HGGC has acquired Serena Software from Silver Lake in a deal reported to be around $450 million. Credit Suisse provided committed financing for the transaction, which was made through HGGC's latest fund. Serena Software provides orchestrated application development and release management solutions for more than 2,500 enterprises worldwide. Silver Lake bought the company in 2006 at a $1.2 billion valuation. A number of other firms were said to have discussed buying the company from Silver Lake, including Platinum Equity and Veritas Capital.