Silver Lake, the partner of Michael Dell in a $24.4 billion deal to take Dell Inc private, said on Thursday it had raised $10.3 billion from investors for its latest private equity fund, the largest of its kind to focus on technology. The successful fundraising indicates confidence from investors in the takeover firm. The fund, Silver Lake Partners IV, started fundraising last year with a target of $7.5 billion. Reuters reported last month that Silver Lake would exceed that and raise some $10 billion on strong demand."We received strong investor demand for this fund and are deeply gratified by the confidence in Silver Lake demonstrated by our limited partners, many of whom have been long-term investors with us," the firm's managing partners Jim Davidson, Egon Durban, Ken Hao, Mike Bingle and Greg Mondre, said in a statement.For the first time in Silver Lake's history, the majority of the investors in the fund were based outside the United States, with a big inflow of money coming from Asia and the Middle East, according to a person familiar with the matter.All the top ten investors by capital that participated in Silver Lake's previous fund also made commitments to the latest fund. Some $300 million was committed to the fund by Silver Lake fund managers and entities affiliated with them, the person said.
Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL fell by 0.14% or $-0.02/share to $13.95. In the past year, the shares have traded as low as $8.69 and as high as $16.61. On average, 31917700 shares of DELL exchange hands on a given day and today's volume is recorded at 14681563.
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