At a glance
| Assets under management | $8.1B (as of Dec 2025) S7 |
|---|---|
| Latest fund | Lightyear Fund VI, $2.5B (Apr 2026) S6 |
| EBITDA range | $10M+ S2 |
| Deal types | Platform, Add-on S2 |
| Sectors | Wealth Management, Insurance Brokerage, Accounting & Professional Services, Healthcare Services, Software & SaaS |
What Lightyear Capital buys
Lightyear Capital is a New York private equity firm, founded in 2000, that invests in financial services, financial technology, healthcare, and technology-enabled business services. Its main themes are wealth management and retirement, insurance brokerage, employee benefits and healthcare payments, tax and accounting firms, and vertical software and payments. It reported about $8.1 billion of assets under management at the end of 2025 and closed Fund VI at its $2.5 billion hard cap in April 2026.
Lightyear's published criteria call for control of profitable, growing companies with more than $10 million of EBITDA and enterprise values of $200 million to $2 billion. It sometimes invests alongside an existing sponsor, and when it sells it often keeps a smaller stake. Owners of smaller firms usually meet Lightyear through one of its platforms, which together have made more than 380 add-on acquisitions. Allworth and Cerity Partners buy advisory practices and CPA firms, King Risk Partners buys retail insurance agencies, and CuraLinc buys employee assistance programs.
Recent deals
Announced in the 24 months before October 20, 2026.
| Date | Company | Type | Sector | Source |
|---|---|---|---|---|
| Jul 2026 | Prosperity PartnersMajority growth investment in a Chicago tax and accounting firm; Unity Partners keeps a minority stake | Platform | Accounting & Professional Services | Source |
| Jul 2026 | CorestreamInvestment in a Tampa voluntary benefits software platform alongside existing investor LLR | Investment | Software & SaaS | Source |
| Apr 2026 | Allworth FinancialNew investment from Fund VI, co-led with Integrum and Ontario Teachers' | Investment | Wealth Management | Source |
| Apr 2026 | Lightyear Fund VIClosed at its $2.5 billion hard cap against a $1.75 billion target | Fund close | Source | |
| Mar 2026 | SchellmanCybersecurity compliance firm took an investment from Goldman Sachs Alternatives; Lightyear keeps a stake | Exit | Cybersecurity | Source |
| Feb 2026 | PayByPhoneAgreement to buy the mobile parking payments business from Corpay | Platform | Software & SaaS | Source |
| September 2025 | eCommissionSold to Estancia Capital; Lightyear kept a minority stake | Exit | Source | |
| Jun 2025 | ProfitSolvNew investment co-led with FTV Capital in a legal and accounting practice software company | Investment | Software & SaaS | Source |
| May 2025 | CorpCare Associates (employee assistance program)Employee assistance program added to CuraLinc Healthcare | Add-on | Healthcare Services | Source |
| Apr 2025 | King Risk PartnersGrowth investment in a retail insurance brokerage alongside BHMS and management | Platform | Insurance Brokerage | Source |
| Jan 2025 | Prio WealthBoston wealth manager with $4.1 billion of assets merged into Cerity Partners | Add-on | Wealth Management | Source |
| Dec 2024 | Fishman Block + DiamondEncino, California accounting and tax firm combined with Cerity Partners | Add-on | Accounting & Professional Services | Source |
| Dec 2024 | WealthPoint AdvisorsIndianapolis advisory firm added to Allworth Financial | Add-on | Wealth Management | Source |
| Dec 2024 | Wellspring EAPEmployee assistance program from a Seattle nonprofit added to CuraLinc | Add-on | Healthcare Services | Source |
| Nov 2024 | CCA, LLPTax-focused CPA firm in Pleasant Hill, California added to Allworth | Add-on | Accounting & Professional Services | Source |
| Oct 2024 | Marquee HealthCorporate wellness and health coaching provider added to CuraLinc | Add-on | Healthcare Services | Source |
Portfolio by sector
From the firm's portfolio page S3.
Financial Services
- Allworth Financial
- Cerity Partners
- Wren Sterling
- Inszone Insurance Services
- King Risk Partners
- Prime Pensions
- FirstSun
- Lendmark
- SGCP
- Ygrene
- eCommission Minority stake kept after 2025 sale
Financial Technology
- HPOne
- PayByPhone
- PracticeTek
- ProfitSolv
- Vehlo
Healthcare
- CuraLinc Healthcare
- Corestream
Tech-Enabled Business Services
- Prosperity Partners
- Lighthouse
- Schellman Minority stake kept after 2026 sale
- Engage PEO Minority stake kept after 2023 sale
Greymont’s take
How Lightyear Capital fits a seller
Lightyear is a good fit for owners of wealth advisory practices, CPA and tax firms, insurance agencies, retirement plan administrators and employee assistance programs who want to join a larger national firm. Most of those owners would sell to a Lightyear platform rather than to Lightyear itself. Allworth, for example, bought the CPA firm CCA in November 2024, its eighth deal that year, and Cerity Partners added Prio Wealth in Boston and the accounting firm Fishman Block + Diamond.
Owners of larger companies should expect Lightyear to take control and to sell within a few years; Cerity, Schellman and the first Allworth investment were each held about five to six years. Two questions are worth asking. Will your staff share in the equity, as at Prosperity Partners, where Lightyear agreed to keep an employee ownership program? And will your firm keep its name? Prio Wealth now operates under the Cerity Partners name.
Questions owners ask
Does Lightyear Capital buy wealth management and insurance agencies?
Yes, mostly through its portfolio companies. Allworth, Cerity Partners and Wren Sterling acquire wealth management practices, and King Risk Partners, a retail insurance brokerage, had completed more than 60 acquisitions when Lightyear invested in April 2025. Inszone, another brokerage, shows 115 follow-on deals. Lightyear said in April 2026 that Allworth was its ninth wealth management and retirement investment since 2010.
What size company does Lightyear invest in directly?
Its criteria call for control of profitable companies with more than $10 million of EBITDA and enterprise values between $200 million and $2 billion. Smaller businesses usually fit as add-ons to one of its platforms.
Does Lightyear invest in accounting and tax firms?
Yes. In July 2026 it agreed to make a majority growth investment in Prosperity Partners, a Chicago tax and accounting firm, which it called its seventh investment in tech-enabled business services. Allworth and Cerity Partners have also bought CPA and accounting firms.
Sources
- S1Lightyear Capital home page Accessed October 20, 2026
- S2Lightyear Capital: Our Approach and Investment Criteria Accessed October 20, 2026
- S3Lightyear Capital: Our Portfolio Accessed October 20, 2026
- S4Lightyear Capital: News & Videos Accessed October 20, 2026
- S5Lightyear Capital: Contact Accessed October 20, 2026
- S6Lightyear Capital Closes Fund VI At Hard Cap with $2.5 Billion in Commitments (April 14, 2026) Accessed October 20, 2026
- S7Prosperity Partners Announces Strategic Investment from Lightyear Capital (July 14, 2026) Accessed October 20, 2026
- S8Allworth Financial Announces Expansion of Strategic Investor Group (April 30, 2026) Accessed October 20, 2026
Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Lightyear Capital. Figures are as reported on the dates shown and may have changed. Request a correction