Thoma Bravo eyeing $20bn for new buyout fund

Thoma Bravo, a private equity investment firm focused on the software sector with a particular focus on enterprise solutions, is planning to raise about $2bn in capital commitments for a new flagship buyout fund. 

The report cites people familiar with the matter as revealing that the technology-focused firm is discussing commitments to Thoma Bravo Fund XVI LP, which does not have a hard cap, with potential investors.

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In addition, Thoma Bravo is targeting around $7bn for its new mid-market investment vehicle, Discover Fund V, according to one of Bloomberg’s sources, although discussion on both ends are ongoing and no final decisions regarding the timing or size of the fundraisings has been made.

Thoma Bravo’s last flagship buyout fund – Thoma Bravo XV – closed in late 2022, having attracted over $24bn in commitments from institutional investors including Canada Pension Plan Investment Board and California Public Employees’ Retirement System, while Discover Fund IV raised $6.2bn.

Source: Private Equity Wire

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