Silver Lake Raises $9.3 Billion

Silver Lake Partners has closed its third tech-focused buyout fund with $9.3 billion in committed capital. LBO Wire first reported on the news this morning, and peHUB has since confirmed it. No comment yet from the firm.

Silver Lake began fundraising back in late 2006 with a $7.5 billion target, which was more than twice the $3.6 billion it raised for its second fund in 2004. It also circulated offering documents for a debut middle-market fund, which has not yet closed despite having already busted through its $750 million target.

Like most buyout firms, Silver Lake has been relatively quiet of late. It hasn’t announced a new deal yet in 2008, although did say that it was selling a 10% firm ownership position to the California Public Employees’ Retirement System (CalPERS). That deal valued Silver Lake at around $2.75 billion, and included provisions whereby CalPERS would continue to serve as a limited partner in Silver Lake funds.

Current Silver Lake portfolio companies include Avaya, Flextronics, Nasdaq, Sabre, Serena and SunGard. Past investments include Ameritrade, Business Objects, Instinet, Island, Network General and Seagate.

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