Vista Equity blows past target for fund V, raises $5.8 bln

Vista Equity Partners, the technology-focused private equity firm, closed its fifth flagship fund Wednesday at $5.775 billion.

Vista began marketing in January for the pool, which handily beat its $3.5 billion target. New LPs for Vista Equity Partners Fund V include investors from United States, Europe, Asia, Australia and the Middle East, the firm said.

“We are pleased by the tremendous demand for our flagship fund,” Robert Smith, Vista’s founder, chairman and CEO, said in a statement. “The oversubscription is an acknowledgment of Vista’s strategy.”

[contextly_sidebar id=”FFqjlCoxfhTVDQLYyQ19DfEadDuXHP1c”]Fund V is Vista’s largest PE fund to date and is bigger than its fourth flagship fund, which collected $3.5 billon in 2012. The firm’s third pool raised $1.3 billion in 2008.

Performance data for Fund IV, a young pool, was not available. Vista’s third fund produced a 31.6 percent IRR and 2.46x total value multiple as of June 30, according to the Oregon Public Employees Retirement Fund.

With offices in Austin, Chicago and San Francisco, Vista focuses on software, data, and technology-enabled organizations. The PE firm has been on an acquisition tear and has announced buys of NAVEX Global, TransFirst Holding and Tibco Software in the past few weeks.

Executives for Vista did not return calls for comment.

Photo courtesy of ShutterStock