Private equity firm Thoma Bravo brings on two Managing Directors from Morgan Stanley's private credit division.
Thoma Bravo, a leading US-based software-focused investor, has made strategic hires from Morgan Stanley to beef up its credit platform. The appointments of Jeff Levin and Kunal Soni were first reported by Bloomberg.
Jeff Levin, who served as president of The Carlyle Group's Business Development Companies (BDCs) between June 2012 and February 2019, and Kunal Soni, head of the Western region and direct lending technology within private credit at Morgan Stanley, have joined Thoma Bravo as managing directors. However, their specific roles at Thoma Bravo are not detailed beyond their appointment as managing directors.
Levin, who rejoined Morgan Stanley after leaving The Carlyle Group in February 2019, previously held the position of co-head of Morgan Stanley's North America private credit platform. Soni, on the other hand, was head of direct lending at Morgan Stanley.
Thoma Bravo's Credit Fund III, the firm's largest credit pool of capital to date, closed fundraising at $3.6bn in January. This fund focuses on the senior secured debt of established, mission-critical enterprise software companies. The strategy of Thoma Bravo's Credit Fund III is to provide financing solutions that enable these companies to grow and expand their operations.
As of 21 January, Thoma Bravo's Credit Fund III had invested more than $1bn across 20 investments, primarily in the form of senior secured debt. The fund invests in growth-oriented software and technology companies with a focus on enterprise software. The focus of Thoma Bravo's credit platform is on providing financing solutions to growth-oriented software and technology companies.
Thoma Bravo uses private equity, growth equity, and credit strategies for investment. Its credit platform is a key part of its strategy, providing capital to companies that are poised for growth in the software and technology sectors.
However, both Thoma Bravo and Morgan Stanley have not yet commented on the recent news.
[1] Source: Bloomberg [2] Source: Thoma Bravo press release
The appointments of Jeff Levin and Kunal Soni, who have extensive experience in finance and technology from their roles at Morgan Stanley, are expected to enhance Thoma Bravo's credit platform, focusing on lifestyle, entertainment, general-news, and other industries where software and technology play a crucial role. Thoma Bravo's strategic hires, following the success of their Credit Fund III, are aimed at providing financing solutions to growth-oriented software and technology companies, particularly those in the entertainment and lifestyle sectors, as well as general-news platforms and technology-driven businesses.
