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Norwest Equity closes Wealth Enhancement sale

Norwest Equity Partners said Monday it has completed the sale of its majority stake in Wealth Enhancement Group to Lightyear Capital LLC. Financial terms weren’t announced. . The employee-owners of Wealth Enhancement Group will continue hold a stake. Plymouth, Minnesota-based Wealth Enhancement is a wealth management firm.

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Lightyear closes Paradigm sale

Lightyear Capital LLC said Tuesday it completed the sale of Paradigm Acquisition Corp. to Summit Partners. Financial terms weren’t announced. Walnut Creek, California-based Paradigm provides outsourced catastrophic workers’ compensation case management services for insurance companies and self-insured employers.

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Who is buying Situs Holdings?

Ranieri Partners is close to announcing the sale of Situs Holdings. The buyer is a very large private equity firm that is well known in the mortgage services space, peHUB has learned.

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Lightyear Capital appoints MD

Lightyear Capital has promoted Michal Petrzela to managing director. Petrzela joined Lightyear in 2005, after working at Lightyear as a summer associate in 2004.

Lightyear Capital Closes Cooper Gay Deal

Lightyear Capital said Wednesday that it has completed its controlling investment in Cooper Gay Swett & Crawford. The deal was announced in October. London-based Cooper Gay is a global wholesale insurance and reinsurance broker.

Slideshow: Hurricane Sandy Could Be Positive for PE-backed Reinsurers (CORRECTED)

It’s been a week since Hurricane Sandy devastated the East Coast and damages could reach as much as $50 billion, according to the New York Times. Losses due to Sandy are still being worked out. If they are $10 billion or less, primary insurers, like Chubb or Allstate or State Farm, will likely pay the brunt of claims, PE sources say. As damages increase, payment will “disproportionately” fall on reinsurers.

Lightyear Capital Appoints Van Kampen CEO as Senior Advisor

Lightyear Capital, a private equity firm focused on financial services, has appointed Jerry W. Miller as senior advisor on behalf of its affiliated funds. Miller was former president and CEO of Van Kampen Investments. PRESS RELEASE Lightyear Capital LLC, a private equity firm focused on financial services, has appointed Jerry W. Miller, former President and […]

Lightyear Capital Buys PE-backed Paradigm Management

Lightyear Capital has acquired Paradigm Management Services, a provider of healthcare management services, from Sterling Partners. Middle-market investment bank Harris Williams & Co. announced the deal, which closed on Wednesday. Terms were not released. Harris Williams & Co advised Paradigm.

Lightyear Capital Buys Paradigm Management

Sterling Partners has sold  Paradigm Management Services to Lightyear Capital. Financial terms of the deal, which closed Feb. 1, were not announced. Walnut Creek, Calif.-based Paradigm provides healthcare management services. News of the transaction was announced by Harris Williams which provided financial advice to Paradigm.

Permira To Buy BakerCorp from Lightyear Capital

Permira is buying BakerCorp, a provider of equipment rental services for liquid and solid containment applications. The deal, which is expected to close by July, is valued at $960 million. The seller is Lightyear Capital. Morgan Stanley and Deutsche Bank advised Permira. Goldman Sachs advised BakerCorp.

Lightyear, Insight Agree to Sell ARGUS Software for $130 Mln

Lightyear Capital, along Insight Venture Partners, has agreed to sell ARGUS Software to Altus Group for $130 million. The deal is expected to close in second quarter. Lightyear, a New York PE firm that focuses on financial services, invested in Realm Business Solutions in 2006 which it then renamed ARGUS.

Lightyear Capital Raising $1.1B Fund

Buyout shop Lightyear Capital plans to raise $1.1 billion for its latest fund, Reuters reported, citing a regulatory filing. Lightyear Fund III LP raised $150 million so far through UBS Securities, according to a filing with the Securities and Exchange Commission last week. The minimum investment is $10 million, Reuters said. Lightyear is led by former PaineWebber chief executive Donald Marron.

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