Performance

While H1 2024 did not see a large-scale fund close, several vehicles with hefty targets remain in market.

The firm’s 2016-vintage Fund VI was producing a 2.03x DPI as of December 2023, according to PEI Group data.

Big step-ups in the firm's recent fund sizes may be due to greater LP appetite for co-investing as a way to build private equity exposure on a no-fee, no-carried interest basis.

Documents prepared for a US pension shed light on the performance of the firm's growth funds as it seeks $9bn for its 12th vintage.

The new flagship offering's target size is 12% larger than Fund IX, which closed in 2021 on $5.6bn.

Details of Thoma Bravo Fund XVI and the returns of its predecessors have been disclosed in US pension materials.

The transaction has been backed by capital from long-term yield-oriented institutions and not traditional secondaries firms, PEI understands.

As Asia-Pacific’s fundraising slump continues, hopes are being pinned on the southeast.

Elevated interest rates and an evolving value creation playbook is causing some investors to question whether managers can replicate their past performance.

Headwinds were likely caused by the continued transition to higher base interest rates and a slow-down in M&A activity.