Thoma Bravo related stories
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- Thoma Bravo Fund X Will Likely Raise $1.2 Bln
We spoke too soon. Last week, peHUB reported that Thoma Bravo was targeting $950 million /122080/thoma-bravo-targets-950-mln-for-fund-x/ with its tenth fund. Now we're hearing that the PE firm has received so much interest for fund X that it will likely come in at $1.2 billion, a source says. Thoma Bravo, which has offices in San Francisco and Chicago, began marketing for fund X right after Labor Day, the person says. A first close is expected in December when Thoma Bravo will likely have commitments of over 50% of the $1.2 billion. A final close is seen in first quarter, the source says.
- Thoma Bravo Targets $950 Mln for Fund X
Today, we have some fundraising news. Thoma Bravo is looking to raise $950 million with its latest fund, a source says. With that target, Thoma Bravo Fund X LP is bigger than the PE firm's prior fund which raised $822.5 million in 2009. Fund X has been out for about a month, the source says. It's unclear how marketing is going but Thoma Bravo has made several exits this year /112466/chicago-shop-rolls-out-exits-as-it-eyes-fund-x/ from fund IX. Thoma Bravo closed its sale of Flexera Software /120730/ontario-teacherss-pension-plan-closes-flexera-buy/ to the Ontario Teacher's Pension Plan this month. The PE firm sold Manatron to Thomson Reuters /112329/thomson-reuters-completes-buy-of-manatron/ (publisher of peHUB) in July and agreed to sell Excelligence Learning /112271/thoma-bravo-to-sell-excelligence-learning-to-sterling/ to Sterling Investment Partners.
- American Capital Backs Flexera Deal
American Capital has invested $15 million to support BMO Capital Markets' syndication of a $100 million debt financing to support the purchase Flexera Software by Teachers' Private Capital. The acquisition was announced in July. Thoma Bravo, the seller, is retaining a minority stake. Financial terms weren’t disclosed.
- Ontario Teachers's Pension Plan Closes Flexera Buy
The Ontario Teachers' Pension Plan said Monday that it has completed its buy of a majority stake in Flexera Software. The deal was announced in July. Thoma Bravo, the seller, is retaining a minority stake. Financial terms weren't disclosed.
- Renaissance Gets Offer from Thoma Bravo/HarbourVest But Recommends Lower Permira Bid
Renaissance Learning said yesterday that it did receive a definitive buyout proposal from Plato Learning that is backed by Thoma Bravo and HarbourVest Partners. Plato is bidding $15.50 a share cash, which includes $128 million equity plus $410 million in debt. However, Renaissance's board said it is still recommending a lower offer from Permira Funds. Permira is offering $14.85 a share cash.
- Del Papa Jumps to TA Associates from Thoma Bravo
Jeffrey A. Del Papa has joined TA Associates where he will be a SVP in the services group. Del Papa was previously with Thoma Bravo.