Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

It's official: Silver Lake targets $7.5 billion

July 9, 2012: 12:33 PM ET

Skype investor returns to market.

FORTUNE -- Silver Lake Partners is targeting $7.5 billion for its fourth general fund, according to a regulatory filing. This is in line with earlier press reports, which suggest that the tech-focused private equity firm may actually seek upwards of $10 billion.

Silver Lake currently is investing out of a $9.4 billion fund raised in early 2007, before the financial crisis began. According to the Washington State Investment Board, that fund was around 80% called down through year-end 2011, with a 1.4x value multiple and a 19.59% internal rate of return (IRR).

Bloomberg previously reported that Silver Lake co-founders Glenn Hutchins, David Roux and Jim Davidson would all cut back their ownership stakes in the new fund, with Hutchins and Roux to "play less active roles at the firm." The new regulatory filing lists all three men as managing partners, but also includes four managing partners not listed on the 2007 filing: Michael Bingle, Egon Durban, Ken Hao and Greg Mondre.

Chief financial officer Andrew Wagner and chief legal officer Karen King also are listed. Placement agents on the fund include Credit Suisse (CS), Merrill Lynch (BAC), J.P. Morgan (JPM) and UBS (UBS).

Sign up for Dan's daily email newsletter on deals and deal-makers: GetTermSheet.com

Posted in:
Join the Conversation
About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

Email a Tip | @danprimack | RSS
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.