Jim Coulter reflects on the legacy of his cofounder, David Bonderman, while asking whether private equity still makes room for unorthodox investors like him today.

Hugh MacArthur, chairman of our global private equity practice, sat down with Robert F. Smith, founder, chairman and CEO of Vista Equity Partners during the Global Alts 2025 conference in Miami, to discuss what Smith describes as the “massive implications” of agentic AI. Smith also described how some of Vista’s portfolio companies are using generative AI to create new products for their customers, how the AI infrastructure build-out may evolve, and other trends sweeping over the enterprise software market.