Thoma Bravo raises $12.6bn

The Chicago and San Francisco-based private equity firm closes latest flagship fund at hard-cap.

Thoma Bravo Fund XIII has held a final close at its $12.6 billion hard-cap, exceeding its target of $9 billion. According to Thoma Bravo, the fund is the largest pool of capital raised to invest in enterprise software companies.

Investors in the fund include the Massachusetts Pension Reserves Investment Management Board, the University of Houston System, Florida State Board of Administration and the New York State Teachers’ Retirement System.

The fund’s predecessor, Thoma Bravo Fund XII, closed at $7.6 billion in September 2016.