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Alternative Market Briefing

Clearlake Capital wraps up its seventh flagship fund with $14.1bn

Thursday, May 19, 2022

Laxman Pai, Opalesque Asia:

Clearlake Capital Group, an investment firm that focuses on technology, industrials, and consumer industries, closed its seventh flagship private equity fund, Clearlake Capital Partners VII, at its hard cap of more than $14.1 billion, outpacing a $10 billion target.

Clearlake's latest fund is about twice as large as its predecessor, Clearlake Capital Partners VI, which closed in 2020 with more than $7 billion, said a press release from the investment firm focused on private equity and special situation transactions.

Clearlake conducted the latest fundraising largely virtually in roughly five to seven months, and the firm added over 50 new investors, although more than 95% of investors in the prior fund also committed capital, according to José E. Feliciano, co-founder and managing partner.

Limited partners in Fund VII represent a diverse group of public and corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments, and family offices. 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, the Middle East, Europe, and North and South America.

Investors in Clearlake Capital Partners VII include Texas Teacher Retirement System, Austin; State of Wisconsin Investment......................

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