Vista
Vista is a major player in the North American software industry. With an impressively large organization, both in terms of investment execution and critical functional expertise in the software sector, Vista has been developing and refining its operational value creation Playbooks for over 20 years. The Vista Foundation fund draws on this large-cap organization to invest in mid-cap companies.
Companies
Strategy
Growth, buyout
sectors
Technology and Software
-
geographies
North America
-
In the selection universe
In the vintage(s)
2000
year established
101 billion
in assets under management
6
offices worldwide
+590
people
Data at
8/11/2024
Source: Public data from company websites and social networks. For the most up-to-date information, we invite our investors to consult the reports available in their own space.
Vista was founded in 2000 by Robert Smith for the sole purpose of trading Buyout in the software sector.
Vista today has over 590 employees, including 185 investment professionals and more than 100 professionals in its Operations team.
The firm currently manages $101Bn in assets via 4 fund families: (i) Private Equity ("PE") - $90Bn in assets under management: Vista Equity Partners Funds ("VEPF" - large cap), Vista Foundation Funds ("VFF" - mid-market), Vista Equity Endeavor Funds ("VEEF" - lower mid-market); (ii) "Perennial" strategy: co-investment alongside other Vista PE funds; (iii) credit funds; (iv) listed equities: Vista Public Strategies.
Today, the company operates from 6 offices: a main office in Austin (Texas), San Francisco, Chicago, Oakland, New York (mainly credit team) and Hong Kong.
A North American software leader
- With almost 25 years of history and a strategy dedicated to the software sector from the outset, Vista is one of the pioneers of buyout capital in the software publisher sector in North America.
- Today, the firm has become one of the sector's undisputed leaders, with over $100 billion in assets under management, almost 600 employees and 13 buyout funds raised.
An institutionalized approach to value creation
- In 2011, the firm institutionalized its operational value creation capabilities by creating the Vista Consulting Group ("VCG"), which has functional experts and aims to implement the firm's proprietary processes and methodologies (the " Vista Best Practices") in portfolio companies.
- Vista hasdeveloped and formalized a hundred best practices for creating operational value dedicated to software publishers. Vista 's operational resources and investment team form a single integrated team.
Views expressed herein represent the current opinion of Altaroc's investment Team. These views and opinions may change at any point in time without prior notification.
Moderate use of financial leverage
- Financial leverage typically represents less than 25% of the enterprise value of portfolio companies.
- The Vista Foundation funds have generated high past performance without significant recourse to debt, which is particularly reassuring in a high interest rate environment.
Views expressed herein represent the current opinion of Altaroc's investment Team. These views and opinions may change at any point in time without prior notification.
A quality "large cap" organization for investing in the mid-market
- The Vista Foundation team targets mid-market companies ranging in size from $250 million to $750 million.
- It has a number of competitive advantages over its independent competitors targeting the same deal sizes, first and foremost its very strong sector expertise and the size of its team with 25 dedicated professionals who have access to a very large number of proprietary internal resources on the Vista platform: 71 junior investment professionals (Analysts and Associates), 4 professionals with expertise in capital markets and, above all, over 100 VCG operational resources.
Views expressed herein represent the current opinion of Altaroc's investment Team. These views and opinions may change at any point in time without prior notification.
Views expressed herein represent the current opinion of Altaroc's investment Team. These views and opinions may change at any point in time without prior notification.
select
Odyssey 2024
Vista Foundation Fund
Fund(s) selected
Fund(s) under selection
geographies
Northern Europe
target sectors
Tech & Payments, Healthcare, Financial Services
Diversification
Around 15 investments
Enterprise value
Between 250 M$ and 750 M$
Investment ticket
Between 150 M$ and 400 M$
Role
Majority/controlling and minority
geographies
Northern Europe
target sectors
Tech & Payments, Healthcare, Financial Services
Diversification
Around 15 investments
Enterprise value
Between 250 M$ and 750 M$
Investment ticket
Between 150 M$ and 400 M$
Role
Majority/controlling and minority
Manager companies
Manager's videos
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