Dyal Capital Partners took a minority equity stake in technology-specialist private equity firm Silver Lake.
The passive, non-voting interest is less than 10%, Silver Lake said in a news release, adding that terms of the deal are not being announced.
Silver Lake said in the release that it will use the proceeds from the sale for “new growth initiatives and to extend the strength of its global investing capabilities.”
Silver Lake has about $24 billion in invested and committed capital, which it invests in technology and technology-enabled businesses such as Alibaba Group, Dell, GoDaddy, Motorola Solutions and Symantec.
Dyal Capital is a private equity subsidiary of Neuberger Berman that focuses on the acquisition of minority equity stakes in money management companies. The Silver Lake acquisition was made by Dyal Capital Partners III. Since 2011, Dyal Capital has notched up 17 transactions across the fund family; assets in the three Dyal Capital funds total about $6 billion.
Alexander Samuelson, a Neuberger Berman spokesman, confirmed the investment by Dyal Capital but declined to provide further comment.