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.