PRINT THIS PAGE Silver Lake Sumeru closes on $1.1bn07/05/2008. Source: AltAssets. 
Silver Lake has closed Silver Lake Sumeru, the firm's inaugural mid-market investment fund, on $1.1bn. Silver Lake Sumeru invests in mid-market technology and technology-enabled companies operating in sectors including hardware, software, internet and technology-oriented services. The fund also seeks opportunities involving divisional spin-off and take-private transactions.
Investors in Silver Lake Sumeru include public and corporate pension funds, endowments, foundations, funds of funds and individuals including a number of technology company executives, according to the firm.
Ajay Shah, the Silver Lake managing director who heads the Silver Lake Sumeru team, said, 'Silver Lake has gained a well-deserved reputation as the partner of choice among the world's leading technology management teams, and Silver Lake Sumeru is now able to build on that reputation as we look for opportunities to assist attractive middle-market technology companies in undergoing the transformation required to reach the next level of growth and profitability.'
In April 2008, Silver Lake Sumeru provided financing to support the merger of video and audio conferencing businesses AVI and SPL.
Last year, Silver Lake closed its latest private equity fund, Silver Lake Partners III, on $9.3bn.
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