Silver Lake Readies Tech. Lending Fund

Mar 16 2012 | 8:00am ET

Silver Lake Partners plans to raise $75 million for a new primary lending fund focused on technology companies.

The new Silver Lake Waterman fund will lend between $5 million and $25 million to late-stage pre-initial public offering companies, the private equity firm said in a Securities and Exchange Commission filing. The vehicle will be managed by Rick Stubblefield and Shawn O'Neill, recent hires from venture capital fund Lighthouse Capital Partners and boutique investment bank Bandon Partners, respectively.

In addition to the $75 million it hopes to raise, San Francisco-based Silver Lake Waterman could get twice as much from the U.S. Small Business Administration, Fortune reports.

Silver Lake Waterman plans to lend to well-established technology companies needing additional capital but not wanting to sell any additional equity in advance of an IPO.

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