Allvue Systems Holdings, which provides cloud-based software solutions for investment managers, postponed its IPO on Wednesday, citing adverse market conditions. It had filed to raise $275 million by offering 15.3 million shares at a price range of $17 to $19.
Allvue provides technology to investment managers in the private capital and credit markets, pairing cloud-based software solutions with capabilities across multiple asset classes. Its software solutions serve the entire investment lifecycle and are integrated to provide a comprehensive product suite. The company serves investment managers of all sizes worldwide, including general partners, limited partners, fund administrators, and banks. As of June 30, 2021, Allvue had approximately 400 investment manager clients, including 20 of the top 25 collateralized loan obligation managers by AUM, approximately 147 private equity and venture capital firms, over 23 fund administrators, and over 15 global commercial banks.
The Coral Gables, FL-based company was founded in 2007 and booked $120 million in revenue for the 12 months ended June 30, 2021. It had planned to list on the NYSE under the symbol ALVU. Goldman Sachs, Barclays, Credit Suisse, Deutsche Bank, RBC Capital Markets, and Truist Securities were set to be the joint bookrunners on the deal.
