endstream endobj 700 0 obj <>stream The firm is headquartered in Santa Monica, CA. Clearlake Capital and Motive Partners Agree to Acquire BETA+ from 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 Industry Group Health Care Biotechnology Health Insurance Hospitals & Physicians 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. More information is available atwww.clearlake.comand on Twitter@Clearlake. Get the full list 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. Get the full list, Youre viewing 5 of 55 limited partners. Feliciano worked in investment banking at Goldman Sachs and was the chief financial officer of govWorks before it declared bankruptcy in 2000. [11][12] The purpose of the sale was to fund the creation of a credit unit. The firm is headquartered in Santa Monica, CA. Clearlake Capital and Motive Partners Agree to Acquire BETA+ from 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. Your brand's success hinges on how effectively you can wow potential customers online. 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. 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. Necessary cookies are absolutely essential for the website to function properly. Clearlake and Motive continue to execute on a similar thesis with their existing portfolio company, InvestCloud. This information is available in the PitchBook 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. 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. 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 II Investments (13) You're viewing 5 of 13 investments. [3] Many investors chose to roll their holdings instead. 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. For more information, visit our Privacy Policy. 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. [3][13], In recent years Clearlake has become the biggest user of GP-led secondaries. 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. 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 . Clearlake Capital Partners VII Profile: Investments & Returns | PitchBook These cookies will be stored in your browser only with your consent. 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? Clearlake Capital and Siris-Backed Constant Contact Names Software 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. Clearlake is a leading private investment firm founded in 2006. These cookies do not store any personal information. Get the full list, Morningstar Institutional Equity Research. Let's explore them and the best practices brands should use to take advantage of them. 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.". 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.. 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. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. 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+". "BETA+ has established a strong position in the self-clearing technology space and broader wealth management ecosystem with a reputation for meeting the unique needs of global financial institutions and their clients," said Behdad Eghbali, Co-Founder and Managing Partner, and James Pade, Partner of Clearlake. 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. "A multi-pronged, agile investment approach has been a tenet of the Firm since our founding 16 years ago, and COP III is the perfect complement to our recently closed flagship Fund VII. Principal Place of Business and Contact Information 3. You also have the option to opt-out of these cookies. Feliciano. Clearlake Capital Wraps Up Latest Fund With $14.1 Billion We also use third-party cookies that help us analyze and understand how you use this website. This is a profile preview from the PitchBook Platform. 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. Several innovations have changed the e-commerce experience for both consumers and brands. [3][5][6][7] Clearlake, which owns about 60% of Chelsea, would share joint control and equal governance of the club with Boehly.[5]. [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. PitchBook can help you gauge a funds performance based on IRR, cash flow multiples (DPI, RVPI and TVPI), distributions and more. Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile. "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. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. [1] [3] [4] [5] The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX and London, UK. 2023 PitchBook. where in May 2022, it acquired 60% of the clubs outstanding shares. To explore Clearlake Capital Partners VIIs full profile, request access. The firm is headquartered in Santa Monica, CA. Cision Distribution 888-776-0942 __dcid.push({"cid":"DigiCertClickID_vnR-yZZg","tag":"vnR-yZZg","seal_format":"dynamic"}); 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 - Wikipedia 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. [10] After the company underwent significant restructuring including cost-cutting, Clearlake sold the company to Invus Group for more than $140 million in 2016. Clearlake's team consists of 59 professionals, including 24 investment professionals. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. More than $25 billion in capital has been raised by Clearlake since January 2021, which includes nearly $7 billion raised in four continuation funds. Clearlake Capital Partners VI Profile: Investments & Returns | PitchBook This website uses cookies to improve your experience while you navigate through the website. from 8 AM - 9 PM ET. 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. For more information, visit our Privacy Policy. 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. Yet that doesn't mean he'll stay beyond the summer. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. "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. 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. 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. Get the full list, Youre viewing 5 of 57 limited partners. 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. More information is available at www.clearlake.comand on Twitter @Clearlake. 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 private equity firm is based in Santa Monica, California. Comments are Off, Oversubscribed Fund VII to Continue Utilizing Consistent Investment Strategy Focused on Core Technology, Industrials and Consumer Sectors. Credit Suisse acted as advisor and placement agent for COP III, and Paul Weiss served as legal advisor for the Fund. 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. 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 But opting out of some of these cookies may affect your browsing experience. Concert Golf Partners, a Portfolio Company of Clearlake Capital, Closes 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. 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. $2.5 billion, according to our most recent tally. More information is available at www.clearlake.com and on Twitter @ Clearlake. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. [3], In 2014, Clearlake acquired the women's clothing company Ashley Stewart for $18 million after it had recently filed for bankruptcy. This is a profile preview from the PitchBook Platform. Re: Clearlake Capital Partners VII , L.P. Dear Trustees: Clearlake Capital Group , L .P. x[O@I,c9$A fJv/6{Qf)(~S!(prr|u!==nVJR2A Bachelor of Engineering, Princeton University; Master of Business Administration, Stanford University. 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. "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. 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+, the Sponsors' portfolio companies and LSEG. Confluence, backed by Clearlake Capital and TA Associates, welcomes longtime asset management executive Joan Binstock to board of directors. Clearlake Capital Group Closes Sixth Flagship Private Equity Investment "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. 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. PDF Clearlake Capital Partners VI, L.P. - Pennsylvania Public School [8][9], Clearlake Capital was founded in 2006 by Steven Chang, Behdad Eghbali and Jos E. In many towns and cities around the world, electric scooters have proliferated. What you see here scratches the surface Request a free trial Want to dig into this profile? 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. ("Clearlake," "Genera l Partner") was founded in 2006 as a sector -focused investment firm specializngi in private equity, specai l situations and opportunistic credit . Clearlake Capital Closes Clearlake Opportunities Partners III with More See here for a complete list of exchanges and delays. Investor Contact:Patrick GilliganClearlake Capital Group, L.P.310-400-8844pgilligan@clearlake.com, Media Contact:Jennifer HursonLambert845-507-0571jhurson@lambert.com, View original content to download multimedia:https://www.prnewswire.com/news-releases/clearlake-capital-closes-clearlake-opportunities-partners-iii-with-more-than-2-5-billion-in-commitments-301628078.html, Plus500. 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. [2][3][4][5] The strategy was to shift between buyouts and distressed securities depending on economic conditions. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. By continuing to browse, you hereby agree to the use of cookies. It is mandatory to procure user consent prior to running these cookies on your website. In 2017, Clearlake raised more than $3.6 billion for Clearlake Capital Partners V, L.P. [3], In 2015, Chang left the firm leaving Eghbali and Feliciano as the remaining managing partners. [17] In 2017, Clearlake sold both companies to Centerbridge Partners for $1.26 billion and were merged. Clearlakes operational improvement approach is O.P.S. Operations. [3][13] WhiteStar Asset Management serves as the credit platform of Clearlake. 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. 2018 Cohesive Capital. [2] [3] [4] [5] The firm is headquartered in Santa Monica with affiliates in Dallas, London and Dublin. investment firm founded in 2006. (PRNewsfoto/Centroid Investment Partners,Clearlake Capital Group) Oversubscribed COP III Fund Invests Using an All-Weather Strategy by Providing Flexible Equity and Credit Solutions. But are they safe, or are they putting riders and others at risk? All rights reserved. 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. Over recent years, the space has exhibited growth across various avenues, compounded by investment from new and established players. Clearlake Capital. 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]. 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 deal is formally expected to be announced as soon as Monday, the report added. Our Standards: The Thomson Reuters Trust Principles. In 2021, Clearlake and TA Associates reacquired Precisely for $3.5 billion. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. 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. Trump has since deleted the posts after the judge said they were inappropriate during the trial. "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. The investment Language links are at the top of the page across from the title. Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. All rights reserved. Feliciano, who was born in Puerto Rico, is on the board of trustees of Stanford University and the Smithsonian National Museum of the American Latino. Clearlake's innovation comes as GPs seek ways to achieve longer holds on businesses where they see more room for growth. Clearlake currently has more than $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. Motive Partners brings differentiated expertise, connectivity and capabilities to create long-term value in financial technology companies. 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. 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 Clearlakes operational improvement approach,O.P.S.The firms core target sectors are technology, industrials, and consumer. Sec Form D Quest provides software solutions to IT departments spanning from database management to data protection. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. Performance watch: Clearlake's PE funds - Private Equity International More information is available at www.clearlake.com and on Twitter @ClearlakeCap. 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. Clearlake Capital Notable realizations over the past two years include ConvergeOne, Lytx, Perforce, and Sage Automotive. More information is available at www.clearlake.com and on Twitter @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.". COP III led the Chelsea Football Club investment on behalf of Clearlake's affiliated funds and other partners. Strategy. Clearlake currently has over $60 billion of assets under management, and its senior investment principals have led or co-led over 300 investments. Clearlake Capital (Clearlake) is a private equity firm founded in 2006 that focuses on the technology, industrial and consumer sectors. SANTA MONICA, Calif., May 18, 2022 /PRNewswire/ -- 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. 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.
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