[3], In 2014, Clearlake acquired the women's clothing company Ashley Stewart for $18 million after it had recently filed for bankruptcy. By continuing to browse, you hereby agree to the use of cookies. The WSJ report added that Clearlake was paying 10.9 times Quest's earnings before interest, taxes, depreciation and amortization for the last 12 months. We believe that our flexible investment strategy incorporating buyouts, corporate carveouts, and special situations is positioned to take advantage of the evolving and potentially unstable market conditions that we are likely to encounter in the investment period of Fund VII. Clearlake is a leading private Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Clearlake Capital (Clearlake) is a private equity firm founded in 2006 that focuses on the technology, industrial and consumer sectors. Feliciano worked in investment banking at Goldman Sachs and was the chief financial officer of govWorks before it declared bankruptcy in 2000. __dcid.push({"cid":"DigiCertClickID_vnR-yZZg","tag":"vnR-yZZg","seal_format":"dynamic"}); 2023 PitchBook. With an initial target of $10 billion, Fund VII reached its hard cap and was significantly oversubscribed including commitments from the General Partner and affiliates. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Clearlake Capital and Motive Partners to acquire BETA, Maxit, and Digital Investor from LSEG, adding new capabilities to their wealth ecosystem, and forms a strategic partnership between BETA+ . The fund is located in Santa Monica California and invests in Asia, Middle East, Europe, United States, North America and South America. [2] [3] [4] [5] The firm is headquartered in Santa Monica with affiliates in Dallas, London and Dublin. Bachelor of Engineering, Princeton University; Master of Business Administration, Stanford University. The new Rift fat tire ebike from Ride1Up is the epitome of adventure that proudly exhibits a robust design for both Step-Through and Step-Over frame options. [3] Many investors chose to roll their holdings instead. What you see here scratches the surface Request a free trial Want to dig into this profile? Related Persons Relationship: X Executive Officer Director X Promoter Clarification of Response (if Necessary): Relationship: X Executive Officer Director X Promoter Clarification of Response (if Necessary): 4. In 2021, Clearlake and TA Associates reacquired Precisely for $3.5 billion. Youre viewing 5 of 9 investments. Credit Suisse Private Fund Group acted as the primary placement agent for Fund VII, and Kirkland & Ellis LLP served as legal adviser for the Fund. Language links are at the top of the page across from the title. 2018 Cohesive Capital. People. Realizations across the Clearlake platform in 2021 include American Construction Source, Appriss, DigiCert, Ivanti, NetDocuments, Janus International, Precisely, Provation, symplr, Wheel Pros and investments under Clearlake's Better For You platform. SANTA MONICA, CA May 18, 2022 Clearlake Capital Group, L.P. (Clearlake), an investment firm that focuses on technology, industrials, and consumer industries, announced today it has completed fundraising for its seventh flagship private equity fund, Clearlake Capital Partners VII (Fund VII), with more than $14.1 billion in commitments. [12], In June 2020, Clearlake acquired a majority interest in WhiteStar Asset Management from Pine Brook Road Partners. o~ Investor Contact:Patrick GilliganClearlake Capital Group, L.P.310-400-8844[emailprotected], Media Contact:Jennifer HursonLambert845-507-0571[emailprotected]. You also have the option to opt-out of these cookies. [3], In 2015, Chang left the firm leaving Eghbali and Feliciano as the remaining managing partners. Trumps lawyers request is based on claims that the judge in the case has been biased against the former president in his judgments thus far. [1] [3] [4] [5] These cookies do not store any personal information. We also use third-party cookies that help us analyze and understand how you use this website. The firm is headquartered in Santa Monica, CA. Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX and London, UK. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. By continuing to browse, you hereby agree to the use of cookies. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. The Sponsors were advised by Wells Fargo as exclusive financial advisor, Sidley Austin LLP as legal counsel, Deloitte as accounting, tax, carveout and human resources counsel, BCG as commercial advisor, and Motive Create for technical due diligence. __dcid.push({"cid":"DigiCertClickID_vnR-yZZg","tag":"vnR-yZZg","seal_format":"dynamic"}); [3] This allowed the firm to take advantage of the 20072008 financial crisis to acquire distressed securities and then sell them for a profit after recovery. Credit Suisse Private Fund Groupacted as the primary placement agent for Fund VII, and Kirkland & Ellis LLP served as legal adviser for the Fund. These cookies will be stored in your browser only with your consent. More information is available at www.clearlake.com and on Twitter @ Clearlake. More information is available at www.clearlake.com and on Twitter @Clearlake. Cision Distribution 888-776-0942 Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. (PRNewsfoto/Centroid Investment Partners,Clearlake Capital Group) (function(){var cid=document.createElement("script");cid.async=true;cid.src="//seal.digicert.com/seals/cascade/seal.min.js";var s = document.getElementsByTagName("script");var ls = s[(s.length - 1)];ls.parentNode.insertBefore(cid, ls.nextSibling);}()); We use cookies to enhance your user experience. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. The firm is headquartered in Santa Monica, CA. As of December 31, 2021, Fund VII's two predecessor funds generated the following results - Clearlake Capital Partners V generated a gross IRR of 65.1% (57.7% net), with a gross multiple of 3.9x . All Rights Reserved. through deep industry knowledge, operational expertise, flexible solutions, and long-term partnerships. Yet that doesn't mean he'll stay beyond the summer. This is a profile preview from the PitchBook Platform. This category only includes cookies that ensures basic functionalities and security features of the website. Get the full list Want detailed data on 3M+ companies? Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. ", "The Fund has the flexibility to invest across the capital structure in both equity, preferred equity and debt securities, allowing us to focus on opportunities where creativity and active sponsorship are rewarded," said Behdad Eghbali,Co-Founder and Managing Partner atClearlake. Get the full list [11][12] The purpose of the sale was to fund the creation of a credit unit. COP III was oversubscribed (including commitments from the General Partner and affiliates) and exceeded its $1.5 billion target with support from existing and new limited partners. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Jose E. Feliciano cofounded Clearlake Capital in 2006 with Behdad Eghbali; both men are managing partners. The fund targets information technology, industrials,TMT, consumer products and services sectors ranging from USD 300 million to USD 1500 million in 20 to 25 companies. Differentiated approach to investing Were also thankful to the larger Clearlake team of investment professionals, portfolio company management teams, and employees who have worked diligently to find creative solutions in a time of so much disruption. Re: Clearlake Capital Partners VII , L.P. Dear Trustees: Clearlake Capital Group , L .P. Clearlake currently has over $60 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. Clearlake, Quest and Francisco Partners did not immediately respond to Reuters' requests for comment. Clearlake and Motive continue to execute on a similar thesis with their existing portfolio company, InvestCloud. [2][10], In May 2018, Clearlake sold a minority stake of up to 20% of its shares to Dyal Capital, Petershill Partners and Landmark Partners. COP III led the Chelsea Football Club investment on behalf of Clearlake's affiliated funds and other partners. core sectors Software & Technology, Energy & Industrials, Food & Consumer Services. Feliciano. COP III will continue Clearlake's flexible investment strategy of investing in non-control special situations investments, utilizing the Firm's sector-focused approach targeting investments in technology, industrial, and consumer businesses. About Charlesbank Capital Partners Based in Boston and New York, Charlesbank Capital Partners is a. With 300 institutional investors representing six continents and over 40 countries, Fund VII received strong support from existing longtime investors as well as prominent new investors, with approximately half of these new investors based in the U.S. and the remainder representing Asia, Middle East, Europe, and North and South America. More information is available at www.clearlake.com and on Twitter @ClearlakeCap. Oversubscribed COP III Fund Invests Using an All-Weather Strategy by Providing Flexible Equity and Credit Solutions. Clearlake Capital Partners Native Currency USD Fund Manager's Location 233 Wilshire Boulevard Suite 800 Santa Monica, CA 90401 United States +1 (310) 000-0000 Fund Domiciles United States: Delaware Cayman Islands Clearlake Capital Partners II Investments (13) You're viewing 5 of 13 investments. We believe this flexible mandate, combined with our O.P.S. value creation framework, has positioned us to deliver consistent strong outcomes for our portfolio companies and investors.. x[O@I,c9$A fJv/6{Qf)(~S!(prr|u!==nVJR2A The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX and London, UK. As such, there can be no assurance the investment will achieve its investment objectives or avoid losses, and past performance is not necessarily indicative of future results. Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. [3] It discovered this technique during the COVID-19 pandemic when it sold shares of software company Ivanti to TA Associates in August 2020 at a valuation of $2 billion that generated a large windfall gain. Nov 28 (Reuters) - Private equity firm Clearlake Capital has struck a deal to buy Quest Software Inc from Francisco Partners, valuing it at $5.4 billion including debt, the Wall Street. Significant experience across Clearlakes May 18, 2022 With the closing of Fund VII, Clearlake has more than $72 billion of assets under management and will continue to leverage its current investment strategy with Fund VII of flexible and creative deployment of capital into the technology, industrial and consumer sectors. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX and London, UK. Confluence, backed by Clearlake Capital and TA Associates, welcomes longtime asset management executive Joan Binstock to board of directors. All quotes delayed a minimum of 15 minutes. Exclusive news, data and analytics for financial market professionals, Reporting by Baranjot Kaur and Shubham Kalia in Bengaluru; Editing by Rashmi Aich, Australian miner Liontown confirms no new bids; resumes trading, Regulators seize First Republic Bank, sell assets to JPMorgan, Vice Media preparing to file for bankruptcy - NYT, JPMorgan deal forces Biden administration to defend record on mergers, Coffee at home: Australia Woolworths' sales jump as shoppers cut costs, Djokovic able to play at US Open as vaccine mandate set to end, Stocks on edge as traders wait on central bankers, Kudermetova to remove Russian sponsor logo to play at Wimbledon, Indian shares set for muted open ahead of Fed rate decision. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. Your brand's success hinges on how effectively you can wow potential customers online. With 300 institutional investors representing six continents and over 40 countries, Fund VII received strong support from existing longtime investors as well as prominent new investors, with approximately half of these new investors based in the U.S. and the remainder representing Asia, Middle East, Europe, and North and South America. The Sponsors are also focused on the long-term strategic partnership between BETA+, the Sponsors' other portfolio companies and LSEG, to offer new products and greater operational efficiencies to clients across these various platforms. Notable realizations over the past two years include ConvergeOne, Lytx, Perforce, and Sage Automotive. About Clearlake CapitalClearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. More than $25 billion in capital has been raised by Clearlake since January 2021, which includes nearly $7 billion raised in four continuation funds. JENNIFER HURSONClearlake Media Contact - Lambert+1-845-507-0571[emailprotected], SAM TIDSWELL-NORRISHManaging Director, Motive Partners+447855910178[emailprotected], SOURCE Clearlake Capital Group; Motive Partners, Cision Distribution 888-776-0942 Since Clearlake and TA's majority investment in Precisely in 2021, the Company has completed five acquisitions, demonstrating its commitment to delivering the industry's most comprehensive and robust data integrity software portfolio. See here for a complete list of exchanges and delays. Limited partners in Fund VII represent a diverse group of public and corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments, and family offices. Oversubscribed Fund VII to Continue Utilizing Consistent Investment Strategy Focused on Core Technology, Industrials and Consumer Sectors. Clearlake Capital Group,in a bid to hold certain assets longer than allowed under traditional private equity fund limits, has created a series of vehicles for longer holds over individual assets out of older funds. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. Limited partners in Fund VII represent a diverse group of public and corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments, and family offices. [10] After the company underwent significant restructuring including cost-cutting, Clearlake sold the company to Invus Group for more than $140 million in 2016. The Club at Renaissance, Concert Golf's most recent acquisition, is located within an exclusive South Florida community. Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies. Total capital raised by Clearlake since January 2021 exceeds $27 billion, which includes COP III, Fund VII, the Firm's continuation and co-investment funds, and capital raised by WhiteStar Asset Management, LLC, the CLO, structured products and broadly syndicated credit arm of Clearlake. All rights reserved. Clearlake currently has more than $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. var __dcid = __dcid || []; [17] In 2017, Clearlake sold both companies to Centerbridge Partners for $1.26 billion and were merged. Clearlake Overview Sector focused investment firm, founded in 2006, that targets investments in special situations, private equity, and opportunistic credit ~ $9.0B of regulatory assets under management Across six funds plus co-invest vehicles 55+ employees Experienced team of investment and operating professionals Forward Looking StatementsThis news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected timing and benefits of the transaction. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's . "BETA+ has established a strong position in the self-clearing technology space and broader wealth management ecosystem with a reputation for meeting the unique needs of global financial institutions and their clients," said Behdad Eghbali, Co-Founder and Managing Partner, and James Pade, Partner of Clearlake. CC4b!ihbF fhHf} eB7>_KBv!uU? investment firm founded in 2006. In this article, I will outline some strategies for leaders to take into consideration for optimal success when seeking to implement this popular and evolving AI technology in their own operations. Win whats next. Necessary cookies are absolutely essential for the website to function properly. Clearlake's innovation comes as GPs seek ways to achieve longer holds on businesses where they see more room for growth. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX and London, UK. [3] It is a technique where Clearlake will find another private equity firm to buy a large portion of one of its existing investments and then offer investors a chance to sell at a new valuation or roll their stake into a new fund that will hold the investment for a few more years. Investor Contact: The fund is located in Santa Monica California and invests in North America. Clearlake is a leading private investment firm founded in 2006. Clearlake Capital says it oversees more than $70 billion in assets under management; it has scored some of the industry's best returns. It is mandatory to procure user consent prior to running these cookies on your website. More information is available at www.clearlake.com and on Twitter @Clearlake. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin. It's early, but the club's big offseason free agent acquisition is performing far below his accustomed standard. Clearlake Capital Partners Native Currency USD Fund Manager's Location 233 Wilshire Boulevard Suite 800 Santa Monica, CA 90401 United States +1 (310) 000-0000 Fund Domiciles United States: Delaware Cayman Islands Want detailed data on 3M+ companies? Clearlake Capital Partners VII is a 2021 vintage buyout fund managed by Clearlake Capital Group. "It is gratifying to have the support of such a large group of global investors, which we believe is further validation of our consistent investment strategy," said Jos E. Feliciano,Co-Founder and Managing Partner at Clearlake. Strategy. All rights reserved. Donald Trumps lawyer is asking the judge for a mistrial in a civil rape case against the former president, citing frustration with what the judge admonished in court and prevented him from questioning accuser E. Jean Carroll about. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin. a0+#DA:@3b$q)P*wy`4k>+79^&ju&x-pC.+AWx With an initial target of $10 billion, Fund VII reached its hard cap and was significantly oversubscribed including commitments from the General Partner and affiliates. Feliciano, who was born in Puerto Rico, is on the board of trustees of Stanford University and the Smithsonian National Museum of the American Latino. Industry Group Health Care Biotechnology Health Insurance Hospitals & Physicians The private equity firm is based in Santa Monica, California. Donald Trump Seeks Mistrial In E. Jean Carroll Rape Trial, The Evolution Of E-Commerce And What It Means For Content Creation, Building Out A Mobile Strategy: What E-Commerce Brands Must Consider, Booker T Wants To See Grayson Waller Get Drafted, Talks A&E Hosting Role, Astros Jose Abreu Is A Contender For MLBs Least Valuable Player So Far This Season, E. Jean Carroll Testifies: Donald Trump Raped Me, Jose Mourinho Has Been A Perfect Fit For Roma, But That Doesnt Mean Hell Stay, Ride1Up Goes Big With New Cargo-Capable Rift Fat Tire E-bike, Content Marketing Tactics To Skyrocket Your E-Commerce Business In 2023, E-Commerce Leaders: Strategies For Success When Leveraging Chatbots, The Top 10 Richest Women In The World 2023, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Realizations across the Clearlake platform in 2021 include American Construction Source, Appriss, DigiCert, Ivanti, NetDocuments, Janus International, Precisely, Provation, symplr, Wheel Pros and investments under Clearlakes Better For You platform. Quest provides software solutions to IT departments spanning from database management to data protection. Youre viewing 5 of 8 investments. When typing in this field, a list of search results will appear and be automatically updated as you type. This is a profile preview from the PitchBook Platform. [17][18], In October 2021, the firm acquired Cornerstone OnDemand a NASDAQ listed software company for $5.2 billion and took the company private. The support from both existing and new limited partners is especially humbling given the backdrop of the last two years, and were grateful for their ongoing support, said Behdad Eghbali,Co-Founder and Managing Partner at Clearlake. [17][18] In 2020 the merged company rebranded to Precisely. Clearlake Capital (Clearlake) is a private equity firm founded in 2006 that focuses on the technology, industrial and consumer sectors. This website uses cookies to improve your experience while you navigate through the website. [3][13], In recent years Clearlake has become the biggest user of GP-led secondaries. Top Australian grocer Woolworths Group Ltd posted a bigger than expected rise in third-quarter sales as shoppers bought more of its cheaper house-brand products to cut costs amid spiralling living expenses. Writer E. Jean Carroll opened her testimony on Wednesday saying, Im here because Donald Trump raped me, and detailed the alleged events that occurred between her and the former president in a department store in the 1990s. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake's operational improvement approach, O.P.S. The firm's core target sectors are technology, industrials, and consumer. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. from 8 AM - 9 PM ET. [8][9], Clearlake Capital was founded in 2006 by Steven Chang, Behdad Eghbali and Jos E. /axoT)2Aeq97qZ/bHr/@83R-}Z_$#&%C%BcqMs8e:&jg44i58FbApnXgOtD"bR9GPfCO/$Hn\/v_IJI0?I>(8M;Siw8~GnWGl4-mY&, . 2023 Forbes Media LLC. [3][13] WhiteStar Asset Management serves as the credit platform of Clearlake. But opting out of some of these cookies may affect your browsing experience. All rights reserved. Clearlake Capital Partners VI is a 2020 vintage buyout fund managed by Clearlake Capital Group. Clearlake Capital and Motive Partners to acquire BETA, Maxit, and Digital Investor from LSEG, adding new capabilities to their wealth ecosystem, and forms a strategic partnership between BETA+, the Sponsors' portfolio companies and LSEG. It is gratifying to have the support of such a large group of global investors, which we believe is further validation of our consistent investment strategy, said Jos E. Feliciano,Co-Founder and Managing Partner at Clearlake. [17] In 2016 Clearlake, took a controlling stake in Vision Solutions. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. As of December 31, 2021, Fund VIIs two predecessor funds generated the following results Clearlake Capital Partners V generated a gross IRR of 65.1% (57.7% net), with a gross multiple of 3.9x (3.2x net), and Clearlake Capital Partners VI generated a gross IRR of 86.9% (78.8% net), with a gross multiple of 1.8x (1.6x net)[i]. We are very proud of the results generated by our funds in the context of a volatile macroeconomic backdrop in the past few years while experiencing significant growth and maintaining our focus on the fundamentals of our investment approach. Clearlake currently has over $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. When typing in this field, a list of search results will appear and be automatically updated as you type. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. The deal is expected to close in the second half of 2022, subject to regulatory approvals and other customary closing conditions. These cookies do not store any personal information. With the closing of Fund VII, Clearlake has more than $72 billion of assets under management and will continue to leverage its current investment strategy with Fund VII of flexible and creative deployment of capital into the technology, industrial and consumer sectors. More information on Motive Partners can be found at www.motivepartners.com. As of December 31, 2021, Fund VII's two predecessor funds generated the following results - Clearlake Capital Partners V generated a gross IRR of 65.1% (57.7% net), with a gross multiple of 3.9x (3.2x net), and Clearlake Capital Partners VI generated a gross IRR of 86.9% (78.8% net), with a gross multiple of 1.8x (1.6x net)i. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website.