The California Public Employees’ Retirement System (CalPERS) has purchased a minority stake in private equity firm Silver Lake.
Under the agreement, CalPERS has acquired a 9.9% stake in Silver Lake Group and related entities that own and direct Silver Lake and oversee all of its investment activities.
“The CalPERS investment and strategic partnership with us provide tremendous benefit to Silver Lake and our limited partners by brining important long-term funding that supports expansion of our technology investment leadership,” says Glenn Hutchins, co-founder and co-chief executive of Silver Lake.
The private equity firm—based in Menlo Park, California—invests in the technology industry. Its portfolio includes or has included companies such as Ameritrade, Business Objects, Flextronics, Instinet, MCI, Seagate Technology and SunGard Data Systems.
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