| Company type | Private |
|---|---|
| Founded | 2006 |
| Founders | José E. Feliciano Behdad Eghbali |
| Headquarters | Santa Monica, California |
| Products | Private Equity Private Credit Secondaries |
| AUM | US$72 billion (2022) |
| Website | clearlake |
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. Clearlake currently has more than $70 billion of assets under management. The firm is headquartered in Santa Monica, CA, with affiliates in Dallas, TX, London, UK, and Dublin, Ireland. In May 2022, a consortium of investors co-led by Clearlake closed its acquisition of Chelsea Football Club. Clearlake owns about 60% of the club’s outstanding shares.
History edit
Clearlake Capital was founded in 2006 by José E. Feliciano and Behdad Eghbali, who continue to lead the company as Managing Partners. The firm’s core target sectors are technology, industrials, and consumer.[1]
In 2006, Clearlake raised its first flagship fund with $180 million in capital commitments. Since then, the firm has raised six successor flagship funds.[2] The latest flagship fund, Clearlake Capital Partners VII, closed in May 2022 with more than $14.1 billion in capital commitments, bringing the firm’s total assets under management to more than $72 billion.[3] The firm has also raised three [special opportunities funds], the latest of which closed in September 2022 with $2.5 billion in capital commitments.[4]
In May 2018, José E. Feliciano and Behdad Eghbali sold a minority stake in Clearlake to Neuberger Berman's Dyal Capital Partners, Goldman Sachs Asset Management's Petershill program and alternative investments firm Landmark Partners.[5]
In June 2020, in partnership with its portfolio company Diligent Technologies Corporation, Clearlake launched its “Modern Leadership” initiative to help organizations build more diverse and inclusive boards and leadership teams.[6]
In October 2021, the firm completed the acquisition of talent management software provider Cornerstone OnDemand for $5.2 billion.[7]
In November 2021, Clearlake advised on the launch of the ESG data reporting platform Novata.[8]
In February 2022, Clearlake acquired Quest Software, a cybersecurity, data intelligence, and IT operations software provider.[9]
In May 2022, a consortium of investors co-led by Clearlake and Todd Boehly closed its acquisition of Chelsea Football Club. Clearlake, which owns about 60% of Chelsea, shares joint control and equal governance of the club with Boehly.[3]
In July 2022, Clearlake completed the acquisition of BBB Industries, a provider of sustainable manufacturing of automotive parts.[10]
References edit
- ^ "Clearlake Capital Wraps Up Latest Fund With $14.1 Billion". The Wall Street Journal. May 18, 2022.
- ^ "Special Situations Shop Closes Fund". Buyouts Insider. February 1, 2010.
- ^ a b "Clearlake Follows Its Chelsea Deal With A $14.1 Billion Buyout Fund". Forbes. May 18, 2022.
- ^ "Clearlake rolls out third opportunities fund, with $1.5bn target". Buyouts Insider. October 4, 2021.
- ^ "Clearlake Capital sells 20% stake to 3 alternatives fund managers". Pensions & Investments. May 25, 2018.
- ^ "Clearlake's José E. Feliciano Named to 2021 PE Leaders in DEI". Mergers & Acquisitions. September 7, 2021.
- ^ "Clearlake Capital to Buy Cornerstone OnDemand for $5.2 Billion". Los Angeles Business Journal. August 9, 2021.
- ^ "Clearlake Capital to Buy Quest Software From Francisco Partners". The Wall Street Journal. November 29, 2021.
- ^ "Foundations, Private-Equity Firms Create ESG Reporting Platform". The Wall Street Journal. October 7, 2021.
- ^ "Clearlake Capital Acquires BBB Industries". Mergers & Acquisitions. July 18, 2022.
Category:American companies established in 2006 Category:2006 establishments in the United States Category:Private equity firms