Silver Lake in second venture debt fund

The private equity firm has launched fundraising for the Silver Lake Waterman Fund II. The series was set up in 2012 to lend money to late-stage pre-IPO tech companies.  

Silver Lake Partners, the US private equity firm, posted a form D with the Securities and Exchange Commission for its Silver Lake Waterman Fund II, a venture debt tech fund, on 19 June. It’s not clear yet how much money the manager is targeting for the vehicle.

The first fund in this series, Silver Lake Waterman Fund I, raised $92.4 million according to an SEC filing in December 2012. Previous reports also suggested the first fund would raise more capital though the Small Business Administration, which would give it $150 million in total purchasing power. Silver Lake Waterman focuses on providing growth capital to later-stage growth companies in the technology and technology-related industries, according to the firm’s website.

Shawn O’Neill and Richard Stubblefield, both managing directors and co-group heads of Waterman, are listed as executive officers on the fund. Egon Durban, managing director and partner at Silver Lake, and James Davidson, a co-founder of the firm, are also named executive officers. All four are based in Menlo Park, California.

Silver Lake is a technology-focused private equity firm headquartered in Menlo Park. It has additional offices in San Mateo and Cupertino in California, as well as in New York. Silver Lake also has international outposts in London, Hong Kong, Shanghai and Tokyo. The firm has $26 billion in assets under management.