It's official: Silver Lake targets $7.5 billionJuly 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).
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