Chris Casciato Joins Lightyear

Chris Casciato has joined Lightyear Capital as a managing director. He has spent the past 20 years with Goldman Sachs, where he was a partner in the financial institutions group.

 

PRESS RELEASE

Lightyear Capital LLC (“Lightyear”), a New York-based private equity firm focused on financial services investing, today announced that industry veteran Chris C. Casciato has joined the firm as a Managing Director.  Mr. Casciato will be responsible for sourcing and executing investments on behalf of Lightyear's current $850 million Lightyear Fund II, L.P.

 

Mr. Casciato joins Lightyear after spending over two decades at Goldman, Sachs & Co., where he was a Partner in the Financial Institutions Group responsible for covering some of the firm's largest clients across diverse financial services segments including banking, asset management, and specialty finance.

 

“We are delighted to add Chris to our team.  This is a meaningful addition for Lightyear as Chris significantly augments our financial services experience, relationships, and reputation,” said Donald B. Marron, Chairman and Chief Executive Officer of Lightyear.  “He will contribute enormously to our success as we continue to invest in a diverse portfolio of companies in specialized growth segments of the financial services industry.”

 

“We have worked with Chris for several years, notably on our successful sale of Collegiate Funding Services to JPMorgan Chase in 2006, and are thrilled to add him as a Managing Director,” said Mark F. Vassallo, Managing Director of Lightyear.  “Chris brings substantial additional investment and operational expertise to Lightyear's highly-experienced team.  In addition, we will benefit from his considerable international experience and perspective as we continue to operate in a global marketplace.”

 

Lightyear recently closed on its investment in Antares Holdings Limited, a Bermuda-based insurer and sponsor of a Lloyd's of London syndicate.  To date, Antares is the largest international transaction led by, and the largest equity commitment made by, Lightyear and its affiliated funds.

 

Mr. Casciato spent over 20 years at Goldman, Sachs & Co., where he was elected Partner in 2000.  His career at Goldman, Sachs & Co. included a number of senior management positions in the firm's investment banking division.  In addition to his most recent role as Partner in the Financial Institutions Group, Mr. Casciato was Partner and global Chief Operating Officer of Investment Banking, where he managed revenues in excess of $2.7 billion and a workforce of over 3,000 employees.  His accomplishments include refining the division's strategy and negotiating joint venture agreements with financial institutions in Asia and Australia.  Mr. Casciato was also previously Partner and Group Head of Goldman, Sachs & Co.'s Latin America Investment Banking; Managing Director and Chief Operating Officer of Goldman Sachs India; and Chief Operating Officer of the Real Estate Department.  Before joining Goldman, Sachs & Co., he spent five years as an officer in the United States Army.

 

“Joining Lightyear is the right move for me at this moment in my career.  It is a top-notch, industry-leading firm with a compelling investment thesis, a deep pool of financial services expertise from top to bottom, and a track record of generating returns for its limited partners,” said Mr. Casciato.  “It is exactly the environment I have been seeking, and I look forward to applying my range of experience as we continue building on that success.”

Mr. Casciato holds a Masters in Business Administration from Harvard Business School and a Bachelor of Science in Civil Engineering from the United States Military Academy at West Point, where he was class valedictorian.  He will be based out of Lightyear's New York office.

 

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.