Silver Lake closes Fund IV at a record $10.3b

Silver Lake said that $10.3 billion is the largest amount ever raised for a technology investment-focused private equity fund.

The fund strategy will be to pursue large-scale private investments in companies within the technology, tech-enabled and related growth industries.

Asian investment by Silver Lake so far include e-commerce website Alibaba, Chinese interactive marketing solutions provider Allyes and network security equipment provider Hillstone Networks.

"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." said Susannah Carrier, managing director at Silver Lake.

Last year it was reported that Silver Lake would reduce fees for big-ticket LPs, with management fees as high as 1.5% for investments of less than $250 million, and as low as 1.375% for those that commit at least $500 million. The carry rate will remain at the industry standard of 20%.

Silver Lake charged all clients a flat 1.5% for the third fund, which raised around $9.3 billion in commitments in 2007. It had a net IRR of 16.76 percent as of the end of September 2012, according to the New Jersey Division of Investment.

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• Topics
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• Silver Lake
• Technology