New York-based Lightyear Capital has promoted Michal Petrzela to managing director.
Petrzela first joined Lightyear in 2005. As a part of the promotion, he will also be joining the firm’s investment committee, which includes Chris Casciato, Michael Doppelt, Stewart Gross, Thierry Ho, Donald Marron, and Mark Vassallo. Petrzela previously worked in the Financial Institutions Group at Barclays Capital in London and at Credit Suisse in New York.
Lightyear focuses on mid-market financial services investments in North America. The firm’s third fund closed on $954 million in 2012. Limited partners in Fund III include the Los Angeles County Employees’ Retirement Association, the Nebraska Investment Council and the New Mexico State Investment Council, according to Private Equity International’s Research and Analytics division.
In January, Lightyear sold Cetera Financial Group for $1.15 billion to RCS Corporation. Lightyear created Cetera in 2010 by acquiring three broker dealer businesses from the ING Advisors Network and rebranding them as Cetera.
Lightyear has raised more than $2.5 billion since its founding in 2000. The firm is led by Marron, its chairman and founder, and chief financial officer Timothy Kacani.