Silver Lake in talks with Hudson Yards
Private equity firm Silver Lake is in talks to move its global headquarters from 9 West 57th St. to the new Hudson Yards project, Axios has learned. No contracts have yet been signed, nor is it clear if Silver Lake would actually pack up its offices before its current lease expires in two years.
Why it matters: 9 West 57th has been private equity and hedge fund central for years, serving as global HQ to such firms as Silver Lake, Apollo, KKR, Och-Ziff, Tiger Global and more. It is to NYC private equity what Sand Hill Road is to Silicon Valley venture capital (or what Bay Colony used to be to Boston venture capital).
KKR already signaled in late 2015 that it plans to leave for Hudson Yards, and Silver Lake's departure would begin to look like something of a trend. Moreover, while the Silver Lake discussions began before last November's election, word is that traffic and security issues related to nearby Trump Tower have only served to make them more intense. No comment from Silver Lake.