Private-equity firm Vista Equity Partners, which focuses on data, technology and software investments, is planning to raise as much as $8 billion for a new fund, its biggest yet, people with knowledge of the matter said.
The firm could be in the market for the new pool as soon as this month, said one of the people, who asked not to be identified because the information is private. That’s about a year after Vista completed its previous fund.
Investors continue to pour the record distributions they are receiving from fund managers back into alternative investments. In the second quarter, fundraising for U.S. private equity was the strongest since 2008, according to data from asset manager Capital Dynamics. For the first half, investor commitments were $123 billion, up 25 percent from the year-earlier period, the data show.
In October 2014, Vista closed its Vista Equity Partners Fund V with $5.78 billion in in investor commitments, according to a statement at the time.
Last Month, Vista agreed to buy Solera Holdings Inc., a seller of risk-management software for investors, for about $6.5 billion, including net debt. Vista teamed with investors including Goldman Sachs Group Inc. and a unit of Koch Industries Inc. to buy Westlake, Texas-based Solera, according to a statement at the time.
The deal, which is due to close in the first quarter of 2016, will be Vista’s biggest ever purchase, trumping last year’s $4.2 billion acquisition of business software maker Tibco Software Inc.
Vista, based in Austin, Texas, is run by co-founders Robert Smith, who serves as chairman and chief executive, and Brian Sheth, the firm’s president. It has secured more than $14 billion in total capital commitments, according to its website.
Smith, Sheth and Christine Pastore, Vista’s vice president of investor relations, didn’t respond to requests for comment.