Thoma Bravo has promoted former principal Robert Sayle to a partner at the firm.
Sayle has worked in Thoma Bravo’s San Francisco office since 2005. Prior to joining the firm he worked in the technology industry group at JPMorgan in New York and at investment bank Hambrecht & Quist in San Francisco. His promotion brings the number of partners at Thoma Bravo to seven. The other six partners are all managing partners.
Thoma Bravo is currently raising its Fund XI, which has a $2.5 billion target. The firm’s $1.25 billion Fund X closed in 2012.
Thoma Bravo had an active year in 2013, sealing four exits and three investments, including the $1.03 billion acquisition of Intuit’s financial services division and the $395 million acquisition of internet and mobile cloud testing and monitoring company Keynote Systems. The firm typically invests between $50 million and $300 million in businesses in the enterprise and infrastructure software and financial and business service sectors, backing companies with earnings before interest, tax, depreciation and amortisation of more than $20 million, according to its website.
Thoma Bravo was founded in 1998 when Golder Thoma & Company split into two firms, GTCR Golder Rauner and Thoma Cressey Equity Partners – which was eventually renamed Thoma Bravo. The firm is led by Orlando Bravo and Carl Thoma and manages around $4 billion in private equity commitments.