US technology investor Silver Lake Partners has closed its fourth fund at $10.3bn (€7.88bn).

It is thought to be the largest technology-focused fund raised, ahead of the initial $7.5bn target. The firm has made around $300m of commitments. It is the first fund in which the majority of investors were from outside of the US. 

Although US-based, Silver Lake has a global remit and has enjoyed its forays into Europe. Perhaps its most successful deal was the $2.5bn investment in Skype in 2009. Just 18 months later it sold the internet calling company to Microsoft for $8.5bn. Silver Lake received $2.9bn in cash on the 3.1x exit. It also invested alongside KKR and Alpinvest in NXP Semiconductors in 2006. The €7.4bn deal was one of largest ever seen in Europe.

The news comes as the firm continues its ongoing battle for control for PC giant Dell. Around $1.4bn has been earmarked for to support founder Michael Dell’s takeover bid.