Vista Equity Partners has closed technology buyout fund Vista Equity Partners Fund VII at its hard cap of $16 billion, a spokesman said.
The fund's initial fundraising target was $12 billion. The previous fund, Vista Equity Partners Fund VI, closed at $11.1 billion.
Vista Equity Partners Fund VII focuses on data, enterprise software companies and other technology companies throughout North America.
Investors include the $216.2 billion New York State Common Retirement Fund, Albany; $42.8 billion Illinois Municipal Retirement Fund, Oak Brook; $36 billion Connecticut Retirement Plans & Trust Funds, Hartford; and $31.9 billion Texas County & District Retirement System, Austin.