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Lightyear Capital Appoints Steve Auerbach as Senior Advisor to Lightyear Fund V, L.P.

New York, NY, November 5, 2021 – Lightyear Capital LLC (“Lightyear”), a New York-based private equity firm focused on financial services, has appointed Steve Auerbach as a Senior Advisor to Lightyear Fund V, L.P. and its parallel investment vehicles (“Fund V”).

Mr. Auerbach brings more than 30 years of healthcare benefits experience having most recently served as the CEO and Executive Chairman of Alegeus, a leading benefit administration platform in consumer directed healthcare and a former Lightyear Fund III portfolio company. At Alegeus, Steve helped transform the consumer experience of managing healthcare benefit accounts to get the right coverage, care and savings strategies and led Alegeus to a successful outcome for Lightyear Fund III.

Prior to Alegeus, Steve was the President of Connextions, a leading member acquisition platform for the nation's top health plans, which was acquired by OptumHealth in 2011.

Steve is currently the Executive Chairman of SideKick Health and sits on the Boards of HealthPlan One, a Lightyear Fund IV portfolio company, and Vesta Healthcare. He has also held senior leadership positions with UnitedHealth Group, ChannelPoint and Cigna.

“It is great to be working with Steve again as we explore opportunities for Fund V,” said Mark Vassallo, Managing Partner of Lightyear. “He brings valuable leadership experience and a proven track record of driving organizational growth and differentiated value to companies in the healthcare space. This experience will undoubtedly benefit our investing and value creation efforts within the healthcare financial services space.”

“I am very excited to be working again with the Lightyear team to help drive Fund V’s investment strategy behind powerful healthcare themes, including the rise in consumer directed healthcare, patient engagement, coverage and cost containment and payments,” Mr. Auerbach added.

“Having had the privilege of working with Steve at Alegeus and currently working with him at HPOne, we look forward to bringing his successful track record in healthcare, large industry network, and ability to unlock potential in organizations and people to our current and future portfolio companies,” said Michal Petrzela, Managing Director at Lightyear.

Steve holds a B.A. in Mathematics and Statistics from the University of Connecticut and an M.B.A in Finance from the University of Hartford.

About Lightyear Capital LLC
Founded in 2000, Lightyear is a financial services-focused private equity firm based in New York. Through its affiliated private equity funds, Lightyear makes primarily control investments in North America-based, middle-market companies associated with financial services, including asset management and wealth management, banks and brokerage, commercial and consumer finance, financial technology, healthcare financial services, insurance, and tech-enabled business services. Lightyear brings focus 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