Software News and Commentary

Recent News and Commentary on Software

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  PE firms want software deals, but lenders don’t want to fund them (June 16, 2026)

  Big lenders have pulled back from financing software buyouts amid investor concerns about AI’s threat to the sector.

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  Software’s flat-rate era is ending (June 12, 2026)

  Q1 venture activity in SaaS signals investors are embracing the pricing model shift.

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  Software companies need more than strong revenue to secure private credit loans (May 18, 2026)

  Lenders are growing more selective about the deals they back, which means stricter underwriting and requirements to demonstrate real earnings.

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  Secondary buyers looking for software bargains will be left disappointed (May 12, 2026)

  They’re selective about software assets amid AI fears, according to two of the largest buyers in the market.

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  OpenAI unveils PE-backed joint venture to accelerate AI adoption (May 11, 2026)

  The move comes as the evolution of AI is rewriting the playbook for PE firms across industries.

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  Europe’s leveraged loan borrowers shrink 2028 maturity wall, but challenges loom (April 28, 2026)

  A sizeable portion of debt remains from the buyout boom of 2021.

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  Orlando Bravo: Now’s the time to buy software amid SaaS-pocalypse gloom (April 15, 2026)

  Thoma Bravo founder is on the lookout for software companies that have been punished by the public markets.

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  AI agents are winning by selling workflows (April 9, 2026)

  Startups are making a $24B case for pricing AI based on outcomes.

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  A big week for fundraising has got opportunistic lenders excited (April 9, 2026)

  An impending debt maturity wave and growing AI fears have led many to believe that—finally—the credit cycle is turning.

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  AI headwinds persist for software firms, but European direct lenders find shelter (March 26, 2026)

  Europe’s market has been more sheltered from the AI-driven shock than its US counterpart.

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  Private credit is bruised, not broken (March 25, 2026)

  LPs poured in $234.1 billion last year, the most capital of any asset class outside PE.

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  Europe’s direct lenders plot cautious moves as market enters new phase (March 23, 2026)

  Discussions at the SuperReturn Private Credit Europe event highlighted a more cautious outlook for the asset class and M&A activity, market participants say private credit is now entering a more complex phase, with investors becoming more selective.

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  European private credit defaults in spotlight as Partners Group’s Meister sounds warning (March 13, 2026)

  The chair of Partners Group says private credit defaults could double in the next few years.

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  Q&A: Francisco Partners on the software sell-off (February 26, 2026)

  AI is a warning to incumbent software providers to “do better,” says CEO Dipanjan “DJ” Deb.

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  Quick Take: European loan prices sink to lowest level since October 2023 (February 26, 2026)

  Tuesday’s total return was negative 0.20%, the largest single-day loss since April 2025.

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  Perforce Software loan plunges, eyes on second-lien refi (February 18, 2026)

  The TLB’s distressed trading levels suggest that the second-lien facility may be unlikely to complete a refinancing at its upcoming 2027 maturity.

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  PitchBook Analyst Note: Private Equity’s Exposure to the Software Reckoning (February 17, 2026)

  This analyst note examines whether US private equity will double down on software amid valuation compression and AI disruption, assessing risks, underwriting shifts, and potential opportunity in the reset.

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  Software exposure material in CLOs but AI risk not uniform – Moody’s (February 10, 2026)

  The agency says software providers are one of the largest industry segments among the portfolio assets held by CLOs it rates.