We advised Lightyear on the secondary transaction and continuation fund formation

Davis Polk advised Lightyear in connection with a single asset GP-led secondary transaction whereby Lightyear Fund IV, L.P. sold its interests in ampliFI Loyalty Solutions to a newly formed continuation fund managed by Lightyear. ampliFI will continue to be managed by Lightyear via the continuation fund, which was anchored by investment funds affiliated with Neuberger Berman as the lead investor, alongside several other new and existing investors.

Lightyear Capital is a New York-based private equity firm that partners with growing companies at the nexus of financial services and technology, healthcare and business services.

ampliFI is a data-driven technology and analytics provider of loyalty solutions to banks and credit unions with assets under $50 billion for their debit and credit card programs.

The Davis Polk corporate team included partners Leor Landa and Michael S. Hong and associates Michael A. Stenbring, Imad Rizkallah and Caroline R. Zhang. Partner Ethan R. Goldman and associate April Filtz provided tax advice. Partner Adam Kaminsky provided employee benefits advice. Counsel Charles Shi provided ERISA advice. Counsel Gregory S. Morrison provided antitrust and competition advice. Members of the Davis Polk team are based in the New York and Washington DC offices.