Firm: Clearlake Capital Group LP
Fund: Clearlake Capital Partners II LP
Target: $350 million, with a cap of $400 million
Amount Raised: $410 million
Legal Adviser: Paul, Weiss, Rifkind, Wharton & Garrison LLP
The firm began marketing
The New York-based firm has earmarked the capital for investments in special situations, which includes companies undergoing complex financial, operational or structural changes in the business services, communications, consumer, health care, industrial and technology sectors. It capitalizes on such opportunities through corporate divestitures, recapitalizations, buyouts, restructurings, turnarounds and minority equity investments in small and mid-size North American companies.
Backers include public and corporate pension funds, financial institutions, insurance companies, endowments and foundations, funds of funds and family offices. In November, the shop received a $15 million commitment from the
Clearlake continues to manage and invest
Steven Chang, Behdad Eghbali and José Feliciano founded the firm in 2006. Chang and Feliciano previously worked together at
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel in the formation of the fund.