FORTUNE -- Ajay Shah will not be a major part of the future at Silver Lake Sumeru, the middle-market tech investing platform he founded in 2007 for private equity giant Silver Lake.
Fortune has learned that Shah is transitioning into a part-time advisory role with Sumeru, although he will continue to activity manage the group's $1.1 billion debut fund.
At issue is the next fund, for which Sumeru has still not settled on a senior management structure. Limited partners originally had expected fundraising to kick off last year, and then were told that it would occur in early January. As of now, however, things remain on hold until Shah's replacement (or replacements) get sorted out.
Bloomberg had reported last fall that Shah's position may change, but no final decisions had been reached at the time.
Prior to joining Silver Lake, Shah had founded his own middle-market private equity firm called Shah Capital Partners. He also founded Smart Modular Technologies, which went public and was later sold to Solectron Corp. for over $2 billion.
Silver Lake Sumeru's first fund still has some dry powder to do new deals, and reported a 10.4% internal rate of return (IRR) through last June, according to CalPERS.
A Silver Lake spokesman declined to comment for this story.
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Silver Lake discloses $350 million "co-investment" on Dell.
FORTUNE -- It seems that Carl Icahn may not be the only one who thinks Michael Dell got a bargain by agreeing to buy his eponymous company for $24.9 billion.
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The long Dell saga nears its conclusion.
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FORTUNE -- Ever since Michael Dell first offered to take Dell Inc. (DELL) private, certain people have come out in knee-jerk opposition. "He must know something the rest of us don't," they argue, leading to accusations that Dell is trying to "steal" the company he founded nearly 30 years ago.
First we heard this complaint from longtime Dell stockholders. Then from relative newcomer MOREDan Primack - Aug 16, 2013 1:24 PM ET
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FORTUNE -- The Dell (DELL) buyout seems to have been dragging on forever, but it has a long ways to go before calling the folks at Guinness.
From what I can tell, the longest formal buyout process of all time belongs to Bain Capital and Thomas H. Lee Partners' pursuit of Clear Channel Communications.
In that case, Clear Channel announced on Nov. 14, 2006 that it MOREDan Primack - Aug 5, 2013 1:27 PM ET
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FORTUNE -- Michael Dell and Carl Icahn finally have something in common: They are annoyed with Dell Inc.'s special committee.
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Michael Dell and Silver Lake Partners increase their offer to $13.75 per share. But there's a catch.
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Michael Dell hasn't won or lost. Yet.
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Don't expect Michael Dell to raise his price.
FORTUNE -- There are multiple reports out this afternoon that Dell Inc.'s (DELL) special committee may delay Thursday's scheduled shareholder vote on the $24.4 billion buyout proposal from Michael Dell and private equity firm Silver Lake.
Here is how Bloomberg explained the situation:
Adjourning the vote would give buyers Dell and Silver Lake Management LLC time to boost the bid or declare the current offer of MOREDan Primack - Jul 16, 2013 4:44 PM ET
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