The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX and London, UK. 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. [17] In 2017, Clearlake sold both companies to Centerbridge Partners for $1.26 billion and were merged. Hes nowhere near as rich as he boasts, nor as poor as his critics claim. 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 Club at Renaissance, Concert Golf's most recent acquisition, is located within an exclusive South Florida community. 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 Clearlake currently has more than $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. Necessary cookies are absolutely essential for the website to function properly. Our Standards: The Thomson Reuters Trust Principles. Oversubscribed COP III Fund Invests Using an All-Weather Strategy by Providing Flexible Equity and Credit Solutions. through deep industry knowledge, operational expertise, flexible solutions, and long-term partnerships. This is a profile preview from the PitchBook Platform. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. 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. Fund VII's announced platform investments include Cornerstone OnDemand, Concert Golf, Discovery Education, Intertape Polymer Group, Kofax, Mold-Rite Packaging, Quest Software and Springs Window Fashions. 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. Clearlake's investment professionals include two Managing Partners, three additional Partners, six Managing Directors, two Vice Presidents, nine Associates, and two analysts. [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. Language links are at the top of the page across from the title. 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 . 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. Jose Mourinho has been a perfect fit for Roma, instilling them with a confidence and a mentality that had been lacking. "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. 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. Clearlake currently has over $60 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. Clearlake Capital says it oversees more than $70 billion in assets under management; it has scored some of the industry's best returns. But opting out of some of these cookies may affect your browsing experience. Quest provides software solutions to IT departments spanning from database management to data protection. [17][18] In 2020 the merged company rebranded to Precisely. Get the full list, Morningstar Institutional Equity Research. Differentiated approach to investing People. 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. 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. 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 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. Credit Suisse acted as advisor and placement agent for COP III, and Paul Weiss served as legal advisor for the Fund. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. 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]. [3] Many investors chose to roll their holdings instead. [10] After the company underwent significant restructuring including cost-cutting, Clearlake sold the company to Invus Group for more than $140 million in 2016. About Charlesbank Capital Partners Based in Boston and New York, Charlesbank Capital Partners is a. from 8 AM - 9 PM ET. Long-term strategic partnership with management to transform and grow companies. We would like to thank our diverse group of investors for their confidence in our team and their continued support. Clearlake currently has over $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. 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? 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. [1][3][4][5], The firm is the owner of Chelsea F.C. 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. For more information, visit our Privacy Policy. Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. 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. 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. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. a0+#DA:@3b$q)P*wy`4k>+79^&ju&x-pC.+AWx About Motive PartnersMotive Partners is a specialist private equity firm with offices in New York City and London, focusing on control-oriented growth equity and buyout investments in software and information services companies based in North America and Europe and serving five primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment Management and Insurance. Donald Trumps real net worth? These cookies do not store any personal information. (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. This will include building critical platform infrastructure on the back-end of the Wealth workflow, with a plan to utilize proprietary expertise and know-how to augment the core BETA+ platform technology, enhance functionality for the existing blue-chip client set, enter new and high-growth markets, and cultivate partnerships within the combined Wealth ecosystems of the Sponsors. For more information, visit our Privacy Policy. 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. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. Get the full list, To view Clearlake Capital Partners VIs complete team members history, request access, Youre viewing 5 of 78 funds. Clearlake Capital Partners, which came back to market in the summer of 2020 with its seventh flagship fund, has set the hard-cap of its latest vehicle at $13.75 billion. The firm is headquartered in Santa Monica, CA. This website uses cookies to improve your experience while you navigate through the website. [3], In 2014, Clearlake acquired the women's clothing company Ashley Stewart for $18 million after it had recently filed for bankruptcy. 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.. "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.". Clearlake is a leading private investment firm founded in 2006. Clearlake currently has more than $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. Investor Contact: Get the full list 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. All rights reserved. The wealth management industry continues to demonstrate opportunities, bolstered by tailwinds across the spectrum including a significant movement in technology modernization, industry consolidation, increases in retail trading, and democratization of the capital markets. 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. [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. 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 Clearlakes operational improvement approach,O.P.S.The firms core target sectors are technology, industrials, and consumer. 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. SANTA MONICA, Calif., May 18, 2022 /PRNewswire/ -- 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. But opting out of some of these cookies may affect your browsing experience. Clearlake and Motive Partners assume no obligation to update any forward-looking statements, which speak only as of the date of this news release. 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. Investor Contact:Patrick GilliganClearlake Capital Group, L.P.310-400-8844pgilligan@clearlake.com, Media Contact:Jennifer HursonLambert845-507-0571jhurson@lambert.com, View original content to download multimedia:https://www.prnewswire.com/news-releases/clearlake-capital-closes-clearlake-opportunities-partners-iii-with-more-than-2-5-billion-in-commitments-301628078.html, Plus500. 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. The growth of mobile commerce has been remarkable in recent years, and it shows no signs of slowing down. Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies. [3] In 2021, Charlesbank Capital Partners invested in Ivanti at a valuation of $4 billion. Booker T talks the WWE Draft, hosting WWE's Most Wanted Treasures and AEW All In. [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 industry leader for online information for tax, accounting and finance professionals. READ MORE ABOUT OUR HISTORY INDUSTRY FOCUS Significant experience across Clearlake's core sectors - Software & Technology, Energy & Industrials, Food & Consumer Services Explore our sectors NEWS First Quarter 2023 Investment Activity View all news 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. [3][5][6][7] Clearlake, which owns about 60% of Chelsea, would share joint control and equal governance of the club with Boehly.[5]. These cookies will be stored in your browser only with your consent. 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. Youre viewing 5 of 9 investments. In 2017, Clearlake raised more than $3.6 billion for Clearlake Capital Partners V, L.P. Feliciano. [8][9], Clearlake Capital was founded in 2006 by Steven Chang, Behdad Eghbali and Jos E. The deal is formally expected to be announced as soon as Monday, the report added. Clearlake Capital (Clearlake) is a private equity firm founded in 2006 that focuses on the technology, industrial and consumer sectors. 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+". Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. 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 2023 PitchBook. 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. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. The private equity firm is based in Santa Monica, California. Over recent years, the space has exhibited growth across various avenues, compounded by investment from new and established players. Re: Clearlake Capital Partners VII , L.P. Dear Trustees: Clearlake Capital Group , L .P. "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. [3][13], In recent years Clearlake has become the biggest user of GP-led secondaries. Clearlake Capital. Get the full list Want detailed data on 3M+ companies? The fund targets information technology, industrial, consumer products and services sectors. 2023 Forbes Media LLC. 2023 PitchBook. These cookies will be stored in your browser only with your consent. All rights reserved. More than $25 billion in capital has been raised by Clearlake since January 2021, which includes nearly $7 billion raised in four continuation funds. Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. 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. Fund 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. The investment Takeover target Liontown Resources Ltd said on Tuesday that it had not received any new offers amid speculation of a rival bid after the Australian lithium developer rejected a $3.7 billion offer from Albemarle Corp in March. We also use third-party cookies that help us analyze and understand how you use this website. ("Clearlake," "Genera l Partner") was founded in 2006 as a sector -focused investment firm specializngi in private equity, specai l situations and opportunistic credit . 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. More information is available atwww.clearlake.comand on Twitter@Clearlake. Confluence, backed by Clearlake Capital and TA Associates, welcomes longtime asset management executive Joan Binstock to board of directors. All rights reserved. Get the full list, Morningstar Institutional Equity Research. With the closing of Fund VII, Clearlake has more than $72 billion of assets under management and will continue to leverage its current investment strategy with Fund VII of flexible and creative deployment of capital into the technology, industrial and consumer sectors. x[O@I,c9$A fJv/6{Qf)(~S!(prr|u!==nVJR2A Quest was part of Dell's software division, which the company divested in 2016 to focus on its technology portfolio and bolster its balance sheet after it agreed in October to buy data storage company EMC for $67 billion. You also have the option to opt-out of these cookies. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "could," "should," or words of similar meaning. "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.". 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. Investor Contact:Patrick GilliganClearlake Capital Group, L.P.310-400-8844[emailprotected], Media Contact:Jennifer HursonLambert845-507-0571[emailprotected]. 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. You also have the option to opt-out of these cookies. 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. 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 . 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. [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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. [10], In 2015, Clearlake took a controlling stake in Syncsort. (PRNewsfoto/Centroid Investment Partners,Clearlake Capital Group) All quotes delayed a minimum of 15 minutes. By Marvin Larin CC4b!ihbF fhHf} eB7>_KBv!uU? It is mandatory to procure user consent prior to running these cookies on your website. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. 2018 Cohesive Capital. More than $25 billion in capital has been raised by Clearlake since January 2021, which includes nearly $7 billion raised in four continuation funds. Clearlake and Motive continue to execute on a similar thesis with their existing portfolio company, InvestCloud. [2][3][4][5] The strategy was to shift between buyouts and distressed securities depending on economic conditions. More information is available atwww.clearlake.comand on Twitter@Clearlake. This category only includes cookies that ensures basic functionalities and security features of the website. 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..