[10] After the company underwent significant restructuring including cost-cutting, Clearlake sold the company to Invus Group for more than $140 million in 2016. 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. ("Clearlake," "Genera l Partner") was founded in 2006 as a sector -focused investment firm specializngi in private equity, specai l situations and opportunistic credit . 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. Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. Clearlake and Motive Partners assume no obligation to update any forward-looking statements, which speak only as of the date of this news release. 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. 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. We also use third-party cookies that help us analyze and understand how you use this website. 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. More than $25 billion in capital has been raised by Clearlake since January 2021, which includes nearly $7 billion raised in four continuation funds. 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. Reflects change since 5 pm ET of prior trading day. 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. 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. 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. You also have the option to opt-out of these cookies. 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. 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. 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. COP III led the Chelsea Football Club investment on behalf of Clearlake's affiliated funds and other partners. 2023 PitchBook. All rights reserved. Clearlake Capital (Clearlake) is a private equity firm founded in 2006 that focuses on the technology, industrial and consumer sectors. When typing in this field, a list of search results will appear and be automatically updated as you type. Clearlake Capital. Get the full list for $3 billion. 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. 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. PitchBook helps you see a funds investments based on target industry, year and deal typeso you can quickly understand its strategy at a glance. 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. [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. 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? Get the full list Want detailed data on 3M+ companies? More information is available at www.clearlake.com and on Twitter @ Clearlake. All quotes delayed a minimum of 15 minutes. Oversubscribed COP III Fund Invests Using an All-Weather Strategy by Providing Flexible Equity and Credit Solutions. [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. from 8 AM - 9 PM ET. "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. In 2017, Clearlake raised more than $3.6 billion for Clearlake Capital Partners V, L.P. All rights reserved. endstream endobj 700 0 obj <>stream Comments are Off, Oversubscribed Fund VII to Continue Utilizing Consistent Investment Strategy Focused on Core Technology, Industrials and Consumer Sectors. 2023 PitchBook. [12], In June 2020, Clearlake acquired a majority interest in WhiteStar Asset Management from Pine Brook Road Partners. Get the full list, To view Clearlake Capital Partners VIs complete team members history, request access, Youre viewing 5 of 78 funds. 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. "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.". The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. 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+". Gibson, Dunn & Crutcher LLP also acted as legal counsel for Motive Partners. By Marvin Larin Investor. 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 Clearlake Capital Partners VI Investments (9) You're viewing 5 of 9 investments. 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. Feliciano. All rights reserved. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. We would like to thank our diverse group of investors for their confidence in our team and their continued support. 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. Clearlakes operational improvement approach is O.P.S. Operations. Language links are at the top of the page across from the title. [11][12] The purpose of the sale was to fund the creation of a credit unit. 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. Industry Group Health Care Biotechnology Health Insurance Hospitals & Physicians The new Rift fat tire ebike from Ride1Up is the epitome of adventure that proudly exhibits a robust design for both Step-Through and Step-Over frame options. To explore Clearlake Capital Partners VIIs full profile, request access. The private equity firm is based in Santa Monica, California. a0+#DA:@3b$q)P*wy`4k>+79^&ju&x-pC.+AWx Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. May 18, 2022 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. Clearlake Capital Partners VI is a 2020 vintage buyout fund managed by Clearlake Capital Group. American private equity firm based in Santa Monica, "Clearlake Capital hits fundraising trail minus a founder | Buyouts", "Clearlake, the US buyout group behind the Chelsea bid", "Clearlake Capital Wraps Up Latest Fund With $14.1 Billion", "Clearlake Follows Its Chelsea Deal With A $14.1 Billion Buyout Fund", "Wall Street Brings Its Financial Engineering to English Football", "Consortium led by Todd Boehly and Clearlake Capital completes acquisition of Chelsea Football Club", "PEI 300 2022: KKR beats the crowd to claim PEs throne", "The Fall and Rise of a Plus-Size Empire", "Clearlake Capital sells 20% stake to 3 alternatives fund managers", "Clearlake Attracts Minority Investment From Dyal, Goldman, Landmark", "Clearlake Capital purchases majority stake in WhiteStar Asset Management", "Clearlake Capital closes Clearlake Opportunities Partners III with more than $2.5 billion in commitments", "Clearlake Capital closes seventh flagship private equity fund with more than $14.1 billion in commitments", "Clearlake Re-Acquires Precisely In $3.5 Billion Deal", "Two private equity firms take control of U.S. software company Precisely in $3.5 billion deal: source", "Clearlake Capital to take Cornerstone OnDemand private for $3.8 billion", "In $5.2B deal, Cornerstone OnDemand goes private | TechTarget", Private investment in public equity (PIPE), Taxation of private equity and hedge funds, Private equity and venture capital investors, https://en.wikipedia.org/w/index.php?title=Clearlake_Capital&oldid=1152384386, Financial services companies of the United States, Financial services companies established in 2006, Companies based in Santa Monica, California, Private equity firms of the United States, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 29 April 2023, at 22:49. 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. Your brand's success hinges on how effectively you can wow potential customers online. 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]. 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. [1] [3] [4] [5] Fund 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. "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. Our Standards: The Thomson Reuters Trust Principles. These cookies do not store any personal information. The firm is headquartered in Santa Monica, CA. Related by financial asset: Clearlake Capital, Related by origin of wealth: Private equity. 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. 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. These cookies do not store any personal information. (function(){var cid=document.createElement("script");cid.async=true;cid.src="//seal.digicert.com/seals/cascade/seal.min.js";var s = document.getElementsByTagName("script");var ls = s[(s.length - 1)];ls.parentNode.insertBefore(cid, ls.nextSibling);}()); We use cookies to enhance your user experience. Principal Place of Business and Contact Information 3. This has presented opportunities for well-placed investors and innovators to digitize legacy technology, expand product offerings to address unmet demand, and create efficiencies along the value chain. [3], In 2015, Chang left the firm leaving Eghbali and Feliciano as the remaining managing partners. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. 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. By continuing to browse, you hereby agree to the use of cookies. More information is available at www.clearlake.com and on Twitter @Clearlake. More information is available at www.clearlake.com and on Twitter @Clearlake. But opting out of some of these cookies may affect your browsing experience. Clearlake's team consists of 59 professionals, including 24 investment professionals. 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. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX and London, UK. This category only includes cookies that ensures basic functionalities and security features of the website. 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. 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. 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. To explore Clearlake Capital Partners VIs full profile, request access. through deep industry knowledge, operational expertise, flexible solutions, and long-term partnerships. [3] Many investors chose to roll their holdings instead. The growth of mobile commerce has been remarkable in recent years, and it shows no signs of slowing down. __dcid.push({"cid":"DigiCertClickID_vnR-yZZg","tag":"vnR-yZZg","seal_format":"dynamic"}); (PRNewsfoto/Centroid Investment Partners,Clearlake Capital Group) Confluence, backed by Clearlake Capital and TA Associates, welcomes longtime asset management executive Joan Binstock to board of directors. var __dcid = __dcid || []; 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. About ClearlakeClearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. Jose Mourinho has been a perfect fit for Roma, instilling them with a confidence and a mentality that had been lacking. "The support from both existing and new limited partners is especially humbling given the backdrop of the last two years, and we're grateful for their ongoing support," said Behdad Eghbali, Co-Founder and Managing Partner at Clearlake. Feliciano and his wife have committed $50 million in grants and impact investments to support entrepreneurs from underrepresented groups. Clearlake's innovation comes as GPs seek ways to achieve longer holds on businesses where they see more room for growth. More than $25 billion in capital has been raised by Clearlake since January 2021, which includes nearly $7 billion raised in four continuation funds. 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. 2018 Cohesive Capital. Strategy. Win whats next. The investment 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. Notable realizations over the past two years include ConvergeOne, Lytx, Perforce, and Sage Automotive. These cookies will be stored in your browser only with your consent. Significant experience across Clearlakes Clearlake currently has over $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. Clearlake is a leading private 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.". Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. The Club at Renaissance, Concert Golf's most recent acquisition, is located within an exclusive South Florida community. When typing in this field, a list of search results will appear and be automatically updated as you type. More information is available atwww.clearlake.comand on Twitter@Clearlake. All Rights Reserved. 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. The firm is headquartered in Santa Monica, CA. Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology. 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. Clearlake Capital Group LP said it struck a deal to buy Quest Software Inc. from Francisco Partners in the latest sign of private-equity firms' voracious appetite for software. Get the full list, To view Clearlake Capital Partners VIIs complete team members history, request access, Youre viewing 5 of 78 funds. Youre viewing 5 of 8 investments. This website uses cookies to improve your experience while you navigate through the website. Get the full list, Youre viewing 5 of 55 limited partners. Clearlake Capital (Clearlake) is a private equity firm founded in 2006 that focuses on the technology, industrial and consumer sectors. 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. 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. Feliciano worked in investment banking at Goldman Sachs and was the chief financial officer of govWorks before it declared bankruptcy in 2000. [2][3][4][5] The strategy was to shift between buyouts and distressed securities depending on economic conditions. 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 Clearlake currently has over $60 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. You also have the option to opt-out of these cookies. Investor Contact: READ MORE ABOUT OUR HISTORY INDUSTRY FOCUS Significant experience across Clearlake's core sectors - Software & Technology, Energy & Industrials, Food & Consumer Services Explore our sectors NEWS First Quarter 2023 Investment Activity View all news [10], In 2015, Clearlake took a controlling stake in Syncsort. This information is available in the PitchBook Platform. investment firm founded in 2006. For more information, visit our Privacy Policy. The fund targets information technology, industrial, consumer products and services sectors. "With COP III, Clearlake has the ability to partner with attractive businesses looking for bespoke capital solutions, while providing our investors with a combination of capital preservation and attractive contractual yields, plus potential equity or equity-like upside. /axoT)2Aeq97qZ/bHr/@83R-}Z_$#&%C%BcqMs8e:&jg44i58FbApnXgOtD"bR9GPfCO/$Hn\/v_IJI0?I>(8M;Siw8~GnWGl4-mY&, . Quest provides software solutions to IT departments spanning from database management to data protection. Investor Contact:Patrick GilliganClearlake Capital Group, L.P.310-400-8844[emailprotected], Media Contact:Jennifer HursonLambert845-507-0571[emailprotected]. [17][18], In October 2021, the firm acquired Cornerstone OnDemand a NASDAQ listed software company for $5.2 billion and took the company private. All rights reserved. The private equity firm is based in Santa Monica, California. Donald Trumps lawyer is asking the judge for a mistrial in a civil rape case against the former president, citing frustration with what the judge admonished in court and prevented him from questioning accuser E. Jean Carroll about. Limited partners in COP III include institutional investors from Asia, Europe, and North America, and represent a diverse group of public and corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments, and family offices. For more information, visit our Privacy Policy. x[O@I,c9$A fJv/6{Qf)(~S!(prr|u!==nVJR2A This is a profile preview from the PitchBook Platform. You should consider these factors carefully in evaluating forward-looking statements and are cautioned not to place undue reliance on such statements. Clearlake Capital Group,in a bid to hold certain assets longer than allowed under traditional private equity fund limits, has created a series of vehicles for longer holds over individual assets out of older funds. 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 Jose E. Feliciano cofounded Clearlake Capital in 2006 with Behdad Eghbali; both men are managing partners. We remain focused on investing in companies at attractive price points that can benefit from our buy-and-build and organic growth strategies that best position our companies and our investors for long-term success.. 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+ . 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. Clearlake Capital Partners VII is a 2021 vintage buyout fund managed by Clearlake Capital Group. Donald Trump Seeks Mistrial In E. Jean Carroll Rape Trial, The Evolution Of E-Commerce And What It Means For Content Creation, Building Out A Mobile Strategy: What E-Commerce Brands Must Consider, Booker T Wants To See Grayson Waller Get Drafted, Talks A&E Hosting Role, Astros Jose Abreu Is A Contender For MLBs Least Valuable Player So Far This Season, E. 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