At the time of its launch in 1999, Silver Lake Partners laid claim to being the first buyout firm focused on making large-scale investments in technology companies. By leading consortia containing co-investors such as Texas Pacific Group, Kohlberg Kravis Roberts and Bain Capital on milestone deals Seagate and SunGard, Silver Lake has built a strong presence within its niche focus.
The firm was founded by Jim Davidson, Glenn Hutchins, David Roux and Roger McNamee. Prior to Silver Lake, Davidson headed up the technology investment banking activities of Hambrecht & Quist (now absorbed into JPMorgan), prior to which he was an attorney at San Francisco-based law firm Pillsbury, Madison & Sutro (now Pillsbury Winthrop).
New York-based Hutchins joined Thomas H. Lee Partners in 1985, where he became a managing director in 1988. He also spent five years prior to Silver Lake's creation at The Blackstone Group as managing director, general partner, and investment committee member.
Roux comes from an operations background, serving as CEO and president of software platform provider Liberate Technologies, as well as senior management positions at Oracle, Central Point Software, and Lotus. Before co-founding Silver Lake, he co-founded Integral Partners and managed funds at T. Rowe Price. In 2004, he co-founded media and entertainment-focused private equity firm Elevation Partners.
Last year, Silver Lake brought in former IBM chief financial officer John Joyce as a managing director and investment committee member. During his 30 years at IBM, Joyce's responsibilities included heading up IBM's high-tech services division, where he was involved in the sale of IBM's PC business to China's Lenovo, as well as being president of IBM Asia Pacific.
In March this year, Silver Lake announced the hiring of IBM veterans Juro Nakauchi and Samuelson Young as Asia-based special advisors. The firm also expanded into London during the summer of 2005, with founding principal and managing director Egon Durban spearheading the effort.
Jim Davidson: co-founder and managing director (Menlo Park)
Glenn Hutchins: co-founder and managing director (New York)
David Roux: co-founder and managing director (Menlo Park)
John Joyce: managing director
Egon Durban: founding principal and managing director (London)
Mike Bingle: managing director
Kenneth Hao: managing director
Greg Mondre: managing director
Hollie Moore: managing director
Alan Austin: managing director and COO
Yolande Jun: CFO
Karen King: general counsel
Kurt Lauk: special advisor (Europe)
Juro Nakauchi: special advisor (Japan)
Samuelson Young: special advisor (China)
SELECT LIMITED PARTNERS:
AIG Private Equity, Caisse de Depot et Placement du Quebec, California Public Employees' Retirement System, Commonfund Capital, Flag Capital, General Motors Asset Management, HarbourVest Partners, Lexington Partners, New York State Teachers‘ Retirement System, Ontario Teachers’ Pension Plan, Partners Group, University of Michigan endowment, Washington State Investment Board.
Silver Lake invests in mature technology companies. The firm acquires minority and control stakes via LBOs, take-privates, spinoffs, and carve-outs. To date, equity investments have typically been within the range $100 million to $500 million in businesses with enterprise values from $100 million to over $10 billion.
Instinet/Nasdaq: (April 2005, US): $1.9 billion buyout of electronic trading solutions provider alongside Nasdaq and Hellman & Friedman.
Serena Software: (November 2005, US): $1.2 billion take-private of change management software provider. Avago Technologies: (August 2005, Singapore): $2.7 billion carve-out of Agilent's semiconductor components supplier; co-invested alongside KKR.
SunGard Data Systems: (August 2005, US): $11.3 billion take-private of software and processing solutions provider, alongside co-investors Bain Capital, The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts, Providence Equity Partners, and Texas Pacific Group.
Thomson SA: (July 2004, France): $500 million PIPE deal to acquire a 7.5 percent stake in digital media services provider UGS PLM Solutions: (March 2004, US): carve-out of product lifecycle management solutions provider from EDS in a $2.1 billion deal alongside Bain Capital and Warburg Pincus. Flextronics: (March 2003, India): minority stake acquired through $200 million investment in electronics manufacturing services provider.
HEAD OFFICES:REGIONAL OFFICE:2725 Sand Hill Road, Suite 1509 West 57th Street, 25th Floor42 Berkeley SquareMenlo Park, CA 94025New York, NYLondon W1J 5AWTel: 650-233-8120Tel: 212-981-5600United KingdomFax: 650-233-8125Fax: 212-981-3535Tel: +44 207 409 5030