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Alternative Assets  + Latest News  + Private Equity  | 
Thoma Bravo-Backed QAD Buys Employee Productivity Platform Redzone for Nearly $1B

Private Equity Firm Thoma Bravo Raises $32.4B for Three Buyout Funds

Private equity firm Thoma Bravo, which focuses on software investments, has completed a fundraise totaling $32.4 billion for three buyout funds, making it one of the biggest private equity fundraisings so far this year.

Thoma Bravo Fund XV, which targets large equity investments in software and other technology companies, raised $24.3bn; Thoma Bravo Discover Fund IV, which focuses on middle-market buyouts, raised $6.2bn; and Thoma Bravo Explore Fund II, which focuses on lower middle-market buyouts, raised $1.8 bn.

Buyout funds are typically used to buy mature companies, often taking a public company private.

Jennifer James, managing director, chief operating officer and head of investor relations and marketing at Thoma Bravo said, “We are energized by our investors’ strong support of the largest fundraise in Thoma Bravo’s history, and of the largest tech fund ever raised, all against the backdrop of a challenging economic and geopolitical environment.”

Each fund surpassed its initial target, with Fund XV marking the “largest tech-focused buyout fund ever raised,” the firm noted, adding that future investments will support Thoma Bravo’s existing investment and partnership strategy across healthcare IT, security, financial technology, infrastructure and applications.

The latest closings follow an April announcement of the final close of Thoma Bravo’s second credit fund, Thoma Bravo Credit Fund II with $3.3bn in total available capital, including leverage.

The funds came from a range of outside investors, including sovereign wealth funds, public pension funds, multinational corporations, insurance companies, fund of funds, endowments, foundations and family offices.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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