Lightyear Capital LLC, a private equity firm focused on financial services, has appointed Jerry W. Miller, former president and CEO of Van Kampen Investments, as senior advisor on behalf of its affiliated funds. Miller will draw upon his more than two decades of leadership experience in asset management and wealth management in working with Lightyear to identify and support investment opportunities in these areas.
Prior to leading Van Kampen, Miller was a division director for Morgan Stanley's Global Wealth Management Group and a member of its executive and operating committees. Prior to his work at Morgan Stanley, Miller had a 21-year career at Merrill Lynch with multiple leadership roles in both their Investment and Wealth Management businesses. Miller graduated from Swarthmore College with a B.A. in Economics and completed the Advanced Management Program at Harvard Business School.
"Jerry's executive management experience and insights into the asset and wealth management sectors will add to the development of new investment opportunities as well as enhance our operational capabilities," said Donald B. Marron, chairman of Lightyear Capital.
"We are delighted to be working with Jerry," said Mark Vassallo, managing partner of Lightyear Capital. "He provides valuable operational experience which we believe will enhance our value proposition and investment strategy."
Lightyear has two current portfolio companies in the asset and wealth management sectors. Cetera Financial Group is an independent broker-dealer serving over 7,000 independent financial advisors who oversee more than $100 billion of client assets. In April 2012, Cetera acquired the independent broker-dealer business of Genworth Financial Investment Services. Clarion Partners is a commercial real estate investment manager managing over $24 billion of properties throughout the US on behalf of clients. Lightyear remains focused on making additional investments in both the asset and wealth management sectors.
Lightyear Capital is a private equity firm making primarily control investments in North America-based, middle-market financial services companies.