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Silver Lake Owns 29 Percent Stake In Dell Technologies

The private equity firm and longtime Dell investor reports owning more than 101 million Class B shares of Dell Technologies.

Private equity firm Silver Lake reported Thursday that it owns nearly a 29 percent stake in Dell Technologies, according to a filing with the U.S. Securities and Exchange Commission2.

The longtime Dell investor owns more than 101 million Class B shares of Dell Technologies, representing a 28.6 percent stake in Dell Technologies, which hit the public market just one year ago. When Dell was a private company from 2013 to 2018, Silver Lake owned approximately a 24 percent stake in the Round Rock, Texas, infrastructure giant.

Silver Lake’s filing shows the investment firm’s long-term commitment to Dell Technologies and its longtime CEO and founder, Michael Dell. Silver Lake helped take Dell private in a nearly $25 billion deal in 2013. The deal paid shareholders $13.65 in cash per share, marking the biggest leveraged buyout in years. Michael Dell and Silver Lake in 2017 put together the plan to become public in 2018, led by Egon Durban, a director on the board of Dell Technologies and co-CEO of Silver Lake.

[Related: 5 Things You Need To Know About VMware’s Acquisition Of Pivotal]

When Dell confirmed its plan to go public through a VMware stock swap in 2018, Durban said Silver Lake “has no plans to seek liquidity and remains an enthusiastic long-term shareholder.”

Dell Technologies entered the public market on Dec. 28, 2018, following a $24 billion cash and equity deal though a VMware stock swap. The company debuted on the New York Stock Exchange at $46 per share under the ticker symbol DELL. The stock rocketed to near $70 per share in May that gave investors a 52 percent profit in around five months. However, Dell’s stock fell significantly after reporting its first fiscal quarter earnings. Over the past six months, Dell’s stock price has mostly fluctuated between the high $40s and low $50s per share.

Dell Technologies stock is currently at $52.29 per share as of Thursday evening.

Silver Lake also owns a substantial stake in Pivotal Software, which was acquired by VMware this week for $2.7 billion.

The private equity firm currently manages $43 billion in combined assets and committed capital. In December, Silver Lake said it will expand its asset base for its flagship large-scale private equity strategy in a move to enhance its capacity to pursue large investment opportunities in technology and technology-enabled industries on a global basis.

In November, Silver Lake acquired IT services company First Advantage, which specializes in background check and drug screening solutions.

Silver Lake’s portfolio of investments collectively generates more than $230 billion in revenue annually. The company includes a team of 100 investment and operating professionals in Silicon Valley, New York, London and Hong Kong.

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