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

Firm: Vista Equity Partners

Fund: Vista Equity Parnters Fund V

Target: $3.5 bln

Raiesd: $5.8 bln

The firm began marketing in January for the pool, which handily beat its $3.5 billion target. New limited partners for Vista Equity Partners Fund V hail 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 Equity Partners’s founder, chairman and CEO, said in a statement. “The oversubscription is an acknowledgment of Vista’s strategy.”

Fund V is the firm’s largest to date, bigger than its fourth flagship fund, which collected $3.5 billon in 2012. The firm raised $1.3 billion for its third pool in 2008.

Performance data for Fund IV, a young pool, was not available. Vista Equity Partners’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 Equity Partners focuses on software, data, and technology-enabled organizations. The firm has been on an acquisition tear, having announced buys of NAVEX Global, TransFirst Holding and Tibco Software in just the past few weeks.

Executives for Vista Equity Partners did not return calls for comment.

Luisa Beltran is a reporter for sister website peHUB.