UAE's Mubadala Investment Company, one of the world’s largest global investors, and Silver Lake, the global leader in technology investing, announced boosting their existing relationship by establishing a long-term investment strategy led by Silver Lake and supported by a $2 billion investment from Mubadala.
The new strategy has a unique 25-year deployment lifecycle and is designed to invest flexibly across investment structures, geographies and industries.
Mubadala has also acquired a minority equity interest in Silver Lake. The two firms have already worked collaboratively across investments such as Endeavor, Waymo (Alphabet’s driverless technology company) and India-based Jio Platforms, state news agency WAM reported.
"We are extremely pleased to deepen our partnership with the visionary team at Mubadala, firmly rooted in our orientation as a long-term investor in the most iconic and enduring businesses," said Silver Lake Co-CEOs Egon Durban and Greg Mondre, on behalf of the firm’s Managing Partners.
"Mubadala’s support has enabled us to launch an innovative strategy that is unprecedented in its multi-decade time horizon, underscoring our long-term commitment to our portfolio companies and providing tremendous strategic advantages as we seek to generate exceptional results for many years to come" he added.
Mubadala has acquired the minority equity interest in Silver Lake from Dyal Capital Partners through a secondary transaction. Dyal, a unit of Neuberger Berman, acquired a passive, non-voting equity interest of less than 10 percent in Silver Lake in 2016 and will retain roughly half of its original investment.
"Silver Lake is a top performer for Dyal, having innovated, evolved and expanded to prudently grow its assets under management from $23 billion when we first acquired our stake to more than $60 billion today," said Michael Rees, Managing Director and Head of Dyal Capital Partners.