Clearlake Capital raises more than $2.5bn for third opportunities fund

Clearlake Opportunities Partners III will target investments in technology, industrial, and consumer businesses.

  • The fund’s limited partners include public and corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments, and family offices
  • Credit Suisse acted as advisor and placement agent for COP III while Paul Weiss served as legal advisor
  • Founded in 2006, Clearlake currently has over $70 billion of assets under management

Clearlake Capital Group has closed its third opportunities fund at more than $2.5 billion, beating its $1.5 billion target.

Clearlake Opportunities Partners III will target investments in technology, industrial, and consumer businesses. The fund’s limited partners include public and corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments, and family offices.

“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, a co-founder and managing partner at Clearlake, in a statement. “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 acted as advisor and placement agent for COP III while Paul Weiss served as legal advisor.

Founded in 2006, Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, California.