* Soros a strategic partner in the fund
* Venture capital investor Grosser to lead fund
* Fund to operate out of Silicon Valley and China
NEW YORK, Feb 24 Private equity firm Silver
Lake [SILAK.UL], which focuses on the technology sector, said
it is teaming up with billionaire financier George Soros to
start a new fund to invest in clean energy businesses.
Silver Lake, which manages $14 billion, will launch Silver
Lake Kraftwerk, with offices in Silicon Valley and China, to
provide growth capital to companies in energy and resource
The fund will invest in companies that "leverage technology
and business model innovation to improve energy efficiency,
reduce waste and emissions, harness renewable energy, and more
efficiently use natural resources, among other applications."
Soros Fund Management will join Silver Lake as a strategic
partner in the fund.
Silver Lake Kraftwerk will be led by Adam Grosser, who
spent 10 years as a general partner at venture capital firm
Cathy Zoi, who recently resigned as the Obama
administration's acting under secretary for energy and
assistant secretary for energy efficiency and renewable energy,
will join the fund in April.
(Reporting by Paritosh Bansal; editing by John Wallace)