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Vista seeks $3.5bn for technology buyout fund

9 Jan 2014

Technology-focused buyout firm Vista Equity Partners is looking to raise $3.5bn for its next fund, according to Bloomberg.

Vista Equity Partners Fund V will have the same target as the firm’s prior vehicle, which closed in 2012. It also closed $1.1bn for an additional small-cap fund in November 2013, well above the firm’s starting target of $500m. The New Jersey State Investment Council had committed $100m to the fund. It is also a limited partner for the firm’s other vehicles and showed that the firms 2009-vintage vehicle was running a 2.4 multiple, while its 2012 fund recorded a 1.02x return.

The firm’s 2012 fund was generating a 1.02 times multiple on invested capital as of Oct. 31, according to performance data from the New Jersey Division of Investment. Vista Equity’s $1.3 billion fund from 2008 was producing a 2.4 times multiple as of the same date, the data shows.

Most recently the firm was said to be considering making an multi-billion dollar offer for business software group Compuware Corp.

Earlier in the year Vista bought ACTIVE Network in a deal that valued the activity and participant management software company at around $1.05bn.

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