Buyout firm Vista explores $3 billion sale of private markets data provider Allvue, sources say

Vista Equity Partners is considering selling the data and analytics company Allvue Systems for up to $3 billion, including debt, according to sources familiar with the matter. The potential deal comes five years after Allvue's attempt to list on the New York Stock Exchange failed during the 2021 bull run in financial technology stocks.

Despite subdued investor interest and depressed valuations in recent years, 2026 has seen a resurgence in deal-making for specialized financial technology and data providers with resilient business models, even as AI growth continues. Vista has enlisted the help of Evercore and Barclays to explore sale options for the Miami-based Allvue, which offers products to help manage investments, track performance, and streamline back-office operations.

Discussions with potential buyers are at an early stage, and no deal is guaranteed. Allvue, formed in 2019 through the merger of AltaReturn and Black Mountain Systems, now generates over $200 million in annual recurring revenue and has expanded through various acquisitions. Valuations for Allvue could range between $2 billion and $3 billion, based on its strong growth rate, healthy margins, and the scarcity value of its unique offerings compared to competitors now embedded within larger financial institutions.