Vista Equity Partners expands credit branch’s reach and team

The firm has hired a Blackstone GSO alumnus to head growth of the branch, with which it hopes to expand its debt offerings.

Vista Equity Partners has hired David Flannery to head its credit branch expansion.

The Austin-based private equity firm announced last week that it is growing its credit program, Vista Credit Partners, and that Flannery will serve as its president.

Vista Credit Partners, formerly known as Vista Credit Opportunities, looks to expand its reach into syndicated and traded credit markets, CLOs and other private debt vehicles. Flannery will focus on the strategic direction of the platform and will oversee any transactions within that space.

Flannery was formerly a senior managing director and co-head of capital solutions strategy at Blackstone’s private credit branch, GSO capital partners, where he focused on distressed debt strategies. Prior to that, he was a portfolio manager and managing director at Anchorage Capital Group. There, he focused on illiquid credit opportunities and CLOs.

VCP’s credit strategy focuses on “rapidly” growing, mid-market, enterprise software, data and technology companies. The firm offers first-lien, second-lien, unitranche and subordinated debt strategies and typically makes debt investments in companies it has at least a 30 percent equity stake in, according to its website.

The firm is currently raising its Vista Opportunistic Credit Fund, which launched in December of last year. The vehicle received a $200 million commitment from the New York State Common Retirement Fund.

Vista was unable to be reached for comment by press time.

Vista Equity Partners is an alternative investment firm focused on equity and debt investments in technology-enabled businesses. Its credit branch currently has $1.2 billion in assets under management. The overall firm has over $43 billion in committed capital.