Vista-Backed Allvue Plans IPO at Up to $3 Billion Value

(Bloomberg) -- Allvue Systems, a software maker serving private capital fund managers and family offices, is planning an initial public offering this year, according to people with knowledge of the matter.

The listing could value the company, backed by private equity firm Vista Equity Partners, at $2 billion to $3 billion, said the people, who asked not to be identified because the information is private. Allvue is also considering a sale and has reached out to potential buyers, they said.

Goldman Sachs Group Inc. is advising Allvue on its plans, the people said. Allvue hasn’t decided which course to pursue and its plans could change, they said.

Representatives for Vista and Goldman Sachs declined to comment. A spokesperson for Allvue, based in Coral Gables, Florida, didn’t immediately respond to a request for comment.

As U.S. regulators examine blank-check listings, traditional IPOs have regained some of their popularity. Just one new special purpose acquisition company, or SPAC, went public in the U.S. in the past two weeks after more than 300 of them raised about $100 billion this year, data compiled by Bloomberg show.

Allvue was formed after Vista acquired AltaReturn and merged it with one of its portfolio companies, Black Mountain Systems, according to a statement at the time.

Vista, led by billionaire Robert F. Smith, has told investors that it’s planning to raise a new flagship fund this year, Bloomberg News reported. The target size hasn’t been set, people with knowledge of the matter said.

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