Cristóbal Conde, president and chief executive of SunGard Data Systems, said he gave himself too much credit when he was in charge of the US software and IT services group while it was a public company. He used to think he was good at balancing investors’ views. Three years of private equity ownership have convinced him he thought too short-term.

SunGard was acquired in August 2005 by seven private equity firms for $11.8bn (€8.2bn) in what was at the time the largest technology buyout. Silver Lake Partners led the consortium, which also included Bain Capital Partners, The Blackstone Group, Kohlberg Kravis Roberts, Providence Equity Partners, TPG and Goldman Sachs’ private equity arm.