Mubadala Buys Stake in Silver Lake, to Invest $2 Billion
- Deal includes 25-year strategy to invest in tech industries
- State-owned Mubadala has been boosting technology investments
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Abu Dhabi wealth fund Mubadala Investment Co. is taking a stake of about 5% in private equity firm Silver Lake and investing $2 billion in a technology fund run by the firm as part of its drive to diversify away from oil and gas.
Mubadala said it would buy the stake in Silver Lake from Dyal, a unit of Neuberger Berman. No terms were disclosed. The deal is the latest move in the Abu Dhabi sovereign wealth fund’s drive to expand its technology portfolio.