Silver Lake Set to Raise $10 Billion for Biggest Technology Fund

Silver Lake Partners plans to raise $10 billion for the biggest technology buyout fund, setting the stage for $20 billion plus leveraged buyouts in tech sector, reports Bloomberg. Silver Lake firm's previous two investment pools raised a combined $5.9 billion.

The minimum investment in Silver Lake's third fund is $10 million, according to the SEC document. 

Silver Lake has announced $31 billion in acquisitions by itself or with partners since 2005, including SunGard Data Systems Inc. for $11.4 billion with other firms in August 2005.

The biggest technology buyout was the $17.6 billion acquisition of Freescale Semiconductor Inc. last year by a group of firms led by Blackstone Group LP, which topped a bid by Silver Lake and others.

Blackstone is raising $20 billion for the biggest buyout fund ever. Providence Equity Partners Inc. has raised $12 billion for media and telecommunication buyouts.

The total value of announced private equity buyout deals hit a record $700 billion in 2006, more than double the record set in 2005 and 20 times bigger than in 1996, according to Thomson Financial data.

Private Equity Intelligence's 2007 Global Fundraising Review report estimates that the momentum is still there for the PE funds to raise $450 – 500 billion of new funds in 2007

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