(updated with correction)
Silver Lake closed Silver Lake Partners IV at $10.3 billion, confirmed Jason Golz, a spokesman for Silver Lake.
The close represents the largest technology investment-focused private equity fund in the industry, according to private equity research firm PitchBook.
The amount represents $10 billion from limited partners and $300 million from the general partner. The total capital raised exceeds the fund's fundraising target of $7.5 billion.
The fund is expected to invest in companies in the global technology sector including everything from semiconductors and cloud computing to tech-enabled financial markets and e-commerce. Should Silver Lake's leveraged buyout of Dell Inc. close, capital would come from this new fund as well as Silver Lake Partners III, according to documents filed by Dell with the Securities and Exchange Commission.
Investors in the fund include the $162.3 billion Florida State Board of Administration, $112 billion Texas Teacher Retirement System, $72.5 billion New Jersey Division of Investment, $42 billion Los Angeles County Employees' Retirement Association and $8 billion University of Michigan.