Alpine invests in YLighting

San Francisco-based private equity firm Alpine Investors has made an undisclosed investment in YLighting, according to a source familiar with the situation. An announcement is reportedly due in the coming days.

Founded in 2001, YLighting sells high-end lighting products at and The company recently launched, a home furnishings and accessories products e-commerce site. Sean Callahan, executive in residence of Alpine Investors, has joined the company as CEO.

Alpine’s one other disclosed deal this year was also in the e-commerce lighting industry. In February, Alpine bought Lighting By Gregory, an online lighting retailer, for an undisclosed price. No word yet on whether the two companies will combine forces.

The funding of YLighting comes as Alpine enters the market with its fourth fund. The fund has a $175 million target and a $205 million hard cap, which represents a slight jump over Alpine’s last fund. Alpine Investors III closed in March 2007 with $125 million in commitments.

Alpine Investors targets companies with greater than $2 million in EBITDA in industries ranging from alarm monitoring and ATM operators to specialty retailers and wealth management. Alpine Investors was formed in 2001 by Graham Weaver, a former partner with Oak Hill Capital. —Erin Griffith