Which big PEs are best known for tech, particularly software, investments? LDN, UK
Just curious to know which big PEs are very focused on tech, particularly software space. Location is specified!
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Based on the most helpful WSO content, Vista Equity Partners and Silver Lake are two of the top technology PE firms known for their focus on the tech sector, particularly software.
Vista Equity Partners is purely focused on enterprise software and, along with Thoma Bravo, they dominate a significant portion (around 60+%) of the B2B software buyout PE deals on the market.
Silver Lake, on the other hand, has a much wider mandate and is seen as more of a general TMT player. They've made investments in software, hardware deals, energy & resource tech, and media investments.
In the London context, some of the biggest LBO PE Funds include traditional US MFs (BX, KKR, Carlyle, Apollo, TPG, Bain Capital, Warburg Pincus), US UMM(H&F, Advent, Silver Lake, CD&R), and EU UMMs (Permira, BC Partners, CVC, Bridgepoint, Ardian, PAI Partners, Cinven, EQT).
Remember, you'd be #blessed to get a job at any of these firms and would have amazing career opportunities afforded to you if you ever decided to leave them.
Sources: Vista Equity Partners vs. Silver Lake, PE recruiting technical questions (software specific), 20 Most Frequently Asked Questions - London Edition
Hg Capital is the most active pureplay software investor in Europe (headquartered in LDN vs. a lot of the big tech players building out teams in LDN but based in the U.S.), Thoma Bravo recently built out a big team in London, SilverLake has a team there, EQT does a decent amount of tech / software. Lots of UMM / MM PE firms as well like Francisco Partners, TA Associates, GA and other megafunds' growth teams (KKR, Bx, CVC, etc.) that focus primarily on tech / tech-enabled and software. Not a comprehensive list but hopefully something to get you started.
Would say Oakley Capital, and maybe the likes of Inflexion, Bridgepoint, Montagu.
Otherwise, largely agree with TC96 above that Hg is probably #1.
These are not even close to being the biggest. Bridgepoint is large though
How is HG in the US?
No idea, sorry.
Definitely growing, recently poached the head of Vista's small cap funds (Alan Cline) to run their North American effort.
Livingbridge does more software than Inflexion.
For other UK / European HQ-ed PE with good software investing experience, see also Apax, Astorg, Corten Capital, CVC, EQT, Five Arrows, Montagu, Tenzing, Vitruvian.
For US HQ-ed names with London offices: AKKR, Battery, Bregal Milestone, Clearlake, FTV Capital, Francisco Partners, Great Hill Partners, Lead Edge, Marlin, PSG, Riverside, Summit, TA, TCV, Thoma Bravo, TPG Growth, Warburg Pincus.
PSG and FAPI are good shouts actually, which I forgot. Fair point re. Livingbridge.
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