Buyout firm Thoma Bravo stands to make $9 billion on a bet on the mortgage market it only had a few ... [+] months to make. Thoma Bravo put up about $2.2 billion of equity to take Ellie Mae private in a leveraged buyout in April 2019, financing the rest of the $3.7 billion purchase price. Its networked business, connecting all parts of the mortgage market on one platform, had picked up market share. For Thoma Bravo, the $11 billion deal will yield over $9 billion for its limited partners, over $7 billion above its cost. For more on Thoma Bravo:See our cover story on co-founder Orlando BravoAnd our original analysis of the Ellie Mae deal

Source: Forbes August 28, 2020 15:18 UTC