Silver Lake’s Karol Quits to Join Clayton, Dubilier & Rice

Gillian Tan and Liana Baker, Bloomberg News

(Bloomberg) -- Silver Lake managing director Adam Karol resigned from the technology-focused investment firm for a role at Clayton, Dubilier & Rice, according to people with knowledge of the matter.

Karol, a private equity investor who joined Silver Lake in 2009, was on the boards of portfolio companies including A Place for Mom, Noom Inc., GoodRx Holdings Inc. and Integrity Marketing Group. Karol resigned from GoodRx’s board last month, according to a regulatory filing.

Representatives for Silver Lake and CD&R declined to comment.

CD&R, led by Chairman Donald Gogel, Chief Executive Officer Nate Sleeper and Co-Presidents Rick Schnall and David Novak, has more than $80 billion in assets under management, according to a filing with the US Securities and Exchange Commission.

The firm last year closed on $26 billion for its biggest-ever fund, $23.5 billion of which came from external investors. The California Public Employees’ Retirement System, Canada Pension Plan Investment Board, Teacher Retirement System of Texas and Maryland State Retirement and Pension Systems are among investors in that fund, according to data compiled by Bloomberg.

(Updates with Silver Lake declining to comment in third paragraph.)