Walker Guidelines: Disclosures
Effective as of: December 7, 2022
In November 2007, a UK advisory group led by Sir David Walker published the Walker Guidelines for Disclosure and Transparency in Private Equity, which make recommendations to encourage greater disclosure and transparency by private equity firms investing in United Kingdom portfolio companies.
Silver Lake has voluntarily agreed to endeavour to conform on a “comply or explain” basis as part of its support of the Walker Guidelines. Silver Lake also intends to work alongside its United Kingdom portfolio companies covered by the Walker Guidelines to do the same.
Silver Lake has published this document in order to provide information on its UK private equity operations as part of its ongoing commitment to compliance with the Guidelines.
Silver Lake and Silver Lake Europe’s Private Equity Operations
Silver Lake is the global leader in technology investing, with more than $92 billion in combined assets under management and committed capital and a team of professionals located around the world. Dedicated to the thesis that the dynamism and rapid pace of innovation in global technology demand intensely focused domain expertise, Silver Lake devotes its full scope of talent and intellectual capital to the singular mission of investing in the world’s leading technology, technology-enabled and related growth businesses. Applying the strategic insights of an experienced industry participant, the operating skill of a world-class management team, and sophisticated investing and structuring capabilities, Silver Lake leverages the deep knowledge and expertise of a global team based in North America, Europe and Asia.
Silver Lake Europe LLP (SLE) acts as a sub-advisor to Silver Lake’s US affiliates in relation to the investment of European based assets of Silver Lake managed funds. SLE is based in the U.K. and authorised and regulated by the U.K. Financial Conduct Authority.
Launched in 1999 as a specialist firm focused on technology company investments, Silver Lake has maintained its strategic discipline since its founding and engages in a synergistic and collaborative approach to investing across the following investment strategies:
- Silver Lake Partners engages as a strategic market participant via large-scale investments in technology, technology-enabled and related growth businesses.
- Silver Lake Alpine targets structured equity and debt investment opportunities in large-cap technology, technology-enabled and related growth businesses.
- Silver Lake Waterman offers flexible growth capital to later-stage private companies in the technology, technology-enabled and related growth industries.
- Silver Lake Long Term Capital is a 25-year long term strategy that furthers Silver Lake’s ability to partner with companies across all stages of growth.
The average holding period for our European private equity investments is expected to be between 4 and 6 years.
For more information on our investment approach and private equity operations, please see our website (https://www.silverlake.com/overview/index).
For more information on our structure and investment approach and how we deal with conflicts of interest see our website (http://www.silverlake.com) and SLTM’s public filings with the US Securities and Exchange Commission (http://www.sec.gov).
As of the date of this document, we have more than $92 billion in combined assets under management and committed capital and a team of professionals located around the world. Silver Lake’s portfolio companies collectively generate more than $272 billion of revenue annually and employs more than 681,000 people globally. For a list of our current portfolio companies, including those headquartered in the United Kingdom, please see our website (https://www.silverlake.com/portfolio/).
Conflicts of Interest
Silver Lake places significant importance on the prevention and management of conflicts of interest. Silver Lake has established and implemented a formal conflicts policy which ensures that it has appropriate systems and controls in place to identify, prevent and manage conflicts between its own interests and those of its clients and those of one client and another.
Silver Lake and SLE Team and Leadership
Silver Lake has a team of investment, operating and group professionals located in North America, Europe and Asia that manage Silver Lake’s investment activities across the globe.
For more information on the SLE team, based in London, including its leadership, please see our website (https://www.silverlake.com/team).
We have established strong relationships with a diverse base of investors by type and geography. Many of these investors have invested with us since our inception and across multiple funds that we have sponsored. The commitments we receive come from a variety of institutions, with the largest percentage of our commitments for Silver Lake Partners V and Silver Lake Partners VI coming from public pensions, followed by sovereign wealth funds. We also receive commitments from insurance companies, financial institutions, high net worth individuals, family offices and endowments and foundations, among other types of investors. 4% of these institutions are based in the United Kingdom, with the remaining 96% being based throughout the rest of the world.
Commitment to the Walker Guidelines
Silver Lake is supportive of the Walker Guidelines. SLE endeavours to conform to the Walker Guidelines on a “comply or explain” basis and intends to work alongside our United Kingdom portfolio companies covered by the Walker Guidelines to do the same.