Software focused private equity firm Vista Equity Partners is reportedly set to close its second small and mid-cap investment fund on slightly less than $1bn.
Vista is also raising a maiden credit fund of about $600m and a co-investment fund that is targeting $1bn, said Dow Jones, citing a person familiar with the fundraising.
Vista Foundation Fund II, which has held a $525m first close, has lined up commitments from LPs, said the source. The fund will invest between $20m and $100m in enterprise software and technology-enables services businesses.
In July this year AltAssets reported that the Illinois Municipal Retirement Fund (IMRF) made new fund commitments including a $50m investment in Vista Equity Partners’ first credit fund.
Vista revealed the fundraise through an SEC filing in May, which showed it was planning to beat the $400m it gathered for its first Foundation Fund in 2010.
Last year the firm closed its flagship fund on $3.5bn, beating its initial target by $1bn.
Copyright © 2013 AltAssets