Thoma Bravo has appointed Jeff Levin and Kunal Soni as Partners to lead the next phase of growth for its private credit business, as the U.S. software-focused investment firm expands its presence in direct lending and structured credit.

Levin, who joins as Head of Thoma Bravo Credit, and Soni both previously held senior roles at Morgan Stanley Investment Management, where they helped build and scale the firm’s private credit operations.

Since its inception in 2017, Thoma Bravo Credit has invested over $25bn across more than 100 transactions, backing growth-oriented technology and software companies. The platform recently closed its third fund, Thoma Bravo Credit Fund III, enhancing its capacity to meet demand from both borrowers and investors seeking private market exposure.

“Private credit continues to play an increasingly important role in supporting growing businesses and meeting investor demand for income and diversification,” said Orlando Bravo, Founder and Managing Partner at Thoma Bravo. “Jeff and Kunal’s leadership strengthens our ability to deliver broader services and compelling investment opportunities to our investors.”

Levin said his focus will be on expanding Thoma Bravo’s credit offering and deepening its investor base. “Our goal now is to expand the breadth and depth of what we offer so investors can access a broader range of high-quality credit opportunities aligned with their investment objectives, while borrowers can benefit from enhanced expertise and long-term, growth-enabling capital,” he said.

Soni added: “With Thoma Bravo’s reach and resources, we are positioned to deliver meaningful value to both investors and borrowers.”

Thoma Bravo manages about $181bn in assets across its private equity, growth equity, and credit strategies. Over the past two decades, the firm has acquired or invested in approximately 555 software and technology companies representing about $285bn in enterprise value.

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