Blue Owl Capital has led a $750m private credit financing to support Vista Equity Partners’ acquisition of employee management software business Nexthink, according to a report by Bloomberg.
The financing package includes a $650m term loan and a $100m revolving credit facility, according to a person familiar with the matter. Blue Owl reportedly acted as the largest lender in the transaction, with the term loan priced at 5.5 percentage points over the US benchmark rate.
Vista agreed to acquire a majority stake in Nexthink in October. The deal valued the Swiss-American software company at about $3bn. Nexthink develops software that uses artificial intelligence to monitor the performance of employees’ devices, applications, and data connections.
The transaction comes as the $1.8tn private credit market faces increased investor scrutiny, with concerns mounting over liquidity conditions and how advances in artificial intelligence could affect valuations in the software sector.
