Dry Powder: The Private Equity Podcast
Defying the Down Market with Vista’s Robert F. Smith
We ask Vista’s CEO how he continues to do deals at an astonishing clip, despite the challenging conditions of today’s market.
One recurring question we’ve been grappling with on Dry Powder is when the private equity industry will finally get back to dealmaking at scale. Many of the clients I’ve talked to have done maybe one deal in the past year. Most haven’t sold any businesses at all. But my guest on today’s show is a remarkable outlier.
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“Since what I’ll call the downturn in November of 2021, we’ve completed or signed 18 monetization events,” says Robert F. Smith, founder, chairman, and CEO of Vista Equity Partners. “Not 1, but 18.”
Today on Dry Powder, I ask Robert how Vista is defying the down market. We’ll also see how they take a unique approach to underwriting, estimating ROI not only for their LPs but for the customers who use their software products.
The Private Equity Podcast
In our podcast series, Bain's Hugh MacArthur interviews leading experts on the trends and opportunities that will redefine the private equity industry.
First published in 11월 2023