Vista Equity Partners has fully exited its investment in event software company Cvent, selling its remaining minority stake to Blackstone in a $1.3bn deal. The transaction finalises Blackstone’s ownership of Cvent following its $4.6bn take-private acquisition in 2023.
Vista, which first acquired Cvent in 2016 for $1.7bn, retained a non-convertible preferred equity stake during the Blackstone-led buyout. The firm supported Cvent through the pandemic-driven downturn in live events and into its current hybrid resurgence.
This exit marks another liquidity milestone for Vista, following its record-setting $5.6bn continuation fund for Cloud Software Group, where original investors saw a 4.1x return.
