But are they safe, or are they putting riders and others at risk? Clearlake Capital Partners VII is a 2021 vintage buyout fund managed by Clearlake Capital Group. [3][13] WhiteStar Asset Management serves as the credit platform of Clearlake. Several innovations have changed the e-commerce experience for both consumers and brands. Over recent years, the space has exhibited growth across various avenues, compounded by investment from new and established players. ("Clearlake," "Genera l Partner") was founded in 2006 as a sector -focused investment firm specializngi in private equity, specai l situations and opportunistic credit . This all-weather approach allows us to act nimbly during evolving market conditions, including taking advantage of periodic dislocations in the debt capital markets," said Jos E. Feliciano,Co-Founder and Managing Partner at Clearlake. Credit Suisse Private Fund Groupacted as the primary placement agent for Fund VII, and Kirkland & Ellis LLP served as legal adviser for the Fund. Get the full list, Morningstar Institutional Equity Research. With the closing of Fund VII, Clearlake has more than $72 billion of assets under management and will continue to leverage its current investment strategy with Fund VII of flexible and creative deployment of capital into the technology, industrial and consumer sectors. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. Related by financial asset: Clearlake Capital, Related by origin of wealth: Private equity. Jose E. Feliciano cofounded Clearlake Capital in 2006 with Behdad Eghbali; both men are managing partners. /axoT)2Aeq97qZ/bHr/@83R-}Z_$#&%C%BcqMs8e:&jg44i58FbApnXgOtD"bR9GPfCO/$Hn\/v_IJI0?I>(8M;Siw8~GnWGl4-mY&, . iFund 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. [3], In 2015, Chang left the firm leaving Eghbali and Feliciano as the remaining managing partners. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Clearlake and Motive Partners assume no obligation to update any forward-looking statements, which speak only as of the date of this news release. Forward Looking StatementsThis news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the expected timing and benefits of the transaction. [2][3][4][5] The firm is headquartered in Santa Monica with affiliates in Dallas, London and Dublin. from 8 AM - 9 PM ET. [10] After the company underwent significant restructuring including cost-cutting, Clearlake sold the company to Invus Group for more than $140 million in 2016. The deal is formally expected to be announced as soon as Monday, the report added. 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.. 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 Nov 28 (Reuters) - Private equity firm Clearlake Capital has struck a deal to buy Quest Software Inc from Francisco Partners, valuing it at $5.4 billion including debt, the Wall Street Journal reported on Sunday, citing people familiar with the matter. 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. Total capital raised by Clearlake since January 2021 exceeds $27 billion, which includes COP III, Fund VII, the Firm's continuation and co-investment funds, and capital raised by WhiteStar Asset Management, LLC, the CLO, structured products and broadly syndicated credit arm of Clearlake. [8][9], Clearlake Capital was founded in 2006 by Steven Chang, Behdad Eghbali and Jos E. Clearlake's investment professionals include two Managing Partners, three additional Partners, six Managing Directors, two Vice Presidents, nine Associates, and two analysts. We also use third-party cookies that help us analyze and understand how you use this website. COP III was oversubscribed (including commitments from the General Partner and affiliates) and exceeded its $1.5 billion target with support from existing and new limited partners. [17] In 2016 Clearlake, took a controlling stake in Vision Solutions. from 8 AM - 9 PM ET. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Clearlake Capital and Motive Partners to acquire BETA, Maxit, and Digital Investor from LSEG, adding new capabilities to their wealth ecosystem, and forms a strategic partnership between BETA+ . 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. Statements can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "could," "should," or words of similar meaning. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. 2018 Cohesive Capital. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin. Clearlake Capital Partners VI is a 2020 vintage buyout fund managed by Clearlake Capital Group. 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. 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. 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. 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. 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. We believe that our flexible investment strategy incorporating buyouts, corporate carveouts, and special situations is positioned to take advantage of the evolving and potentially unstable market conditions that we are likely to encounter in the investment period of Fund VII. The investment More information on Motive Partners can be found at www.motivepartners.com. 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. Booker T talks the WWE Draft, hosting WWE's Most Wanted Treasures and AEW All In. 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. COP III has already led investments in AMCS, a global supplier of integrated cloud-based software and vehicle technology for the environmental, utilities, waste, recycling, and resource industries, and Chelsea Football Club, a professional football club that competes in the Premier League, the top division of English football. [3][5][6][7] Clearlake, which owns about 60% of Chelsea, would share joint control and equal governance of the club with Boehly.[5]. Our Standards: The Thomson Reuters Trust Principles. $2.5 billion, according to our most recent tally. The fund is located in Santa Monica California and invests in Asia, Middle East, Europe, United States, North America and South America. The support from both existing and new limited partners is especially humbling given the backdrop of the last two years, and were grateful for their ongoing support, said Behdad Eghbali,Co-Founder and Managing Partner at Clearlake. 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. Industry Group Health Care Biotechnology Health Insurance Hospitals & Physicians See here for a complete list of exchanges and delays. 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 WSJ report added that Clearlake was paying 10.9 times Quest's earnings before interest, taxes, depreciation and amortization for the last 12 months. This is a profile preview from the PitchBook Platform. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Donald Trumps lawyer is asking the judge for a mistrial in a civil rape case against the former president, citing frustration with what the judge admonished in court and prevented him from questioning accuser E. Jean Carroll about. Clearlake and Motive continue to execute on a similar thesis with their existing portfolio company, InvestCloud. 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 (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. Clearlake's innovation comes as GPs seek ways to achieve longer holds on businesses where they see more room for growth. More information is available at www.clearlake.com and on Twitter @Clearlake. Clearlake Capital Wraps Up Latest Fund With $14.1 Billion The firm has quadrupled its assets under management to about $72 billion since its predecessor flagship fund closed in 2020 Jos E.. 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. It is mandatory to procure user consent prior to running these cookies on your website. May 18, 2022 More information is available at www.clearlake.comand on Twitter @Clearlake. endstream endobj 700 0 obj <>stream 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? All rights reserved. [3] Many investors chose to roll their holdings instead. By continuing to browse, you hereby agree to the use of cookies. 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. The firm is headquartered in Santa Monica, CA. Let's explore them and the best practices brands should use to take advantage of them. __dcid.push({"cid":"DigiCertClickID_vnR-yZZg","tag":"vnR-yZZg","seal_format":"dynamic"}); Jose Mourinho has been a perfect fit for Roma, instilling them with a confidence and a mentality that had been lacking. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. Investor Contact:Patrick GilliganClearlake Capital Group, L.P.310-400-8844[emailprotected], Media Contact:Jennifer HursonLambert845-507-0571[emailprotected]. Language links are at the top of the page across from the title. COP III led the Chelsea Football Club investment on behalf of Clearlake's affiliated funds and other partners. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. [17][18], In October 2021, the firm acquired Cornerstone OnDemand a NASDAQ listed software company for $5.2 billion and took the company private. 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. 86% of retail CFD accounts lose money, https://www.prnewswire.com/news-releases/clearlake-capital-closes-clearlake-opportunities-partners-iii-with-more-than-2-5-billion-in-commitments-301628078.html, Registration on or use of this site constitutes acceptance of our. 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. More than $25 billion in capital has been raised by Clearlake since January 2021, which includes nearly $7 billion raised in four continuation funds. This category only includes cookies that ensures basic functionalities and security features of the website. "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.". When typing in this field, a list of search results will appear and be automatically updated as you type. 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. To explore Clearlake Capital Partners VIIs full profile, request access. for $3 billion. Bachelor of Engineering, Princeton University; Master of Business Administration, Stanford University. All rights reserved. "We're also thankful to the larger Clearlake team of investment professionals, portfolio company management teams, and employees who have worked diligently to find creative solutions in a time of so much disruption. 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. Exclusive news, data and analytics for financial market professionals, Reporting by Baranjot Kaur and Shubham Kalia in Bengaluru; Editing by Rashmi Aich, Australian miner Liontown confirms no new bids; resumes trading, Regulators seize First Republic Bank, sell assets to JPMorgan, Vice Media preparing to file for bankruptcy - NYT, JPMorgan deal forces Biden administration to defend record on mergers, Coffee at home: Australia Woolworths' sales jump as shoppers cut costs, Djokovic able to play at US Open as vaccine mandate set to end, Stocks on edge as traders wait on central bankers, Kudermetova to remove Russian sponsor logo to play at Wimbledon, Indian shares set for muted open ahead of Fed rate decision. 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. 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 The deal is expected to close in the second half of 2022, subject to regulatory approvals and other customary closing conditions. Win whats next. 2018 Cohesive Capital. It's early, but the club's big offseason free agent acquisition is performing far below his accustomed standard. 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. Notable realizations over the past two years include ConvergeOne, Lytx, Perforce, and Sage Automotive. [10], In 2015, Clearlake took a controlling stake in Syncsort. 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 . Feliciano worked in investment banking at Goldman Sachs and was the chief financial officer of govWorks before it declared bankruptcy in 2000. Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. 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. var __dcid = __dcid || []; The fund is located in Santa Monica California and invests in North America. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. [3] It is a technique where Clearlake will find another private equity firm to buy a large portion of one of its existing investments and then offer investors a chance to sell at a new valuation or roll their stake into a new fund that will hold the investment for a few more years. Clearlake is a leading private investment firm founded in 2006. To explore Clearlake Capital Partners VIs full profile, request access. 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. "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.". 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. This website uses cookies to improve your experience while you navigate through the website. In May, Clearlake announced it had raised more than$14.1 billionfor its seventh flagship private equity fund, Clearlake Capital Partners VII. [17][18] In 2020 the merged company rebranded to Precisely. CC4b!ihbF fhHf} eB7>_KBv!uU? Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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. Forward-looking statements are subject to assumptions, risks and uncertainties that may cause actual results to differ materially from those contemplated by such forward-looking statements. 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 . 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. Donald Trumps real net worth? This is a profile preview from the PitchBook Platform. Credit Suisse acted as advisor and placement agent for COP III, and Paul Weiss served as legal advisor for the Fund. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. About Charlesbank Capital Partners Based in Boston and New York, Charlesbank Capital Partners is a. Fund VIIs announced platform investments include Cornerstone OnDemand, Concert Golf, Discovery Education, Intertape Polymer Group, Kofax, Mold-Rite Packaging, Quest Software and Springs Window Fashions. Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. More information is available atwww.clearlake.comand on Twitter@Clearlake. We are very proud of the results generated by our funds in the context of a volatile macroeconomic backdrop in the past few years while experiencing significant growth and maintaining our focus on the fundamentals of our investment approach. [2][3][4][5] The strategy was to shift between buyouts and distressed securities depending on economic conditions. ", "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. These cookies will be stored in your browser only with your consent. In May 2022, Clearlake Capital joined billionaire investor Todd Boehly to buy English soccer team Chelsea FC; the firm is known for buying software, industrial and consumer products companies. Necessary cookies are absolutely essential for the website to function properly.
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