Former Morgan Stanley Executives Jeff Levin and Kunal Soni Join as Partners

Levin Named Head of Thoma Bravo Credit

MIAMI and NEW YORK, Oct. 21, 2025 /PRNewswire/ -- Thoma Bravo, a leading software investment firm, today announced that Jeff Levin and Kunal Soni have joined the firm as partners on the Thoma Bravo Credit platform. Levin has also been named head of the platform.

Together with the firm's investors, Thoma Bravo Credit has invested over $25 billion across more than 100 transactions since its inception in 2017. Earlier this year, it successfully closed Thoma Bravo Credit Fund III. Levin and Soni bring decades of experience leading and scaling private credit platforms. They will help drive the next phase of Thoma Bravo Credit's growth and their addition significantly expands the firm's origination, structuring, and underwriting capabilities. With deeper credit expertise and greater execution capacity, Thoma Bravo Credit can offer investors broader access to attractive private-credit opportunities while providing borrowers with the flexible, long-term capital they seek to accelerate growth.

Levin was a founding member of Morgan Stanley Investment Management's Private Credit business and was most recently Co-Head of its North America Private Credit platform. In his role, he served as Portfolio Manager, Head of U.S. Direct Lending, and Chair of the Investment Committee for the U.S. Direct Lending funds. He previously served as a Partner and Managing Director at The Carlyle Group (NASDAQ:CG), where he served as President of Carlyle's BDCs and as a member of the Investment Committee for their Direct Lending platform.

Soni was most recently the Head of the Western Region and Technology Lending for Morgan Stanley Investment Management's Private Credit business, where he served as a member of the Investment Committee and focused on originating and executing investment opportunities. Prior to joining Morgan Stanley, Soni was Head of the Western Region for Carlyle's Direct Lending platform.

"Private credit continues to play an increasingly important role in supporting growing businesses and meeting investor demand for income and diversification," said Orlando Bravo, a Founder and Managing Partner at Thoma Bravo. "Jeff and Kunal's leadership strengthens our ability to deliver broader services and compelling investment opportunities to our investors, while expanding our capacity to provide companies with the flexible capital they need to grow and thrive. These appointments reflect our commitment to building a leading, scaled private credit platform positioned to capture attractive opportunities across market cycles."

"Thoma Bravo Credit has a solid foundation built on discipline, investor alignment, and consistently strong performance," said Jeff Levin. "Our goal now is to expand the breadth and depth of what we offer so investors can access a broader range of high-quality credit opportunities aligned with their investment objectives, while borrowers can benefit from enhanced expertise and long-term, growth-enabling capital."

"I'm excited to join Thoma Bravo Credit at such a dynamic time for private credit," said Kunal Soni. "The market continues to expand and evolve, creating opportunities for platforms with the scale and discipline to meet growing demand. With Thoma Bravo's reach and resources, we are positioned to deliver meaningful value to both investors and borrowers."

About Thoma Bravo

Thoma Bravo is one of the largest software-focused investors in the world, with approximately $181 billion in assets under management as of June 30, 2025. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo's deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in approximately 555 companies representing approximately $285 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York, and San Francisco. For more information, visit Thoma Bravo's website at www.thomabravo.com.

Contacts

Thoma Bravo

Megan Frank

+1.212.731.4778

mfrank@thomabravo.com

FGS Global

Akash Lodh

ThomaBravo-US@fgsglobal.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/thoma-bravo-announces-key-appointments-to-grow-private-credit-platform-302589555.html

SOURCE Thoma Bravo

Thoma Bravo Announces Key Appointments to Grow Private Credit Platform