Silver Lake has announced completion of a $10.3 billion fund, roughly 37 percent larger than its original target of $7.5 billion.
Dubbed the Silver Lake Partners IV fund, the company is touting it as the “the largest amount ever raised for a technology investment-focused private equity fund.” The firm’s previous fund, Silver Lake Partners III, raised $9.6 billion before launching in 2007.
The firm now manages over $23 billion in combined assets. Companies it has invested in bring in roughly $30 billion in annual revenue.
Silver Lake’s managing partners (Mike Bingle, Jim Davidson, Egon Durban, Ken Hao, and Greg Mondre) said in a note:
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. We appreciate the continued support of our investors and welcome new investors in the fund.
Silver Lake is currently in the midst of a bid to take PC maker Dell private. Dell accepted an offer from Silver Lake and its own founder Michael Dell. Carl Icahn and Blackstone are believed to be prepping a bid that could beat the duo’s $24.4 billion offer.
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