Silver Lake co-founder starts new firm to manage his own wealth

Washington

JAMES Davidson, a co-founder of Silver Lake Management, is starting an investment firm to oversee his personal assets, formalising a long-standing arrangement with two outside money managers.

Mr Davidson teamed up with Michael Marks and Fritz Wolff to form Paxion Partners, a multi-family office based in Silver Lake's home town of Menlo Park, California, according to filings. Mr Marks is a founding partner of Riverwood Capital, another technology-oriented buyout firm based in Menlo Park, while Mr Wolff heads a Scottsdale, Arizona, real estate investment company that specialises in multi-family properties.

Originally a corporate securities attorney, Mr Davidson has been investing in technology for more than 25 years, first at Hambrecht & Quist and then at Silver Lake, the largest technology-focused buyout firm. While Mr Davidson and his partners created Paxion to invest in other areas of the economy on behalf of their families, the firm is structured in a way that would permit it to eventually …