Market wrap up: Clearlake wraps up second fund with $410M

Fund-raising activities of the past week brought the total commitments raised by buyout and mezzanine shops this year to $2.4 billion.

Leading the way was Clearlake Capital Group, which closed Clearlake Capital Partners II with more than $410 million in pledges. Also, New York-based Enhanced Capital Partners collected $106 million from 11 investors for Enhanced Equity Fund II, which seeks $350 million. Enhanced Capital invests $5 million to $25 million in companies that generate revenue of less than $100 million.

EDG Partners also started marketing its sophomore fund and already has $10.5 million in pledges. The Norcross, Ga.-based firm seeks to secure up to $150 million for EDG Partners Fund II, according to a regulatory filing.

Busy deal activity

Firms remained busy on the deals front as year-to-date deal flow climbed to $2.1 billion.

(publisher of PE Week) tracked nine LBO deals from Jan. 18 to Jan. 26. The four deals with known financial terms combined for a disclosed valuation of about $1.5 billion.

Ares Management and Teachers’ Private Capital acquired Simmons Bedding Co. for $760 million, the largest disclosed deal of the week. The transaction represents Simmons’ exit from Chapter 11 bankruptcy. The Atlanta-based mattress maker petitioned for bankruptcy protection in November. At the time, it was part of Thomas H. Lee Partners’ portfolio. The deal reduced Simmons’ debt by more than half to $450 million from $1 billion.