Blackstone Growth is investing in Dynamo Software, a cloud software provider for the alternative investment management industry. Blackstone is joining existing investor Francisco Partners which is also reinvesting in the company.

Dynamo’s workflow software helps customer relationship management, deal management, portfolio monitoring, investor reporting and accounting and provides value to general partners and limited partners. The company works with private equity and venture capital funds, hedge funds, real estate investment firms, endowments and pensions.

“We see the significant tailwinds behind the sector, which we believe will continue to increase the size and complexity of the individual firms and drive the continued formation of new investment funds,” said Vincent Letteri and Jonathan Murphy at Blackstone.

Raymond James and Kirkland & Ellis LLP are advising Dynamo and Francisco Partners. Bank of America sand Weil Gotshal & Manges LLP are advising Blackstone.