Silver Lake said Thursday it closed its latest large-cap technology investment fund at $10.3 billion. The target for Silver Lake Partners IV was $7.5 billion. The firm, which is bidding for Dell, said it received $10 billion in LP capital commitments. The $10.3 billion is the largest amount ever raised for technology investment focused PE fund, Silver Lake said.
Silver Lake, the global leader in technology investing, announced today the final closing of Silver Lake Partners IV, its latest large-cap technology investment fund. The firm accepted limited partner capital commitments up to its cap of $10 billion, surpassing its fundraising target of $7.5 billion. In aggregate with the general partner and affiliates, the $10.3 billion in total commitments for Silver Lake Partners IV is the largest amount ever raised for a technology investment-focused private equity fund.
“We received strong investor demand for this fund and are deeply gratified by the confidence in Silver Lake demonstrated by our limited partners, many of whom have been long-term investors with us,” said the firm’s Managing Partners. “We appreciate the continued support of our investors and welcome new investors in the fund.” Silver Lake’s Managing Partners are Mike Bingle, Jim Davidson, Egon Durban, Ken Hao, and Greg Mondre.
“Closing our Silver Lake Partners IV fund extends opportunities to strategically and selectively invest in market leaders in the global technology industry,” the Managing Partners added, “and to partner with management teams in a differentiated way, leveraging our expertise and range of international relationships developed since our founding fourteen years ago.” Silver Lake now manages over $23 billion in combined assets under management and committed capital.
Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. The firm invests in the broad value chain and sub-verticals of the global technology sector, from semiconductors, cloud computing, and IT infrastructure to tech-enabled financial markets, transaction processing, mobile communications, and e-commerce. Portfolio companies in which Silver Lake invests collectively generate approximately $30 billion in annual revenue and employ 97,000 people around the world.
“We are honored to have a large group of investors who have entrusted their capital with Silver Lake,” said Susannah Carrier, Managing Director and head of Silver Lake’s fundraising and investor relations. “Our strategic discipline, deep technology expertise, and commitment to the standards of excellence and alignment of interests expected by our limited partners contributed to our fundraising success and to the continued development of a strong investment partnership.” Ms. Carrier added: “We have attracted both a large percentage of our existing investors as well as strategic new investors to our latest fund, and we will endeavor to earn their continued support by maintaining our focus on investment performance.”
Investors in Silver Lake Partners IV and Silver Lake’s other funds include public and corporate pension funds, sovereign wealth funds, endowments, foundations, funds of funds, family offices and individual investors.
About Silver Lake
Silver Lake is the global leader in private investments in technology and technology-enabled industries. Silver Lake invests with the strategic and operational insights of an experienced industry participant. The firm has approximately 100 investment and value creation professionals located in New York, Menlo Park, San Mateo, London, Hong Kong, Shanghai and Tokyo and manages over $23 billion. The Silver Lake Partners portfolio includes or has included technology and technology-enabled industry leaders such as Alibaba, Allyes, Ameritrade, Avago, Avaya, Business Objects, Flextronics, Gartner, Gerson Lehrman Group, Instinet, Intelsat, Interactive Data Corporation, IPC Systems, MCI, Mercury Payment Systems, MultiPlan, the NASDAQ OMX Group, NetScout, NXP, Sabre, Seagate Technology, Serena Software, Skype, Spreadtrum, SunGard Data Systems, UGS, Vantage Data Centers, and William Morris Endeavor. For more information about Silver Lake and its entire portfolio, please visit www.silverlake.com.