Silver Lake Partners has agreed to make a minority investment of $60 million in Power-One (NASDAQ, PWER). The investment is structured with $23.6 million of convertible preferred stock, $36.4 million of senior convertible notes, and warrants for 8.7 million shares of Power-One common stock. The warrants have a conversion price of $1.33 and the preferred shares and notes have a conversion price of $1.35. The deal also has a provision to limit conversion if Silver Lake's stake in the company rises above 19.9%. Power-One is a provider of power conversion and power management solutions.