Clearlake Capital Group has closed its Clearlake Opportunities Partners III with $2.5 billion in commitments, exceeding its $1.5 billion target.
The fund will continue Clearlake’s investment strategy of investing in non-control special situations investments, focusing on consumer businesses, technology and industrial sectors. Partners in COP III represent public and corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments and family offices across Asia, Europe and North America.
“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,” says Behdad Eghbali, co-founder and managing partner at Clearlake. “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, and Paul Weiss served as legal advisor for the Fund.