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Company name | Silver Lake | Company type | Private, Limited liability company | Industry | Private equity, Technology | Founded | 1999 | Founder(s) | James Davidson, Glenn Hutchins, Roger McNamee, David Roux | Headquarters | Menlo Park, California, United States | Products | Leveraged buyout, Growth capital | Total assets | $13 billion | Employees | 75+ |
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Silver Lake is an US-based private equity firm focused on leveraged buyout and growth capital investments in technology, technology-enabled and related industries. Founded in 1999, the firm is a leading investment firm in the technology sector and among its most notable investments are Avaya, Sabre Holdings, UGS Corp., Skype, Seagate Technology and Instinet.
Silver Lake operates through three primary businesses, all focused on technology investments:
* Silver Lake Partners make private equity investments in large cap technology companies. Silver Lake Partners was the firm's original business founded by Glenn Hutchins, Dave Roux and Jim Davidson and comprises the bulk of the firm's assets under management.
* Silver Lake Sumeru � focuses on technology investments in middle-market companies. The Sumeru business was formerly known as Shah Capital founded by Ajay Shah.
* Silver Lake Financial a credit focused business invests in distressed debt securities in companies in the technology sector.
The firm, which is headquartered on Sand Hill Road in Menlo Park, California has a global presence with over 75 investment professionals across offices in New York City, London and Hong Kong.
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Skype |
2009 |
Silver Lake, Andreessen Horowitz and the Canada Pension Plan Investment Board announce the acquisition of 65% of Skype for $1.9 billion from E-Bay, valuing the business at $2.75 billion |
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Avaya |
2007 |
Silver Lake and TPG Capital completed an $8.2 billion leveraged buyout of the enterprise telephony and call center technology company that was formerly a unit of Lucent Technologies |
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Sabre Holdings |
2006 |
Silver Lake and TPG Capital announced a deal to buy Sabre Holdings, which operates Travelocity, Sabre Travel Network and Sabre Airline Solutions, for approximately $4.3 billion in cash, plus the assumption of $550 million in debt. Earlier in the year, Blackstone acquired Sabre's chief competitor Travelport. |
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NXP Semiconductors |
2006 |
In August 2006, a consortium of Silver Lake, Kohlberg Kravis Roberts and AlpInvest Partners acquired a controlling 80.1% share of semiconductors unit of Philips for -6.4 billion. The new company, based in the Netherlands, was renamed NXP Semiconductors. |
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SunGard |
2006 |
SunGard was acquired by a consortium of seven private equity investment firms in a transaction valued at $11.3 billion. The partners in the acquisition were Silver Lake, which led the deal as well as Bain Capital, the Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts, Providence Equity Partners, and Texas Pacific Group. This represented the largest leveraged buyout completed since the takeover of RJR Nabisco at the end of the 1980s leveraged buyout boom. Also, at the time of its announcement, SunGard would be the largest buyout of a technology company in history, a distinction it would cede to the buyout of Freescale Semiconductor. The SunGard transaction is also notable in the number of firms involved in the transaction. The involvement of seven firms in the consortium was criticized by investors in private equity who considered cross-holdings among firms to be generally unattractive. |
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Avago Technologies |
2005 |
In 2005, the semiconductor division of Agilent was acquired by Silver Lake and Kohlberg Kravis Roberts, to form Avago Technologies, one of the largest privately held semiconductor companies in the world. In 2009, Avago completed a $650 million initial public offering. |
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Private equity and venture capital investment firms
Investment strategy | Venture * Growth * Mezzanine * Secondaries |
History | History of private equity and venture capital * Early history of private equity * Private equity in the 1980s * Private equity in the 1990s * Private equity in the 2000s |
Investors | Institutional Investors * Pension funds * Insurance companies * Endowments * Investment Banks * Commercial Banks * Fund of funds * High net worth individuals * Angel investors * Family offices * Sovereign wealth funds |