Vista Equity Partners Fund VIII, L.P. Recommendation Report
ā
Hamilton Lane
ā
As of 6/30/22, the General Partner had delivered stable performance across its mature funds, with Fund III generating top-
quartile net IRR returns, Fund V generating second-quartile net IRR returns and Funds IV & VI generating third-quartile net IRR
returns
($mm)
Fund
Fund III
Fund IV
Fund V
Fund VI
Fund VII
Total
Fund VII generated bottom-quartile performance on a net IRR basis but remains early in its development
Vintage
2007
2011
2014
2016
2019
Fund Size
$1,287
3,467
6,007
11,095
17,077
Vista Equity Partners Management, LLC
Prior Investment Performance'
As of 6/30/22
Capital
Drawn
Capital
Distributed
$1,361.6
$3,207.8
3,369.1
4,268.6
7,198.6
7,810.1
13,115.9
10,701.5
11,840.4
117.0
$36,885.6 $26,104.9
NAV
$81.5
2,303.2
7,879.0
14,683.4
16,229.4
$41,176.5
DPI
2.4x
1.3x
1.1x
0.8x
0.0x
0.7x
TVPI
2.4x
2.0x
2.2x
1.9x
1.4x
1.8x
Track Record (cont.)
Net
IRR
27.0%
14.7%
20.2%
20.0%
17.4%
19.8%
DPI
HL Benchmark
North American Buyout
As of 6/30/22
Top-Quartile
2.0x
2.0x
1.6x
1.1x
0.3x
TVPI
2.1x
2.3x
2.2x
2.1x
1.7x
Net
IRR
15.7%
21.7%
24.4%
26.5%
39.4%
1 Capital Drawn, Capital Distributed and NAV are calculated from the cash flows of fee-paying limited partners and exclude any cash flows from the General Partner's commitment
Executive Summary | General Partner | Investment Strategy | Track Record | ESG | Appendices
November 2022 | Proprietary and Confidential
PME Benchmark
S&P 500 TR
As of 6/30/22
PME
IRR
10.1%
14.2%
13.5%
15.7%
16.9%
14.4%
Vista Equity Partners Fund VIII, L.P. | Page 19View entire presentation