Lightyear Capital LLC, a private-equity firm led by former PaineWebber chief executive Donald Marron, intends to raise $1.1 billion for its latest investment fund, according to a recent 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. Marron, after selling the fourth-largest U.S. brokerage to Swiss bank UBS (UBSN.VX) in 2000, has pursued a series of buyouts in the financial services and related companies. Marron was not immediately available for comment on the new fund.
Source
