Vista Is Said to Target $11 Billion for Seventh Main Buyout Fund

Vista Equity Partners is targeting $11 billion for its next main buyout fund, tapping investors again after less than a year, people familiar with the matter said.

The firm is in talks with investors about the fund, which could have a hard cap -- or the maximum amount of outside capital allowed by its agreement with investors -- of about $15 billion, the people said, asking not to be identified because the details aren’t public. Vista is aiming to hold a first close in June or early July, one of the people said.

Decisions haven’t been finalized and details may ...