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Thoma Bravo raises over $1 bln for second special opportunities fund

Thoma Bravo said Thursday it closed its second supplemental “top-off” fund at its hard cap of $1.065 billion.

Thoma Bravo Special Opportunities Fund II will focus on the software sector. The pool will invest side-by-side with the private equity firm’s 11th flagship fund, Thoma Bravo Fund XI LP, which closed at $3.662 billion last May.

With offices in Chicago and San Francisco, Thoma Bravo raised its first Special Opportunities Fund after it closed its tenth flagship fund at $1.25 billion in 2012, Reuters News said.

The first Special Opportunities Fund collected $418.4 million in July 2013, a Thoma Bravo spokesman said. That pool is generating an average IRR since inception of 52.84 percent as of Sept. 30, performance data from the California State Teachers’ Retirement System said. Thoma Bravo’s tenth fund is producing a 28.58 percent average IRR since inception, CalSTRS said, while Fund XI, a very young fund, is producing a negative net IRR since inception of 2.05 percent.

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