Thanks for this simple and clear explanation that should save me from further confusion.

So, in terms of being a PE fund, Silverlake Partners actually did pretty good when they acquired a stake in Palm and later sold it to HP? I think I read somewhere that Marc Bidnick claimed SP earned a 5% return on the deal.

Many retroactively mark the HP purchase as Palm’s death knell, but one could argue that the Silverlake investment signaled hospice care.