Thoma Bravo’s $22 Billion Fundraising

Kirkland & Ellis represented Thoma Bravo on the deal.

Thoma Bravo, a leading private equity firm focused on the software and technology-enabled services sectors, announced the completion of fundraising for three funds totaling more than $22.8 billion in capital commitments: Thoma Bravo Fund XIV, a $17.8 billion fund, Thoma Bravo Discover Fund III, a $3.9 billion fund, and Thoma Bravo Explore Fund, a $1.1 billion fund. Each fund reached its hard-cap and was significantly oversubscribed. These closings bring Thoma Bravo’s assets under management to more than $70 billion, and the new funds significantly enhance the firm’s capacity to invest in high quality software and technology companies around the world.

Thoma Bravo Fund XIV is expected to target large equity investments and is the largest flagship fund in the firm’s history; Thoma Bravo Discover Fund III is expected to make middle-market equity investments; and Thoma Bravo Explore Fund is expected to make lower middle-market equity investments. The funds received strong support from Thoma Bravo’s network of investors including sovereign wealth funds, public pension funds, multinational corporations, insurance companies, fund-of-funds, endowments, foundations and family offices.

The Kirkland team advising Thoma Bravo was led by investment funds partners Katie St. Peters (Picture) and John Muno and included investment funds partners Bruce Ettelson, Laura Stake, Ed Kirby, Adam Parks, Sarah Roberts, Casey O’Brien, Josh Westerholm and Ryan Swan, investment funds associates Nathan Jimenez and Julia Trotta, tax partners Daniel Meehan, Paul Patrow and Meg Dewar and employee benefits partners Elizabeth Dyer and Erica Rozow.

Involved fees earner: Margaret Dewar – Kirkland & Ellis; Elizabeth Dyer – Kirkland & Ellis; Bruce Ettelson – Kirkland & Ellis; Nathan Jimenez – Kirkland & Ellis; Edward Kirby – Kirkland & Ellis; Daniel Meehan – Kirkland & Ellis; John Muno – Kirkland & Ellis; Casey O’Brien – Kirkland & Ellis; Adam Parks – Kirkland & Ellis; Paul Patrow – Kirkland & Ellis; Sarah Roberts – Kirkland & Ellis; Erica Rozow – Kirkland & Ellis; Katie St. Peters – Kirkland & Ellis; Laura Stake – Kirkland & Ellis; Ryan Swan – Kirkland & Ellis; Julia Trotta – Kirkland & Ellis; Josh Westerholm – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Thoma Bravo;

Author: Ambrogio Visconti