Blackstone’s $4.6 Billion Cvent Deal Draws Hedge Fund Lawsuit

A hedge fund sued Cvent Holding Corp. over fears that its planned $4.6 billion sale to Blackstone Inc. may benefit current majority owner Vista Equity Partners Management LLC at the expense of public investors.

The lawsuit by a One68 Global Capital LLC affiliate was docketed Thursday, the same day shareholders were set to vote on the transaction. The brief legal complaint seeks internal files from Cvent to investigate concerns that the deal was designed to favor Vista and other company insiders.

The suit in Delaware’s Chancery Court, which stops short of alleging outright wrongdoing, seeks documents under a law giving ...