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...Vista Equity Partners, which is seeking to raise as much as $20bn for its latest flagship fund, has tapped Goldman Sachs to arrange a $1.5bn loan secured against its portfolio companies....
...In Mumbai, visits to the Indian companies’ offices provide few additional answers on Gatik and Buena Vista....
...’s companies....
...Vista’s own fundraising effort comes amid concerns over whether the returns made backing tech companies during the past two decades can be sustained....
...Vista is not alone. Earlier this year KKR agreed to pump new capital into one of its portfolio companies, Heartland Dental, to help it refinance a portion of its debt....
...Vista used a similar manoeuvre in its $4.6bn sale of events planning software company Cvent to Blackstone in March....
...Carlyle acquired the company in 2021 for £502mn, according to a filing on the UK’s Companies House....
...Firms such as Vista have turned to so-called net asset value financing to recapitalise companies like Finastra that have been struggling to refinance their debts, or by groups like Hg Capital to pay dividends...
...Vista Equity Partners is one example; David Breach, a former member of Kirkland’s management committee, joined Vista’s top team in 2014....
...The lenders to Finastra were not explicitly told where Vista had gotten the $1bn it pumped into the company....
...Vista declined to comment....
...With little cash left in the fund that had originally invested in Finastra, Vista turned to Goldman Sachs for a loan secured against a group of companies Vista owns....
...Vista’s new equity is designed to give the company more “runway” to stabilise and grow the business....
...Vista had invited him to its annual portfolio company convention, CXO, later that year....
...Job moves Vista Equity has hired Dan Parant as a managing director and global head of private wealth solutions. He joins from KKR....
...Vista Lease was then purchased from “associates of Flohr” by Vista Global, the airline holding company....
...The legal setback comes as Flohr faces questions over his debt-laden airline and about hundreds of millions of dollars of payments made by Vista to a separate Flohr-owned entity as it built one of the world...
...On set, Anderson fosters a sense of camaraderie: “I love a theatre company or a troupe, and I love stories about them,” he says....
...Recently, Vista Equity relied on a NAV loan to stump up the $1bn of equity it needed for a challenged software investment....
...Buyout group Vista recently put in $1bn of equity to clinch the refinancing of $5bn of existing debt at portfolio company Finastra....
...In July, the FT reported private equity firms including Vista Equity Partners, Carlyle Group and Hg Capital had used NAV loans to finance cash distributions to investors....
...Take Vista Equity Partners’ recapitalisation of fintech group Finastra, for example....
...The vistas are monumental: a cardiogram line of hills foregrounds the desert plateau stretching to the horizon....
...IBM rose 1.3 per cent after announcing a $4.6bn deal to acquire software company Apptio from private equity firm Vista Equity Partners....
...Stretched out before us is a blissful vista where our newly youthful selves frolic in perpetual prime....
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