- Software developer launching a $725 million loan
- Another $260 million dividend paid in 2012
- Court Square has been backer since 2009
It’s unclear how big the dividend is, sister website peHUB reported. However, it’s the second payout for Court Square.
Rocket Software, of Waltham, Massachusetts, was founded in 1990 and initially provided software to IBM mainframe customers, according to Boston.com. In 2009, Court Square bought $92 million in Rocket Software stock. Rocket’s management is also an investor.
In 2012, Rocket paid a $260 million dividend to shareholders, according to Moody’s Investors Service.
Court Square Capital was formed in 2006 by former members of Citigroup Venture Capital Equity Partners, including Bill Comfort. In 2013, the firm collected $3 billion for its third fund. The firm’s second pool, Court Square Capital Partners II LP, raised roughly the same amount, $3.1 billion, in 2007. Fund II generated a 9.8 percent IRR as of Sept. 30, according to performance data from the Oregon Public Employees Retirement Fund.
Executives at Court Square and Rocket Software could not be reached for comment.
Luisa Beltran is a senior writer for peHUB.