Vista Equity Partners

Vista Equity Partners Management, LLC (Vista) is an American private equity firm that invests in software businesses^[5] and manages over $100 billion in assets.^[6] Through private equity and private credit, Vista Equity Partners has invested in hundreds of technology companies, including Citrix, SentinelOne, and Marketo. The company has offices in several cities, including Austin, Chicago, New York, and San Francisco.^[7][8]

Vista Equity Partners Management, LLC

Company type	Private
Industry	Private credit[1]
Founded	2000; 25 years ago (2000)
Founder	Robert F. Smith[2]
Headquarters	Austin, Texas , US
Number of locations	5
Key people	David Breach (president)
AUM	US$100 billion (2023)[3]
Number of employees	503 (2022)[4]
Website	vistaequitypartners.com

History

2000–2009

Vista Equity Partners was founded in 2000 by American businessman Robert F. Smith, who is chairman and CEO. Vista opened its first office in San Francisco in 2000.^[9] In November 2008, the company closed a funding round for its first institutional fund with a total of $1.3 billion raised.^[10]

2010–2019

In 2010, Brian N. Sheth was promoted to president and awarded the title of co-founder of the firm. He remained in this role until his departure in 2020.^[11][12]

In 2011, the company opened an office in Austin, Texas.^[9] Since then, Vista has added several private equity and credit funds to its portfolio,^[13][14][15] including its first credit fund, the Vista Credit Opportunities Fund, which raised $196 million.^[16][17] In September 2019, Vista Equity Partners raised $16 billion for their flagship fund, which was the largest technology-focused fund raised by an independent private equity firm at the time.^[18][19] During that time, Vista opened several funds that specifically targeted middle-market companies^[20] and emerging technology companies.^[21] The company also has a permanent capital investment fund, Vista Equity Partners Perennial, which focuses on growing vertical market software companies.^[22][23]

2020–present

In October 2020, Vista's CEO Robert F. Smith and investor Robert T. Brockman were named in a tax evasion case.^[24][25] That month, Smith signed a non-prosecution agreement with the IRS, agreeing to pay $139 million and testify against Brockman.^[24]

As of June 2021, Vista had more than $81 billion in assets under management.^[26] In August 2021, its chief operating officer David Breach was announced as president of Vista.^[27]

In January 2022, it was announced that Citrix Systems had been acquired in a $16.5 billion deal by affiliates of Vista and Evergreen Coast Capital. The all-cash acquisition saw Citrix merge with TIBCO, a Vista portfolio company.^[28]

In August 2022, Vista agreed to acquire tax automation software platform maker Avalara, Inc. for $8.4 billion including debt.^[29]

As of August 2023, Vista Equity Partners had over $100 billion in assets under management.^[30]

In October 2023, Vista, along with Blackstone acquired Energy Exemplar, an Australian energy software company for approximately $1.6 billion.^[31]

In November 2023, Vista launched Vista Credit Strategic Lending, a company providing access to investment opportunities across the spectrum of enterprise software, data and technology-enabled credit.^[32]

Also in 2023, Vista was named Global Technology Private Equity Firm of the Year by Private Equity International.^[33] In June 2024, Vista Equity Partners was ranked 14th in Private Equity International's PEI 300 ranking of the largest private equity firms in the world.^[34]