Among them, Kaseya's $3.3 billion private credit agreement to support the purchase of Datto is possibly the market's marquee MSP software transaction involving private credit loans. The financing commitment also included a $200 million delayed-draw term facility and a $200 million revolver. The lenders are Golub Capital, Blackstone Credit, Ares Management Credit Funds, Owl Rock Capital, Oak Hill Advisors, and Carlyle Global Credit. Kaseya is an investment of Insight Venture. Prior to Datto being acquired by Kaseya in 2022, Datto reported adjusted EBITDA margins of 28% with subscription (recurring) revenue as 93% of total revenues as of year-end 2021, a 10-K filing dated Dec. 31, 2023, showed. In another deal, SailPoint Technologies was acquired by Thoma Bravo in 2022 for $6.9 billion with a $1.6 billion loan led by Blue Owl, Golub Capital, Blackstone, and BlackRock.