Dubbed Silver Lake Sumeru, the new limited partnership will invest in middle-market technology and technology-enabled companies, focusing on sectors including hardware, software, Internet and services. The new fund has already done a number of deals, acquiring a majority stake in Mobile Messenger in October 2007 and buying ChoicePoint Inc.'s investigative analysis and visualization software technology business, i2 Inc., for $185 million in cash last month.
Silver Lake Sumeru gives the Menlo Park, Calif.-based firm a total of $10.4 billion in new equity in just the last six months. The private equity shop recently closed Silver Lake Partners III, which has $9.3 billion of equity capital commitments for large-cap investments in technology businesses.
At The Deal's Fifth Annual Private Capital Symposium on May 14, the climate for deals in the middle market will be the subject of a panel discussion. With the effects of tight credit starting to spill into midmarket deals, the panelists will consider the current climate, as well as key issues such as where the credit crunch is biting hardest and how middle-market lenders are reacting to the contraction of the debt markets.
See the full story later in The Daily Deal and TheDeal.com. - George White
See Silver Lake press release
See Dealscape post on Silver Lake Fund III
See Mobile Messenger story on TheDeal.com
See i2 story on TheDeal.com
See Video: Middle-market matters
See Dealscape post on the middle market
See more on the Private Equity Symposium
