Private equity giant Thoma Bravo is to take up its first office in London as it looks for more deals in Europe.
The software investor is bidding to take two floors of an office block in St James’s Square, moving into the private equity hub of London’s West End in the latest sign of its spending ambitions much 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 newly refurbished office at 31 St James’s Square.
The move, first reported by commercial real estate publication CoStar, makes Thoma Bravo the latest in a string of PE houses to move into the square, with Cinven, Glendower, Astorg and PAI all residing in the neighborhood.
“They’ve been doing a lot of bidding in Europe, so it’s not a surprise, but it looks a bit like they’re parking their deposits on our turf,” said one London-based private equity executive.
A spokesman for Thoma Bravo declined to comment.
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Thoma Bravo is one of the world’s largest private equity firms, with more than $114 billion in assets under management as of March 31, 2022.
The Chicago-based firm tapped investors for nearly $18 billion in 2020 for its flagship buyout fund, the Thoma Bravo Flagship Fund XIV, making the new vehicle more than 41% larger than its predecessor
Its first buyout deal in Europe was in 2011, when it acquired a majority stake in publicly traded French software company InfoVista SA.
The company’s UK deals include the £3.1bn acquisition of Oxford-based cyber security business Sophos in late 2019.
Orlando Bravo, the company’s founder, was in Berlin this summer for the annual private equity industry event SuperReturn, where he argued that enterprise software “is going to be one of the best and safest places to be when you there’s a recession.”
This article was published by Financial News’ sister title, Private Equity News
To contact the authors of this story with comments or news, please email Sebastian McCarthy and Alex Daniel
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