Finance

Thoma Bravo plans London office launch


Private equity giant Thoma Bravo is set to take its first London office as it eyes more deals in Europe.

The software investor is under offer to take two floors of an office block in St James’s Square, moving into the private equity heartlands of London’s West End in the latest sign of its ambitions to spend big on this side of the continent.

The company currently has three offices, in Chicago, Miami and San Francisco.

Thoma Bravo is preparing to move into Norfolk House, a recently-redeveloped office at 31 St James’s Square.

The move, first reported by commercial real estate publication CoStar, makes Thoma Bravo the latest in a swathe of PE houses to move into the square, with Cinven, Glendower, Astorg and PAI all residing in the neighbourhood.

“They’ve been doing lots of deals in Europe so it doesn’t come as a surprise, but it does feel a bit like they’re parking their tanks on our lawn,” said one London-based private equity executive.

A spokesperson for Thoma Bravo declined to comment.

READ Private equity firms overhaul London offices in the wake of Covid

Thoma Bravo is one of the largest private equity firms in the world, with more than $114bn in assets under management as of 31 March 2022.

The Chicago-based firm tapped investors for almost $18bn in 2020 for its flagship buyout fund, Thoma Bravo Flagship Fund XIV, making the new vehicle more than 41% larger than its predecessor.

Its first European buyout deal was in 2011, when it acquired a majority stake in the publicly traded French software company InfoVista SA.

The firm’s UK deals have included the £3.1bn takeover of Oxford-based cyber security business Sophos in late 2019.

Orlando Bravo, the firm’s founder, was in Berlin this summer for the annual private equity industry event SuperReturn, where he argued that enterprise software “will be one of the best and safest places to be when there’s a recession.”

This article was published by Financial News sister title Private Equity News

To contact the authors of this story with feedback or news, email Sebastian McCarthy and Alex Daniel

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