Thoma Cressey Bravo manages three private equity funds with investments in such sectors as business services, software, health care, education, and financial services. Founded in 1998 as Thoma Cressey Equity Partners after splitting with Golder Thoma Cressey Rauner (GTCR Golder Rauner), the firm has some $2 billion in private equity capital. It changed its name in 2007 to include managing partner Orlando Bravo. Also that year the firm opened two funds, one to focus on software and the other on health care deals, in a prelude to splitting the company. Bryan Cressey left in 2008 to form Cressey & Company, which invests in health care companies. The newly formed Thoma Bravo focuses on software.