"It is gratifying to have the support of such a large group of global investors, which we believe is further validation of our consistent investment strategy," said Jos E. Feliciano,Co-Founder and Managing Partner at Clearlake. [3] It discovered this technique during the COVID-19 pandemic when it sold shares of software company Ivanti to TA Associates in August 2020 at a valuation of $2 billion that generated a large windfall gain. People. 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.". The fund targets information technology, industrial, consumer products and services sectors. Strategy. In 2017, Clearlake raised more than $3.6 billion for Clearlake Capital Partners V, L.P. [2][10], In May 2018, Clearlake sold a minority stake of up to 20% of its shares to Dyal Capital, Petershill Partners and Landmark Partners. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. Booker T talks the WWE Draft, hosting WWE's Most Wanted Treasures and AEW All In. Clearlake and Motive's thesis in wealth management technology focuses on providing the Wealth Management industry with frictionless digital experiences, catalyzing the democratization of wealth solutions, and delivering hyper-personalized solutions to end clients. Clearlake Capital (Clearlake) is a private equity firm founded in 2006 that focuses on the technology, industrial and consumer sectors. Re: Clearlake Capital Partners VII , L.P. Dear Trustees: Clearlake Capital Group , L .P. [3] In 2021, Charlesbank Capital Partners invested in Ivanti at a valuation of $4 billion. Clearlake's team consists of 59 professionals, including 24 investment professionals. COP III will continue Clearlake's flexible investment strategy of investing in non-control special situations investments, utilizing the Firm's sector-focused approach targeting investments in technology, industrial, and consumer businesses. Get the full list Want detailed data on 3M+ companies? __dcid.push({"cid":"DigiCertClickID_vnR-yZZg","tag":"vnR-yZZg","seal_format":"dynamic"}); "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 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. Notable realizations over the past two years include ConvergeOne, Lytx, Perforce, and Sage Automotive. More information is available atwww.clearlake.comand on Twitter@Clearlake. [17][18] In 2020 the merged company rebranded to Precisely. More information is available at www.clearlake.com and on Twitter @Clearlake. Let's explore them and the best practices brands should use to take advantage of them. Clearlake currently has more than $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. It is mandatory to procure user consent prior to running these cookies on your website. The private equity firm is based in Santa Monica, California. We're looking forward to partnering with Clearlake once again to continue our transformation of the wealth management sector at a critical time for the industry," said Stephen C. Daffron, Co-Founder and Industry Partner of Motive Partners. core sectors Software & Technology, Energy & Industrials, Food & Consumer Services. __dcid.push({"cid":"DigiCertClickID_vnR-yZZg","tag":"vnR-yZZg","seal_format":"dynamic"}); As such, there can be no assurance the investment will achieve its investment objectives or avoid losses, and past performance is not necessarily indicative of future results. About Clearlake CapitalClearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. To explore Clearlake Capital Partners VIIs full profile, request access. For more information, visit our Privacy Policy. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. investment firm founded in 2006. 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. Win whats next. Limited partners in COP III include institutional investors from Asia, Europe, and North America, and represent a diverse group of public and corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments, and family offices. [1][3][4][5], The firm is the owner of Chelsea F.C. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. Feliciano and his wife have committed $50 million in grants and impact investments to support entrepreneurs from underrepresented groups. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. Cision Distribution 888-776-0942 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. Comments are Off, Oversubscribed Fund VII to Continue Utilizing Consistent Investment Strategy Focused on Core Technology, Industrials and Consumer Sectors. Confluence, backed by Clearlake Capital and TA Associates, welcomes longtime asset management executive Joan Binstock to board of directors. 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. 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 [2][3][4][5] The firm is headquartered in Santa Monica with affiliates in Dallas, London and Dublin. 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? About Motive PartnersMotive Partners is a specialist private equity firm with offices in New York City and London, focusing on control-oriented growth equity and buyout investments in software and information services companies based in North America and Europe and serving five primary subsectors: Banking & Payments, Capital Markets, Data & Analytics, Investment Management and Insurance. Differentiated approach to investing What you see here scratches the surface Request a free trial Want to dig into this profile? Necessary cookies are absolutely essential for the website to function properly. Hes nowhere near as rich as he boasts, nor as poor as his critics claim. Realizations across the Clearlake platform in 2021 include American Construction Source, Appriss, DigiCert, Ivanti, NetDocuments, Janus International, Precisely, Provation, symplr, Wheel Pros and investments under Clearlakes Better For You platform. This information is available in the PitchBook Platform. It is gratifying to have the support of such a large group of global investors, which we believe is further validation of our consistent investment strategy, said Jos E. Feliciano,Co-Founder and Managing Partner at Clearlake. See here for a complete list of exchanges and delays. [8][9], Clearlake Capital was founded in 2006 by Steven Chang, Behdad Eghbali and Jos E. ", "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. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin. All rights reserved. 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 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. As of December 31, 2021, Fund VIIs 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]. Get the full list, To view Clearlake Capital Partners VIs complete team members history, request access, Youre viewing 5 of 78 funds. In this article, I will outline some strategies for leaders to take into consideration for optimal success when seeking to implement this popular and evolving AI technology in their own operations. 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. Donald Trumps real net worth? 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. When typing in this field, a list of search results will appear and be automatically updated as you type. [3] This allowed the firm to take advantage of the 20072008 financial crisis to acquire distressed securities and then sell them for a profit after recovery. To explore Clearlake Capital Partners VIs full profile, request access. 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. Necessary cookies are absolutely essential for the website to function properly. Were 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. We also use third-party cookies that help us analyze and understand how you use this website. The investment Credit Suisse acted as advisor and placement agent for COP III, and Paul Weiss served as legal advisor for the Fund. Clearlake and Motive Partners assume no obligation to update any forward-looking statements, which speak only as of the date of this news release. [19][20], On May 30, 2022, a consortium of investors co-led by Clearlake and Todd Boehly acquired Chelsea F.C. SANTA MONICA, Calif. and NEW YORK and LONDON, March 21, 2022 /PRNewswire/ -- Clearlake Capital Group, L.P. ("Clearlake") and Motive Partners ("Motive" and collectively, the "Sponsors"), today announced that they have entered into a definitive agreement to acquire the BETA+ assets from London Stock Exchange Group ("LSEG"), which encompasses the assets of BETA (securities processing, custody, clearing, and asset servicing technology), Maxit (cost and tax basis reporting software), and Digital Investor (front-end client solutions), collectively referred to as "BETA+". from 8 AM - 9 PM ET. Realizations across the Clearlake platform in 2021 include American Construction Source, Appriss, DigiCert, Ivanti, NetDocuments, Janus International, Precisely, Provation, symplr, Wheel Pros and investments under Clearlake's Better For You platform. 2018 Cohesive Capital. [17] In 2017, Clearlake sold both companies to Centerbridge Partners for $1.26 billion and were merged. It is mandatory to procure user consent prior to running these cookies on your website. Clearlake's investment professionals include two Managing Partners, three additional Partners, six Managing Directors, two Vice Presidents, nine Associates, and two analysts. As such, there can be no assurance the investment will achieve its investment objectives or avoid losses, and past performance is not necessarily indicative of future results. 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. But are they safe, or are they putting riders and others at risk? 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. Clearlake Overview Sector focused investment firm, founded in 2006, that targets investments in special situations, private equity, and opportunistic credit ~ $9.0B of regulatory assets under management Across six funds plus co-invest vehicles 55+ employees Experienced team of investment and operating professionals Quest was part of Dell's software division, which the company divested in 2016 to focus on its technology portfolio and bolster its balance sheet after it agreed in October to buy data storage company EMC for $67 billion. x[O@I,c9$A fJv/6{Qf)(~S!(prr|u!==nVJR2A It's early, but the club's big offseason free agent acquisition is performing far below his accustomed standard. More information is available at www.clearlake.com and on Twitter @Clearlake. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. 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. Credit Suisse Private Fund Groupacted as the primary placement agent for Fund VII, and Kirkland & Ellis LLP served as legal adviser for the Fund. Jose E. Feliciano cofounded Clearlake Capital in 2006 with Behdad Eghbali; both men are managing partners. 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. Yet that doesn't mean he'll stay beyond the summer. By continuing to browse, you hereby agree to the use of cookies. In May, Clearlake announced it had raised more than$14.1 billionfor its seventh flagship private equity fund, Clearlake Capital Partners VII. Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. [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 growth of mobile commerce has been remarkable in recent years, and it shows no signs of slowing down. Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. [3] Many investors chose to roll their holdings instead. The firm is headquartered in Santa Monica, CA. This category only includes cookies that ensures basic functionalities and security features of the website. [17][18], In October 2021, the firm acquired Cornerstone OnDemand a NASDAQ listed software company for $5.2 billion and took the company private. 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. SANTA MONICA, CA May 18, 2022 Clearlake Capital Group, L.P. (Clearlake), an investment firm that focuses on technology, industrials, and consumer industries, announced today it has completed fundraising for its seventh flagship private equity fund, Clearlake Capital Partners VII (Fund VII), with more than $14.1 billion in commitments. var __dcid = __dcid || []; The deal is expected to close in the second half of 2022, subject to regulatory approvals and other customary closing conditions. Clearlakes operational improvement approach is O.P.S. Operations. Clearlake currently has more than $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. 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. More information is available atwww.clearlake.comand on Twitter@Clearlake. 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Youre viewing 5 of 8 investments. This website uses cookies to improve your experience while you navigate through the website. 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.. The Sponsors are also focused on the long-term strategic partnership between BETA+, the Sponsors' other portfolio companies and LSEG, to offer new products and greater operational efficiencies to clients across these various platforms. "BETA+, together with our other portfolio companies, will be focused on creating frictionless, digital-first experiences for clients, advisors, and home office personnel with streamlined processes, reduced costs, and increased retention and satisfaction, ultimately making it easier for Wealth clients to obtain solutions which address their financial needs. More information is available at www.clearlake.com and on Twitter @ClearlakeCap. Reflects change since 5 pm ET of prior trading day. Industry Group Health Care Biotechnology Health Insurance Hospitals & Physicians [3], In 2014, Clearlake acquired the women's clothing company Ashley Stewart for $18 million after it had recently filed for bankruptcy. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. About ClearlakeClearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. 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.