For purposes of this brochure, unless otherwise noted, the “Adviser” means each of (i) Silver Lake
Technology Management, L.L.C. (“Silver Lake Technology Management”); (ii) Silver Lake
Management Company III, L.L.C., Silver Lake Management Company IV, L.L.C., Silver Lake
Management Company V, L.L.C., Silver Lake Management Company VI, L.L.C., Silver Lake
Management Company VII, L.L.C., Silver Lake Management Company SPV-1, L.L.C., Silver
Lake Management Company SPV-2, L.L.C. and Silver Lake Management Company SPV-3,
L.L.C. (collectively, “Silver Lake Partners”); (iii) Silver Lake Alpine Management Company,
L.L.C. and Silver Lake Alpine Management Company II, L.L.C. (collectively “Silver Lake
Alpine”); (iv) Silver Lake Management Company LTC, L.L.C. (“Silver Lake Long Term
Capital”); (v) Silver Lake Waterman Management Company, L.L.C. and Silver Lake Waterman
Management Company III, L.L.C. (collectively “Silver Lake Waterman”); (vi) Silver Lake
Kraftwerk Management Company, L.L.C. (“Silver Lake Kraftwerk”); including (where the
context permits) their general partners and affiliates that manage investments for, provide advisory
services to, and/or receive Advisory Fees from the Funds (as defined below) (collectively the
“Advisers”). Such affiliates are controlled by, or under common control with, Silver Lake
Technology Management, but possess a substantial identity of personnel and/or equity owners
with Silver Lake Technology Management. Such affiliates are formed for tax, regulatory, or other
purposes in connection with the organization of the Funds (as defined below).
The Adviser provides investment management and/or investment supervisory services to
investment vehicles (the “Main Funds”) that are exempt from registration under the Investment
Company Act of 1940, as amended (the “1940 Act”) and whose securities are not registered under
the Securities Act of 1933, as amended (the “Securities Act”).
The Adviser from time to time establishes certain investment vehicles (herein referred to as “Side-
By-Side Co-Investment Vehicles,” and collectively with the Main Funds, as “Funds” and each
individually as a “Fund”) through which certain current and former employees, members, officers,
senior and special advisors, business relationships, and independent contractors of the Adviser
and/or their family members, officers and employees of the Adviser’s affiliates and/or their family
members, certain investors in the Main Funds and/or a Main Fund itself, or other persons close to
the firm invest alongside one or more Main Funds in one or more investment opportunities. Such
vehicles generally are contractually required, as a condition of investment, to purchase and exit
their investments in each investment opportunity at substantially the same time, and on
substantially the same terms, as the applicable Main Fund that is invested in that investment
opportunity.
The Adviser operates its business across five segments, consisting of:
(i) Silver Lake Partners, which primarily focuses on investments in large-scale companies
within the technology, technology-enabled, and related growth industries, using a broad
variety of investment types and transaction structures.
(ii) Silver Lake Alpine, which primarily focuses on non-control, downside-protected, privately
negotiated structured equity and debt investments in large-cap technology, technology-
enabled, and related growth companies globally.
(iii) Silver Lake Long Term Capital, which has a broad mandate to invest in, among other
things, technology related companies, industries other than technology, technology-
enabled and related growth industries, other investment funds (including venture funds,
real estate funds, infrastructure funds and other funds that do not generally compete with
Silver Lake Funds), and opportunistic investments with longer expected hold periods or
different return profiles or that are earlier stage than those targeted by Silver Lake Partners
and Silver Lake Alpine Funds. Silver Lake Long Term Capital will also invest in Side-by-
Side Co-Investment Vehicles and occasionally direct co-investment
with approvals as
necessary or appropriate.
(iv) Silver Lake Waterman, which primarily focuses on non-control, downside-protected
investments across a range of securities in late-stage growth companies in the technology,
technology-enabled and related growth industries.
(v) Silver Lake Kraftwerk, which has a portfolio of technology and technology-enabled growth
businesses that seek to drive efficiency across the operations, energy, and resources
industries. Silver Lake Kraftwerk Fund, L.P. (including its associated Side-By-Side Co-
Investment Vehicle) is not making any new investments other than follow-on investments.
The Adviser’s investment management and/or investment supervisory services consist of
investigating, identifying, and evaluating investment opportunities, structuring, negotiating, and
making investments on behalf of the Funds, managing and monitoring the performance of such
investments, and disposing of such investments. The Adviser serves as the investment adviser or
sub-adviser to the Funds in order to provide such services.
The Adviser provides investment management and/or investment supervisory services to each
Fund in accordance with the limited partnership agreement (or analogous organizational
document) of such Fund (the “Organizational Documents”), separate investment management
agreements (each such investment management agreement, an “Advisory Agreement”), and/or
side letters with investors (collectively, the “Governing Documents”).
Investment advice is provided directly to the Funds, and not individually to the investors in the
Funds. Investment restrictions for the Funds, if any, are generally established in the Governing
Documents or offering documents of the applicable Fund.
Silver Lake Technology Management is indirectly owned by certain members of its senior
management as well as Dyal Capital Partners Fund III, a permanent capital fund that is managed
by the Dyal Capital division of Blue Owl Capital Inc. (“Dyal”), and certain subsidiaries of
Mubadala Investment Company (“Mubadala”). Neither Dyal nor Mubadala has any control over
the day-to-day operations or investment decisions of Silver Lake Technology Management as they
relate to the Funds, but each has certain customary minority protection consent rights. Each of
Silver Lake Partners, Silver Lake Alpine, Silver Lake Long Term Capital and Silver Lake
Kraftwerk is a wholly owned subsidiary of Silver Lake Technology Management, and Silver Lake
Technology Management is engaged as a sub-adviser by each. Silver Lake Waterman
Management Company, L.L.C. is wholly owned through an intermediate entity by Silver Lake
Technology Management and Shawn O’Neill and Richard Stubblefield, Managing Directors of
Silver Lake Waterman Management Company, L.L.C., and Silver Lake Waterman Management
Company III, L.L.C. is wholly owned through Silver Lake Waterman Management Company,
L.L.C. and Shawn O’Neill, Managing Director of Silver Lake Waterman. Silver Lake Technology
Management is engaged as a sub-adviser by Silver Lake Waterman. Silver Lake Technology
Management has been in business since 1999; Silver Lake Management Company III, L.L.C. since
2006; Silver Lake Management Company IV, L.L.C. since 2012; Silver Lake Management
Company V, L.L.C. since 2016; Silver Lake Management Company VI, L.L.C. since 2020; Silver
Lake Management Company VII, L.L.C. since 2021; Silver Lake Management Company SPV-1,
L.L.C. since 2017; Silver Lake Management Company SPV-2, L.L.C. since 2019; Silver Lake
Management Company SPV-3, L.L.C. since 2020; Silver Lake Waterman Management Company,
L.L.C. since 2012; Silver Lake Waterman Management Company III, L.L.C. since 2018; Silver
Lake Alpine Management Company, L.L.C. since 2018; Silver Lake Alpine Management
Company II, L.L.C. since 2020; Silver Lake Management Company LTC, L.L.C. since 2020; and
Silver Lake Kraftwerk Management Company, L.L.C. since 2010. As of December 31, 2022, the
Adviser manages approximately $95 billion of client assets (including committed but unfunded
capital), all of which is managed on a discretionary basis.