Vista Equity Partners is almost halfway to raising the $20 billion target it set for its flagship fund, according to people familiar with the situation.
Led by billionaire Robert F. Smith, the eighth iteration of the private equity firm’s main fund has garnered more than $9 billion in investor commitments, said one of the people, who asked not to be identified because the information is private. The early capital pledges for Vista Equity Partners Fund VIII LLP since initial plans surfaced late last year underscores the cache Smith brings to tech dealmaking.
A final close for the fund could come at year end, said one of the people. The re-emergence of Vista comes at a bustling time for dealmaking, particularly given the stronghold private equity funds have because of a pullback in public equities.
Vista has more than $93 billion in assets under management, according to its website. Vivid Seats Inc. and Solera are among the firm’s notable investments. This month, residential relocation services app Updater Inc. said it had received $215 million in financing from Vista’s credit arm.
Read more: BNN Bloomberg
