Dyal Capital Partners acquired a minority stake in Silver Lake, the firm announced Tuesday.
Dyal, a unit of Neuberger Berman that buys stakes in private equity and hedge funds, bought a passive, non-voting stake of less than 10 percent, the firm said.
Silver Lake will use the proceeds to fund growth initiatives and strengthen its global investment capabilities, the firm said.
Last year, Dyal bought a stake in Vista Equity Partners. The firm is raising its third fund targeting $2.5 billion.
The California Public Employees’ Retirement System also acquired a stake in Silver Lake, but sold it down in recent years.
Evercore worked as financial advisor on the transaction.
Photo: Jim Davidson, Co-Founder and Chairman of Silver Lake, speaks at a panel discussion “Private Equity: Where Risk Meets Opportunity” at the 2009 Milken Institute Global Conference in Beverly Hills, California April 28, 2009. REUTERS/Fred Prouser