Thoma Bravo said to eye $10 billion for next buyout fund – Finance News

on Jan13

12 January 2018 | 5:00 pm

(Bloomberg) — Technology-focused private equity firm Thoma Bravo is planning to seek about $10 billion for its 13th buyout fund, according to people with knowledge of the matter.

Thoma Bravo has held preliminary talks with backers about a return to the fundraising market this year, said the people, who asked not to be identified because the details are private. If the firm collects $10 billion, the fund would be more than 30 percent larger than its predecessor pool, which closed on $7.6 billion in 2016.

Discussions are early and the fund’s target may change, the people said. A spokesman for Thoma Bravo declined to comment.

Thoma Bravo has grown rapidly in recent years as investors seek to increase their exposure to tech investments. In 2012 it got just $1.25 billion for its 10th fund. Peers Silver Lake and Vista Equity Partners raised pools of $15 billion and $11 billion respectively last year, also significantly outstripping their previous efforts.

Thoma Bravo, which has offices in San Francisco and Chicago, has also taken steps to diversify its business, targeting as much as $1 billion for its first technology credit fund. In 2013 it created a special opportunities strategy, which invests in smaller companies.



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