Silver Lake closes global tech fund on $10.3bn

The vehicle, Silver Lake Partners IV, is thought to be the largest ever raised for a tech-focused private equity fund. Capital commitments far exceed the original $7.5bn target.

Silver Lake is based in the US but also invests in Europe. The firm's European investments include the acquisition of a majority stake in German recycled plastic processor friedola Tech from WHEB Partners; the €1bn SBO of travel payment service provider Global Blue from Equistone; and the sale of Skype to Microsoft, which saw the investor reap a $2.9bn windfall. 

The GP now reports in excess of $23bn in combined assets under management and committed capital. The investor has recently been involved in the private takeover offer for Dell.

Investments
The fund will invest in the global technology industry. Sub-verticals of the technology sector including semiconductors, cloud computing, IT infrastructure, tech-enabled financial markets, transaction processing, mobile communications and e-commerce will also be considered.

Investors
LP commitments account for $10bn, with the remaining capital injected by the GP and its affiliates. Public and corporate pension funds, sovereign wealth funds, endowments, foundations, funds-of-funds, family offices and high-net-worth individuals have committed to the vehicle.

The majority of investors are believed to be based outside of the US.

People
Mike Bingle, Jim Davidson, Egon Durban, Ken Hao and Greg Mondre are managing partners at Silver Lake.

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