Lightyear Capital LLC has been emerged as the lead bidder to acquire RidgeWorth Capital Management, Inc., being sold by SunTrust Banks, Inc. (NYSE:STI), Reuters reported citing three sources familiar with the situation. Two of the sources said that SunTrust also received bids from Crestview Partners, L.P. and Thoma Bravo, LLC. One of the sources added that Lightyear is likely to pay between $250 million to $300 million for RidgeWorth. A spokesman for Atlanta-based SunTrust declined to comment. A Lightyear spokesman did not return a request for comment.

Lightyear Capital LLC, Crestview Partners, L.P., and Thoma Bravo, LLC eyes to acquire RidgeWorth Capital Management, Inc. from SunTrust Banks, Inc., said the sources, which declined to be identified because they are not authorized to talk to the media. The transaction size is likely to be $250 million to $300 million, one of the two sources said. SunTrust Banks has provided few buyers’ updated information about mandates that Ridgeworth has won recently from institutional investors, and it expects to get final bids in the next few days, one of the sources said, declining to elaborate. According to Reuters, Lightyear spokeswoman did not return requests for comment and spokeswoman for Thoma Bravo, Crestview, and SunTrust declined to comment.

Lightyear Capital LLC appointed Jerry W. Miller, former President and CEO of Van Kampen Investments, as Senior Advisor on behalf of its affiliated funds. Mr. 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.