Oversubscribed The COP III fund invests using an all-weather strategy by providing Flexible equity and credit solutions
SANTA MONICA, Calif., September 20, 2022 /PRNewswire/ — Clearlake Capital Group, LP (“Clearlake“or the “Company”), an investment firm founded in 2006 that operates integrated businesses in private equity, credit and other related strategies, announced today that it has completed the of funds for Clearlake Opportunities Partners III (“COP III” or the “Fund”) with more than $2.5 billion in commitments. COP III was oversubscribed (including general partner and affiliate commitments) and exceeded its $1.5 billion target with the support of existing and new sponsors.
COP III will continue Clearlake’s flexible investment strategy of investing in special situations investments without controls, using the company’s sector approach targeting investments in technology, industrial and consumer companies.
“With COP III, Clearlake has the ability to partner with attractive companies looking for tailored capital solutions, while offering our investors a combination of capital preservation and attractive contractual returns, as well as upside potential in stocks or similar actions. This all-weather approach allows us to act with agility in the face of changing market conditions, including taking advantage of periodic disruptions in debt capital markets,” said José E. Feliciano, co-founder and managing partner at the house of Clearlake. “An agile, multi-pronged investment approach has been a tenet of the company since its inception 16 years ago, and COP III is the perfect complement to our recently closed flagship fund VII. We would like to thank our diverse group of investors for their confidence in our team and their continued support.”
“The Fund has the flexibility to invest across the capital structure in both equity, preferred stock and debt securities, allowing us to focus on opportunities where creativity and active sponsorship are rewarded. said Behdad Eghbali, co-founder and managing partner at Clearlake. “Clearlake’s A strong and growing team is well qualified to source and execute complex transactions, and we look forward to putting our capital to work where it makes sense, including financing mergers and acquisitions, enabling completion events for owners and shareholders and meeting liquidity needs.
Sponsors of COP III include institutional investors from Asia, Europeand North Americaand represent a diverse group of public and corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments, and family offices.
In May, Clearlake announced that it has raised more than $14.1 billion for its seventh flagship private equity fund, Clearlake Capital Partners VII. Total capital raised by Clearlake since January 2021 outrun $27 billionwhich includes COP III, Fund VII, the company’s continuation and co-investment funds, and capital raised by WhiteStar Asset Management, LLC, CLO, structured products and the largely syndicated credit arm of Clearlake. COP III has previously led investments in AMCS, a global provider of cloud-based integrated software and vehicle technologies for the environment, utilities, waste, recycling and resource industries, and Chelsea Football Club, a professional football club that competes in the Premier League. , the top division of English football. COP III led the Chelsea Football Club investment on behalf of Clearlake’s affiliated funds and other partners.
Credit Suisse acted as advisor and placement agent for COP III, and Paul Weiss served as legal counsel for the Fund.
About Clearlake Capital
Clearlake Capital Group, LP is an investment firm founded in 2006 that operates integrated businesses in private equity, credit and other related strategies. With a sector-based approach, the company seeks to partner with management teams by providing patient, long-term capital to companies that can benefit from Clearlake’s operational improvement process, OPS® The main target sectors of the company are technology, industry and consumer. Clearlake currently has more $70 billion of assets under management, and its senior investment managers have led or co-led more than 400 investments. The company is headquartered in Santa Monica, California with subsidiaries in Dallas, TX, London, UK and Dublin. More information is available at www.clearlake.com and on Twitter @Clearlake.
Clearlake Capital Group, LP
SOURCEClearlake Capital Group