Private equity firm Silver Lake has confirmed it has raised more than $650m for its first growth fund focused on cleantech companies, which will be invested in partnership with Soros Fund Management.
Silver Lake Kraftwerk Fund has received $653.6m of commitments from 82 LPs towards its $750m target according to a document filed with the US Securities and Exchange Commission.
The fund, which registered its first commitment in November 2011, initially targeted $1.25bn.
Dow Jones previously reported that the vehicle had raised $675m, citing a person familiar with the situation.
VC Prive, Credit Suisse Securities and Sustainable Development Capital are listed as placement agents in the filing and are currently owed sales commissions of $2.4m.
Silver Lake’s Kraftwerk strategy is focused on making growth investments in the energy and resource sectors including energy efficiency, waste reduction and renewable energy technologies.
The fund has made two investments to date, having backed recycled lightweight plastics specialist friedolaTech and renewable energy systems provider SolarCity.
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