Vista co-founder Robert Smith

Vista Equity Partners has secured nearly $10.5 billion in capital commitments for its sixth flagship fund, according to SEC filings. The tech-focused private equity firm, which has primary offices in Texas and California, originally targeted $8 billion for the fund but later increased expectations to $10 billion.

Why it matters: Vista has been moving quickly up the capital stack, transitioning from a mid-market buyout firm to one of the world's largest private equity investors in technology companies. Historical returns have been extremely strong, with Vista on record as talking about how it has never lost money on a control deal. Going forward, the questions are if Vista can manage the speed and size of its scale-up, and if it has been letting leverage multiples get too rich on some of its deals (as some of its rivals argue).

Caveat: The firm has not yet returned requests for comment, but word is that the $10.46 billion does not quite represent a final close for the fund. Expect the final figure to be $10.5 billion on the nose, with Vista still trying to work through final allocations.

Go deeper

Updated 21 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1 a.m. ET: 31,245,797 — Total deaths: 963,693— Total recoveries: 21,394,593Map.
  2. U.S.: Total confirmed cases as of 1 a.m. ET: 6,856,884 — Total deaths: 199,865 — Total recoveries: 2,615,949 — Total tests: 95,841,281Map.
  3. Health: CDC says it mistakenly published guidance about COVID-19 spreading through air.
  4. Media: Conservative blogger who spread COVID-19 misinformation worked for Fauci's agency.
  5. Politics: House Democrats file legislation to fund government through Dec. 11.
  6. World: U.K. upgrades COVID alert level as Europe sees worrying rise in infections — "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.

Texas and Louisiana face fresh flood threat from Tropical Storm Beta

Tropical Storm Beta slowly approaching the Texas coast on Monday. Photo: National Weather Service/Twitter

Tropical Storm Beta crossed the Texas coast near the southern end of the Matagorda Peninsula late Monday, the National Hurricane Center said, bringing with it the risk of "life-threatening storm surge" and flooding to parts of Texas and Louisiana.

What's happening: Texas Gov. Greg Abbott (R) made a disaster declaration and Louisiana Gov. John Bel Edwards (D) declared a state of emergency, as the states began feeling the impact of the slow-moving storm — which was causing coastal flooding along the bays near Houston and Galveston in Texas, and the Gulf of Mexico Monday, per the National Weather Service.

Louisville police declare state of emergency as Breonna Taylor decision looms

A demonstrator holds up a sign of Breonna Taylor during a protest in Louisville, Kentucky. Photo: Brandon Bell/Getty Images

The Louisville police chief declared in a memo obtained by news outlets a "state of emergency" for the department on Monday to prepare for Kentucky Attorney General Daniel Cameron's expected announcement on the Breonna Taylor case.

Of note: Louisville has witnessed more than 115 days of protests over the police killing of Taylor, an unarmed Black woman, with calls for all the officers involved to be charged.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!