Lightyear Capital buys majority stake in Wealth Enhancement Group

April 21, 2015 12:30 PM

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NEW YORK, April 21 (Reuters) - Private equity firm Lightyear Capital LLC said on Tuesday it bought a majority stake in the independent U.S. Midwestern firm Wealth Enhancement Group as Lightyear seeks another windfall good investment in the wealth management market.

Lightyear, led by former Paine Webber Group head Donald Marron, made $1.6 billion last year on the sale of Cetera Financial Group to RCS Capital Corporation, according to a press release.

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