Rachel Arnold, a managing director at Vista Equity Partners, is being promoted to a senior managing director and co-head of the private equity firm's Endeavor fund.
She is replacing Alan Cline, a senior managing director, a news release said.
Ms. Arnold will lead the endeavor fund alongside current co-head Rene Yang Stewart, a senior managing director.
Patrick Severson, a senior managing director, is being appointed to co-head of Vista's Foundation fund in the coming months, replacing Rob Rogers, a senior managing director, the release said.
Messrs. Cline and Rogers will become senior advisers to their respective funds.
Last year, tax-evasion allegations involving founder, Chairman and CEO Robert F. Smith rocked the firm. In October, Mr. Smith signed a non-prosecution agreement admitting repeatedly making false statements to the IRS.
In November, Vista co-founder Brian N. Sheth resigned as president and immediately left the firm.
Sources familiar with Vista said that these were long planned promotions and that after nearly 20 years each that Messrs Severson and Rogers are moving into senior statesmen roles to make room for the next generation.