Oregon Pledge Sets Stage For Close of KKR Flagship Fund

With a $250 million follow-up commitment from the Oregon Investment Council, Kohlberg Kravis Roberts & Co’s latest flagship fund is within reach of its $8 billion target, a fundraising goal the firm started pursuing nearly two and a half years ago, according to Buyouts, peHUB’s sister magazine…

Bregal Sagemount Makes Minority Investment in MicroEdge

MicroEdge has secured a minority investment from Bregal Sagemount. Existing investors Vista Equity Partners and the MicroEdge management team, led by CEO Preston McKenzie, will retain majority ownership. Additional terms were not disclosed. MicroEdge is a provider of software and services to the giving community worldwide.

Frontier Capital Sells Lanyon to Vista Equity Partners

Frontier Capital has exited its investment in Lanyon, a provider of SaaS-based software solutions for the hospitality industry. Headquartered in Dallas, TX, Lanyon provides software-as-a-service content and spend management solutions for corporations, hotels and travel intermediaries in the global hospitality industry. The company was acquired by Vista Equity Partners.

Madison Dearborn Invests in Aderant Holdings

Madison Dearborn Partners said Monday it has agreed to invest in Aderant Holdings. The sellers are Vista Equity Partners and company management, which will retain “significant” ownership positions. Financial terms weren’t announced. MDP is buying about half of Vista Equity’s and Aderant management’s stakes, the statement says. Atlanta-based Aderant provides business management software for law and professional services firms. BofA Merrill Lynch provided financial advice to MDP, while BMO Capital Markets and Marks Baughan advised Aderant and Vista.

ADP Sells Taxware Division to Vista Equity Partners

Automatic Data Processing has sold its taxware division to Vista Equity Partners, a private-equity firm focused on investments in software and technology-enabled services. Terms of the sale were not disclosed. Mooreland Partners acted as exclusive financial advisor to ADP.

Vista Equity Acquires Bullhorn

Private equity firm Vista Equity Partners acquired Bullhorn, Inc. No terms were disclosed. Recruiting software developer Bullhorn will operate as a stand-alone company. PRESS RELEASE Bullhorn Inc. has been Acquired by Vista Equity Partners Acquisition to Accelerate Bullhorn’s Growth and Product Plans BOSTON, MA (June 14, 2012) ― Bullhorn, Inc., the market leading recruiting software […]

Misys Confirms Approach from Vista Equity Partners

Misys, the British banking software company that is in talks about merging with its Swiss peer Temenos, received a rival approach from Vista Equity Partners, Reuters reported Monday. The Financial Times had earlier on Monday reported that the private equity firm was lining up a 1.2 billion pounds ($1.9 billion) bid for the British company. […]

New York City Pensions Commit $880 Million to Four Funds

The New York City Bureau of Asset Management, which manages $115 billion in assets from the city’s five municipal pension funds, committed an impressive $880 million to four private equity funds, according to recent investment reports and a spokesman at the city comptroller’s office.

The largest of the four commitments was $300 million to Leonard Green & Partners‘ Green Equity Investors VI LP, a private equity fund with a $5 billion target. The Los Angeles-based consumer retail specialist is known for making investments in such high profile companies as Neiman Marcus, J. Crew, Whole Foods, Rite-Aid, Sports Authority, Petco and BJ’s Wholesale.

The fund has been on a fundraising tear…

Vista Equity Buys Thomson Reuters’ Risk Management Software Biz

Vista Equity Partners is acquiring Thomson Reuters‘ trade and risk management software business, which includes flagship product Kondor. Vista beat bids from other private equity firms including Cinven, Bridgepoint and Montagu Private Equity. The value of the sale was not disclosed, but the loan supporting the leveraged buyout is expected to be around $200 million, Reuters wrote. Thomson Reuters is the publisher of this blog.

Vista Equity Partners Buys Sage Healthcare Unit

Vista Equity Partners is paying $320 million to buy the healthcare unit of British software company Sage, Reuters reported. Sage will return all of the proceeds to shareholders through a share buyback program.

ADERANT To Buy CompuLaw

ADERANT, which is backed by Vista Equity Partners, has completed its buy of CompuLaw. Financial terms weren’t disclosed. Los Angeles-based CompuLaw provides automated court rules-based legal calendaring software. News of the deal was disclosed by Clear Capital Advisors, which provided financial advice to CompuLaw.

Slideshow: 5 Top Strategic Buyers Of Sponsor-Backed Companies

Corporations and other strategic buyers are presenting buyout shops with serious competition in today’s heated market, but they’re also supplying a rich source of exits, according to the Buyouts cover story, published June 20. As of June 13, strategic buyers around the world bought 15,825 companies, including full or partial stakes, with a combined value […]

Vista Equity Views A New Fund

Vista Equity Partners has apparently begun raising its next fund, Vista Equity Partners IV. The San Francisco-based private equity firm, which focuses on software and technology firms, has total committed capital of $2.7 billion, according to the firm’s Web site. Vista was founded in 2000.
The previous fund in the series, Fund III, closed in 2008, having raised $1.3 billion.

The new fund was revealed as an agenda item for Thursday’s forthcoming meeting of the New Jersey State Investment Council. No word yet as to the size of the proposed commitment nor the fundraising target of the fund itself.

Last year, Vista introduced a fund in a new series, Foundation Fund I, which held an interim close after having raised $195 million of its $400 million overall target.

Huntsman Gay and Vista Equity Recap Sunquest

Private equity firms Huntsman Gay Global Capital and Vista Equity Partners have recapitalized Sunquest Information Systems, a provider of laboratory information systems. Huntsman Gay led the recap. Vista Equity Partners has owned Sunquest since 2007, and says it will retaining a significant stake in the business. Financial terms of the deal were not released.

Huntsman Gay Buying Laboratory Software Company: Moody’s

Huntsman Gay Global Capital LLC, an upstart buyout shop working through a $1.1 billion debut fund, is leading an investor group expected to pay $208 million for a 51 percent stake in Sunquest Information Systems Inc., a provider of laboratory, radiology and pharmacy software products to hospitals and commercial laboratories. Get the full story at Buyouts.

Details of the complex transaction remain sketchy. But according to Moody’s Investors Service, the company would simultaneously borrow $655 million as part of proposed bank credit facilities. Along with $38 million of cash on hand, the company would use $630 million in proceeds from the debt offering to “fund a dividend to existing shareholders, refinance $115 million of outstanding debt, and pay related fees and expenses,” Moody’s said.

Vista Equity Partners, a technology-focused buyout shop with offices in San Francisco, Chicago, and Austin, Texas, helped create Sunquest in 2007 after buying the diagnostic systems business from Misys Healthcare Systems for a reported $381 million. The company is still listed as a portfolio company on the Vista Equity Partners Web site, suggesting it is one of the existing shareholders benefiting from the dividend. We were unable to reach executives at Vista Equity for comment, and an executive at Huntsman Gay declined to comment.

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