team of professionals has an average of 20 years of financial services-related experience and includes David Glenn, Stewart Gross, Donald Marron, Richard Sterne, and Mark Vassallo.
For more information, please visit
www.lycap.com.