Vista Equity Partners has acquired AltaReturn, a provider of cloud-based, end-to-end technology solutions for the private capital and family office markets. As part of the deal, Vista will merge AltaReturn with portfolio company Black Mountain to form Miami-based Allvue Systems, a provider of alternative investment solutions. No financial terms were disclosed. Deutsche Bank served as exclusive financial adviser to AltaReturn while Jefferies LLC did likewise for Vista.
MIAMI & SAN DIEGO–(BUSINESS WIRE)–AltaReturn, a leading provider of cloud-based, end-to-end technology solutions for the private capital and family office markets announced today it has been acquired by Vista Equity Partners (“Vista”), a leading investment firm focused on enterprise software, data and technology-enabled businesses. As part of the acquisition, AltaReturn will be combined with current Vista portfolio company Black Mountain Systems (“Black Mountain”), to form a new entity to be named Allvue Systems (“Allvue”), headquartered in Miami with offices throughout North America, Europe and Asia. Combined, Allvue becomes the leader in alternative investment solutions and serves 50 of the top 100 CLO managers, with over $2.5 trillion of assets, 90,000 LPs, and $60 billion of family office assets on its platform.
“We’re honored to be joining forces with both the world’s premier software investor, Vista Equity Partners, and with market leader, Black Mountain,” said Allvue CEO and AltaReturn co-Founder, Rey Acosta. “This combination marks a monumental leap forward for fund managers, investors and administrators in the alternative investments industry. Our commitment to Allvue’s clients is straightforward: to develop the most innovative technology in the market while providing an exceptional level of client service.”
The merger of the two firms combines AltaReturn’s deep private equity, venture capital, family office and real estate technology experience with Black Mountain’s innovative workflow software solutions for credit investors and alternative asset managers. The combined entity creates a single technology provider focused on meeting the needs of both single strategy and multi-asset firms, administrators and limited partners.
“With continued growth expected in the private markets, we see extraordinary opportunity in the alternative investment industry,” said Allvue COO and Black Mountain co-founder, Kevin MacDonald. “Allvue’s complete software offering will create tremendous value and streamline processes for asset managers, credit investors and limited partners. We are thrilled to be joining forces with AltaReturn to better serve our customers.”
A combined management team will lead the merged entity with AltaReturn co-Founder Rey Acosta as CEO. Black Mountain’s co-CEO, Kevin MacDonald, will serve as COO of Allvue.
“AltaReturn and Black Mountain are two market leaders, led by strong management teams and with an excellent track record of customer service and innovation,” said Nadeem Syed, Operating Principal, Vista Equity Partners. “With the creation of Allvue, Rey, Kevin and the newly combined team will continue to make advancements and provide valuable technologies for their customers across the alternative investments industry.”
Deutsche Bank served as exclusive financial advisor to AltaReturn, and K&L Gates LLP was the company’s legal advisor. Jefferies LLC acted as financial advisor to Vista and Kirkland & Ellis served as legal advisor to the firm.
AltaReturn offers a suite of solutions for private capital fund managers, administrators and family offices including Fund/Corporate Accounting, CRM, Portfolio Monitoring, Business Intelligence and Investor Portals. Built within a Microsoft-based framework, these solutions are available as an integrated end-to-end suite or as independently licensed applications.
About Black Mountain Systems
Black Mountain Systems is a software company that offers highly configurable solutions including portfolio management, trade order management, compliance, research management, investment accounting, performance attribution, customer relationship management, investor reporting, enterprise data management and data warehousing. Clients consist of many of the world’s leading investment managers, credit funds, hedge funds, private equity, direct lenders and banks who use the company’s platform to manage all varieties of loans, fixed income, alternatives, derivatives, equities, and FX. Black Mountain’s software can be configured to model any business process, store any data, integrate with any system, and provide transparency for all of the above in any format.
To learn more about Allvue, please visit: www.allvuesystems.com
About Vista Equity Partners
Vista is a U.S.-based investment firm with offices in Austin, Chicago, New York City, Oakland, and San Francisco and more than $50 billion in cumulative capital commitments. Vista exclusively invests in enterprise software, data, and technology-enabled organizations led by world-class management teams. As a value-added investor with a long-term perspective, Vista contributes professional expertise and multi-level support towards companies to realize their full experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity. For more information, please visit www.vistaequitypartners.com