[12], In June 2020, Clearlake acquired a majority interest in WhiteStar Asset Management from Pine Brook Road Partners. 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. Over recent years, the space has exhibited growth across various avenues, compounded by investment from new and established players. These cookies do not store any personal information. [3] In 2021, Charlesbank Capital Partners invested in Ivanti at a valuation of $4 billion. See here for a complete list of exchanges and delays. In many towns and cities around the world, electric scooters have proliferated. Donald Trump Seeks Mistrial In E. 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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. The firm is headquartered in Santa Monica, CA. 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. All Rights Reserved. By acquiring the BETA+ assets from LSEG and creating a standalone platform, Clearlake and Motive intend to execute on a buy and build strategy, supported by Clearlake's proprietary O.P.S. framework and Motive's value creation plan developed by Motive Create and the Industry Partner team. More information is available atwww.clearlake.comand on Twitter@Clearlake. Additionally, Clearlake and MotivePartners have simultaneously formed a long-term strategic partnership with LSEG, in which LSEG will provide content, data, and tools to BETA+ and the Sponsors' other portfolio companies. 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. [3][5][6][7] Clearlake, which owns about 60% of Chelsea, would share joint control and equal governance of the club with Boehly.[5]. Clearlake's innovation comes as GPs seek ways to achieve longer holds on businesses where they see more room for growth. [2][3][4][5] The firm is headquartered in Santa Monica with affiliates in Dallas, London and Dublin. Clearlake currently has over $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Youre viewing 5 of 8 investments. 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 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 This website uses cookies to improve your experience while you navigate through the website. The fund is located in Santa Monica California and invests in North 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. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. Cision Distribution 888-776-0942 Clearlake currently has more than $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. [3] This allowed the firm to take advantage of the 20072008 financial crisis to acquire distressed securities and then sell them for a profit after recovery. Trumps lawyers request is based on claims that the judge in the case has been biased against the former president in his judgments thus far. /axoT)2Aeq97qZ/bHr/@83R-}Z_$#&%C%BcqMs8e:&jg44i58FbApnXgOtD"bR9GPfCO/$Hn\/v_IJI0?I>(8M;Siw8~GnWGl4-mY&, . "Clearlake's robust and growing team is well skilled to source and execute complex transactions, and we are eager to put our capital to work where it makes sense including funding mergers and acquisitions, enabling realization events for owners and shareholders, and bridging liquidity needs.". [3] Many investors chose to roll their holdings instead. Fund VII is double in size to the Firm's predecessor flagship fund, Clearlake Capital Partners VI, which is fully deployed and closed at $7.1 billion in commitments in early 2020. Limited partners in COP III include institutional investors from Asia, Europe, and North America, and represent a diverse group of public and corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments, and family offices. Get the full list [17][18] In 2020 the merged company rebranded to Precisely. We would like to thank our diverse group of investors for their confidence in our team and their continued support. var __dcid = __dcid || []; Clearlake Capital Wraps Up Latest Fund With $14.1 Billion The firm has quadrupled its assets under management to about $72 billion since its predecessor flagship fund closed in 2020 Jos E.. For more information, visit our Privacy Policy. core sectors Software & Technology, Energy & Industrials, Food & Consumer Services. 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. 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. "We look forward to partnering with Motive Partners, the BETA+ team, and LSEG as the company continues to provide best-in-class solutions to its blue-chip customer base.". 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. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. COP III has already led investments in AMCS, a global supplier of integrated cloud-based software and vehicle technology for the environmental, 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. (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. More information is available at www.clearlake.com and on Twitter @ Clearlake. Get the full list, To view Clearlake Capital Partners VIIs complete team members history, request access, Youre viewing 5 of 78 funds. Clearlake and Motive's thesis in wealth management technology focuses on providing the Wealth Management industry with frictionless digital experiences, catalyzing the democratization of wealth solutions, and delivering hyper-personalized solutions to end clients. These cookies will be stored in your browser only with your consent. More information is available at www.clearlake.com and on Twitter @Clearlake. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. [3][5][6][7], In June 2022, Clearlake Capital was ranked eighth in Private Equity International's PEI 300 ranking of the largest private equity firms in the world. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. 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 . Get the full list, To view Clearlake Capital Partners VIs complete team members history, request access, Youre viewing 5 of 78 funds. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. __dcid.push({"cid":"DigiCertClickID_vnR-yZZg","tag":"vnR-yZZg","seal_format":"dynamic"}); Clearlake is a leading private investment firm founded in 2006. This website uses cookies to improve your experience while you navigate through the website. In May, Clearlake announced it had raised more than$14.1 billionfor its seventh flagship private equity fund, Clearlake Capital Partners VII. More information is available at www.clearlake.comand on Twitter @Clearlake. [17] In 2016 Clearlake, took a controlling stake in Vision Solutions. Notable realizations over the past two years include ConvergeOne, Lytx, Perforce, and Sage Automotive. Language links are at the top of the page across from the title. SANTA MONICA, Calif., Sept. 20, 2022 /PRNewswire/ -- Clearlake Capital Group, L.P. ("Clearlake" or the "Firm"), an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies, announced today it has completed fundraising for Clearlake Opportunities Partners III ("COP III" or the "Fund") with more than $2.5 billion in commitments. Feliciano. 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 . More information is available at www.clearlake.com and on Twitter @ClearlakeCap. 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. iFund performance can vary significantly over time, and there is no assurance that reported unrealized values can or will be realized; such values may have been derived or estimated from unobservable inputs, assumptions, and multiple traditional and non-traditional valuation approaches; such assumptions, believed to be reasonable by Clearlake, may nonetheless be inaccurate and/or subject to material differences based on judgment and other subjective measures; and future actual realized returns may differ materially from the unrealized value estimates included in fund performance calculations. This has presented opportunities for well-placed investors and innovators to digitize legacy technology, expand product offerings to address unmet demand, and create efficiencies along the value chain. Win whats next. Investor Contact:Patrick GilliganClearlake Capital Group, L.P.310-400-8844[emailprotected], Media Contact:Jennifer HursonLambert845-507-0571[emailprotected]. Industry Group Health Care Biotechnology Health Insurance Hospitals & Physicians The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX and London, UK. You also have the option to opt-out of these cookies. 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. Clearlake currently has over $60 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. The factors that may adversely impact the anticipated outcomes include, among others: the occurrence of any event, change or other circumstance that could give rise to the termination of the transaction agreement; conditions to the completion of the transaction may not be satisfied on the terms expected or on the anticipated timeline; and the benefits of the transaction may be different than currently anticipated. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX and London, UK. 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. Credit Suisse Private Fund Groupacted as the primary placement agent for Fund VII, and Kirkland & Ellis LLP served as legal adviser for the Fund. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. Hes nowhere near as rich as he boasts, nor as poor as his critics claim. 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. Get the full list, Morningstar Institutional Equity Research. ", "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. [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 private equity firm is based in Santa Monica, California. More than $25 billion in capital has been raised by Clearlake since January 2021, which includes nearly $7 billion raised in four continuation funds. 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. Feliciano and his wife have committed $50 million in grants and impact investments to support entrepreneurs from underrepresented groups. Quest provides software solutions to IT departments spanning from database management to data protection. [1] [3] [4] [5] Clearlake, Quest and Francisco Partners did not immediately respond to Reuters' requests for comment. [2][3][4][5] The strategy was to shift between buyouts and distressed securities depending on economic conditions. 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. The private equity firm is based in Santa Monica, California. 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. 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 Journal reported on Sunday, citing people familiar with the matter. 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. 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 Clearlake's team consists of 59 professionals, including 24 investment professionals. More information on Motive Partners can be found at www.motivepartners.com. Your brand's success hinges on how effectively you can wow potential customers online. The industry leader for online information for tax, accounting and finance professionals. Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. Forward-looking statements are subject to assumptions, risks and uncertainties that may cause actual results to differ materially from those contemplated by such forward-looking statements. The firm is headquartered in Santa Monica, CA. Our Standards: The Thomson Reuters Trust Principles. 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. [11][12] The purpose of the sale was to fund the creation of a credit unit. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin. SANTA MONICA, Calif. and NEW YORK and LONDON, March 21, 2022 /PRNewswire/ -- Clearlake Capital Group, L.P. ("Clearlake") and Motive Partners ("Motive" and collectively, the "Sponsors"), today announced that they have entered into a definitive agreement to acquire the BETA+ assets from London Stock Exchange Group ("LSEG"), which encompasses the assets of BETA (securities processing, custody, clearing, and asset servicing technology), Maxit (cost and tax basis reporting software), and Digital Investor (front-end client solutions), collectively referred to as "BETA+". Fund VII is double in size to the Firms predecessor flagship fund, Clearlake Capital Partners VI, which is fully deployed and closed at $7.1 billion in commitments in early 2020. 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. This information is available in the PitchBook Platform. [17] In 2017, Clearlake sold both companies to Centerbridge Partners for $1.26 billion and were merged. 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. This category only includes cookies that ensures basic functionalities and security features of the website. [3], In 2014, Clearlake acquired the women's clothing company Ashley Stewart for $18 million after it had recently filed for bankruptcy. 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. 2023 PitchBook. 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 Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. 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. 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. Clearlakes operational improvement approach is O.P.S. Operations. from 8 AM - 9 PM ET. Re: Clearlake Capital Partners VII , L.P. Dear Trustees: Clearlake Capital Group , L .P. We remain focused on investing in companies at attractive price points that can benefit from our buy-and-build and organic growth strategies that best position our companies and our investors for long-term success.". It's early, but the club's big offseason free agent acquisition is performing far below his accustomed standard. [8][9], Clearlake Capital was founded in 2006 by Steven Chang, Behdad Eghbali and Jos E. What you see here scratches the surface Request a free trial Want to dig into this profile? The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. "BETA+, together with our other portfolio companies, will be focused on creating frictionless, digital-first experiences for clients, advisors, and home office personnel with streamlined processes, reduced costs, and increased retention and satisfaction, ultimately making it easier for Wealth clients to obtain solutions which address their financial needs. 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. Clearlake Financial Corp. is a national firm providing capital financing to businesses, professionals, and commercial industries since 1986. top of page Experience, Knowledge & Ingenuity | Call Us: 305-213-2586 About Charlesbank Capital Partners Based in Boston and New York, Charlesbank Capital Partners is a. 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. You should consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on such statements. American private equity firm based in Santa Monica, "Clearlake Capital hits fundraising trail minus a founder | Buyouts", "Clearlake, the US buyout group behind the Chelsea bid", "Clearlake Capital Wraps Up Latest Fund With $14.1 Billion", "Clearlake Follows Its Chelsea Deal With A $14.1 Billion Buyout Fund", "Wall Street Brings Its Financial Engineering to English Football", "Consortium led by Todd Boehly and Clearlake Capital completes acquisition of Chelsea Football Club", "PEI 300 2022: KKR beats the crowd to claim PEs throne", "The Fall and Rise of a Plus-Size Empire", "Clearlake Capital sells 20% stake to 3 alternatives fund managers", "Clearlake Attracts Minority Investment From Dyal, Goldman, Landmark", "Clearlake Capital purchases majority stake in WhiteStar Asset Management", "Clearlake Capital closes Clearlake Opportunities Partners III with more than $2.5 billion in commitments", "Clearlake Capital closes seventh flagship private equity fund with more than $14.1 billion in commitments", "Clearlake Re-Acquires Precisely In $3.5 Billion Deal", "Two private equity firms take control of U.S. software company Precisely in $3.5 billion deal: source", "Clearlake Capital to take Cornerstone OnDemand private for $3.8 billion", "In $5.2B deal, Cornerstone OnDemand goes private | TechTarget", Private investment in public equity (PIPE), Taxation of private equity and hedge funds, Private equity and venture capital investors, https://en.wikipedia.org/w/index.php?title=Clearlake_Capital&oldid=1152384386, Financial services companies of the United States, Financial services companies established in 2006, Companies based in Santa Monica, California, Private equity firms of the United States, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 29 April 2023, at 22:49. Clearlake and Motive continue to execute on a similar thesis with their existing portfolio company, InvestCloud. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. o~
It is mandatory to procure user consent prior to running these cookies on your website. 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. In 2017, Clearlake raised more than $3.6 billion for Clearlake Capital Partners V, L.P. Clearlake Capital. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. 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. With an initial target of $10 billion, Fund VII reached its hard cap and was significantly oversubscribed including commitments from the General Partner and affiliates. As of December 31, 2021, Fund VIIs two predecessor funds generated the following results Clearlake Capital Partners V generated a gross IRR of 65.1% (57.7% net), with a gross multiple of 3.9x (3.2x net), and Clearlake Capital Partners VI generated a gross IRR of 86.9% (78.8% net), with a gross multiple of 1.8x (1.6x net)[i]. x[O@I,c9$A
fJv/6{Qf)(~S!(prr|u!==nVJR2A We also use third-party cookies that help us analyze and understand how you use this website. The deal is formally expected to be announced as soon as Monday, the report added. All rights reserved. "With COP III, Clearlake has the ability to partner with attractive businesses looking for bespoke capital solutions, while providing our investors with a combination of capital preservation and attractive contractual yields, plus potential equity or equity-like upside. 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. 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. These cookies do not store any personal information. [3][13], In recent years Clearlake has become the biggest user of GP-led secondaries. 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. a0+#DA:@3b$q)P*wy`4k>+79^&ju&x-pC.+AWx (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. By Marvin Larin 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. 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.. [17][18], In October 2021, the firm acquired Cornerstone OnDemand a NASDAQ listed software company for $5.2 billion and took the company private.
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