Vista Equity Partners President Exits
Posted on 11/30/2020
Brian Sheth, a co-founder and President of Vista Equity Partners, left the firm. The timing of the release of the press release was dictated by the signing of the agreement, which for a number of reasons, including Brian Sheth’s recent bout with COVID-19, was finalized just before Thanksgiving. Some financial media outlets speculated the timing of the release was to avoid less public exposure.
Robert Smith is maintaining control of the private equity firm, while Brian Sheth retains a share of economics. There is a possibilty Brian Sheth could start his own private equity firm (this has not been confirmed). Sheth helped build Vista Equity Partners into a software private equity juggernaut.
Sheth is resigning weeks after Robert Smith settled a massive tax evasion investigation – US$ 138 million in taxes and penalties. Smith also gave up US$ 182 million in tax refund claims. Sheth has been looking to exit Vista Equity Partners for quite some time.
Correction: SWFI updated the story with updated facts.