MassPRIM commits $150 mln to Thoma Bravo Fund XI

MassPRIM approved the commitment at its council meeting in April, sister website peHUB reported. The system has committed a total of $260 million to Thoma Bravo funds over the years, according to documents from the pension system. After the commitment, MassPRIM has about $1.2 billion left to commit this year, according to its 2014 private equity plan.

The firm, which has offices in Chicago and San Francisco, has been marketing Thoma Bravo Fund XI since at least January, launching fundraising less than two years after closing its prior fund on $1.25 billion. Fund X was generating an 11.89 percent internal rate of return since inception as of Sept. 30, 2013, according to performance information from the California State Teachers’ Retirement System. That performance has come down since March 31, 2013, when the fund was producing a 14.64 percent IRR, according to CalSTRS.

Thoma Bravo is led by managing partners Seth Boro, Orlando Bravo, Scott Crabill, Lee Mitchell, Holden Spaht, newly promoted partner Robert Sayle and Carl Thoma.

In March, the firm completed its acquisition of Global Healthcare Exchange, which provides connected, intelligent healthcare supply chains.

Chris Witkowsky is editor of peHUB.