Q&A With Carl Thoma On Lessons From The Telecom Bubble, Grooming Succesors, And Where He'll Invest His New Fund

Carl Thoma has been in the private equity industry for 27 years, weathering the Drexel Burnham blow-up of the late 1980s and the tech and telecom meltdown of the early 2000s. As reported last week, Thoma Bravo's new fund is nearing its final close after lowering its initial target by nearly half. The $800 million pool of capital will be Carl Thoma's ninth buyout vehicle since getting his start under the name Golder Thoma in 1980. After the jump, a Q&A with him on everything from lending terms to Lent, from evaluations to "ego and greed."

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