The technology focused private equity firm Silver Lake Partners has raised US$10 billion in an effort to add on to its US$24.4 billion bid to make Dell Inc. private. The amount far exceeded its targets based on strong investor interest according to a person familiar with the transaction who declined to be named.
Silver Lake is trying to pull off the biggest leveraged buyout since 2008 in its participation with Michael Dell's consortium efforts to take Dell Corp back into private hands. The private equity fund started its fundraising efforts in 2012 targetting US$7.5 billion and is expected to wind up its activities by the end of this month. The gross internal rate of return of 27% with a net internal rate of return of 18% since its creation last year was Silver Lake's numbers in 2012.
Silver Lake declined to comment on the reports provided by the anonymous sources told to Reuters.
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