Lightyear Capital raises $846m

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Lightyear Capital has raised $846 million for its Lightyear Fund IV, according to a SEC filing. The New York-headquartered firm began fundraising in 2016 with a $1.25 billion target.

Its previous fund raised $950 million in 2012.

Investors that committed to Lightyear Fund IV include the New Mexico State Investment Council, Los Angeles Fire & Police Pension System and the Los Angeles County Employees' Retirement Association.

The fund will target buyout opportunities in financial services sectors in North America.