april Review
In April, Vista announced several transactions, including the acquisition of Model N (NYSE: MODN). We also held our Annual General Meeting, gathering our global investor base to discuss the continued opportunity set in enterprise software, and we hosted several portfolio-wide events that foster connections and promote knowledge sharing.
Vista is a leading global investment firm with more than $101 billion in assets under management as of September 30, 2023. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity.
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Legal Information +
Vista’s Flagship Fund announced the take-private of Model N, a leading provider of vertical-specific revenue optimization and compliance software for the life sciences and high-tech industries. Model N’s solutions help drive mission-critical revenue processes, including pricing, quoting and contracting. Vista looks forward to partnering with the Model N team to build on the company’s best-in-class platform and fuel its next chapter of growth.
Investing in Enterprise Software
This document is intended to provide general information regarding Vista’s investing experience and not for the purpose of soliciting investors for any Vista Fund. Under no circumstances should the information provided be considered an offer to sell, or a solicitation to buy, any security. Such offer or solicitation may only be made to accredited investors and qualified purchasers pursuant to the current offering documents of the relevant Vista Fund. The information provided may not be reproduced or disseminated to any third parties without the written consent of Vista. The past performance of previous Vista Funds and portfolio companies is not necessarily indicative of future results. Investors in Vista Funds may lose investment capital. There can be no assurance that any future Vista Funds or portfolio companies will achieve comparable results. Additional important disclosures can be found here. ©2024 Vista
The content of this Newsletter is for general, informational purposes. Vista Equity Partners does not make any representation or warranty of any kind, express or implied, as to the accuracy or completeness of the information contained herein. Under no circumstances should the information presented be considered an offer to sell, or a solicitation to buy, any security. Such offer or solicitation may only be made pursuant to the current offering documents for the relevant Vista Fund (the “Fund”) which may only be provided to accredited investors and qualified purchasers as defined under the Securities Act of 1933 and the Investment Company Act of 1940. While the information provided herein is believed to be accurate and reliable, Vista Equity Partners, its advisors and employees make no express warranty as to its completeness or accuracy.
Although the Newsletter may include investment-related information, nothing in the Newsletter is a recommendation that you purchase, sell or hold any security or other investment, or that you should pursue any investment strategy, and no information or Content (as defined below) on the Newsletter is to be relied upon for the purpose of making or communicating investment or other decisions. Nothing in the Newsletter is intended to be, and you should not consider anything on the Newsletter to be investment, accounting, tax, legal or other professional advice.
The information provided in this Newsletter may not be reproduced, distributed or communicated, in whole or in part, to any third party without the express written consent of Vista Equity Partners.
This Newsletter includes information regarding Vista Equity Partners’ past and present portfolio companies. It should not be assumed that investments made in the future will be comparable in quality or performance to the investments described herein. Further, references to Vista Equity Partners’ past and present portfolio companies should not be construed as a recommendation of any particular investment or security. The portfolio companies listed should not be assumed to have been profitable. Any past performance information in the Newsletter is not necessarily indicative, or a guarantee, of future results. Certain transactions may not be publicly announced at the time of distribution of this document and are therefore not included. Please view www.vistaequitypartners.com for additional information regarding Vista’s strategies and past and present investments.
The Newsletter may contain forward-looking statements (including those relating to current and future market conditions and trends in respect thereof) that are not historical facts and are based on current expectations, estimates, projections, opinions and/or beliefs of Vista. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. In addition, no representation or warranty is made with respect to the reasonableness of any estimates, forecasts, illustrations, prospects or returns, which should be regarded as illustrative only, or that any profits will be realized. Actual events or results or actual performance of the relevant Fund (or any other entity referred to in the Newsletter) may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward-looking statements in making their investment decisions. No representation or warranty is made as to future performance or such forward-looking statements.
Please see Disclosures at vistaequitypartners.com/disclosures/ for further information.
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Michael Fosnaugh, Co-Head of the Flagship Fund and Senior Managing Director
Model N has built a strong reputation through a straightforward formula – offering mission-critical products to help maximize revenue growth within some of the most important and innovative companies in the world."
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APRIL 2024 Announced TransactionS
2024 Annual General Meeting
In April, we held our Annual General Meeting in New York to review our portfolio and share our perspective on the enterprise software market with our investors. We also discussed the transformative power of generative AI and how Vista is partnering with our portfolio companies to incorporate this technology into their products and features while optimizing internal processes to drive efficiency.
Vista’s Founder, Chairman and CEO, Robert F. Smith, joined Ellucian CEO, Laura Ipsen, for a conversation at the 2024 Ellucian Live Conference. Robert shared details on how Vista is encouraging diversity at the Firm and across Vista’s portfolio through internships, employee resource groups, development programs and more.
David Breach, Vista’s President and Chief Operating Officer, recently spoke with CAIS CEO, Matt Brown,
at CAIS Live NYC about the opportunities in the enterprise software market across private equity and private credit. During the conversation, David touched on Vista’s commitment to value creation, why that approach has enabled consistent outcomes over the last year, and how Vista is broadening access to our investment strategies by expanding our presence in the private wealth market.
Insights and Ideas
Hundreds of leaders from across the Vista portfolio recently gathered for two of our annual Best Practice Sharing Summits, focused on topics like product development and go-to-market success. Attendees at these events had the opportunity to network with peers, share learnings and best practices, and hear from industry leaders. Through our portfolio-wide events, we strive to harness our ecosystem’s collective knowledge and talent to accelerate innovation and build stronger, more resilient businesses.
An Ecosystem of Opportunity
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