Like a juggernaut barreling through turbulent markets, software investment powerhouse Thoma Bravo announced Tuesday the closing of its three latest buyout funds, amassing a staggering $34.4 billion in capital commitments and shattering expectations across the private equity landscape.
The firm, advised by legal heavyweight Kirkland & Ellis LLP, locked down $24.3 billion for its flagship Thoma Bravo Fund XVI, $8.1 billion for Discover Fund V, and €1.8 billion ($2 billion) for its dedicated Europe Fund. All three vehicles not only outpaced their original targets but did so with such fervor that two hit their hard caps amid investor frenzy.
Surging Past Targets: Demand Outpaces Supply
“This isn’t just fundraising — it’s a show of force,” said Jennifer James, Thoma Bravo’s managing director and head of investor relations. “Each fund soared past its goal, underscoring our investors’ confidence in our resilience and precision navigating complex markets. We’re ready to make every dollar count.”
The flagship Fund XVI and the European fund were oversubscribed, both hitting their maximum allowed commitments. Discover Fund V, meanwhile, catapulted more than 30% beyond its predecessor’s commitments — a rare feat even in bullish conditions.
