Clearlake Capital Group raises $1.4bn

The US-based private investment firm closes non-control structured equity and credit fund at hard-cap.

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Clearlake Capital Group has held a final close for Clearlake Opportunities Partners II at its $1.4 billion hard-cap, surpassing the original target of $1 billion. The fund will make non-control investments in mid-market companies operating in software and technology-enabled services, industrials, energy, and consumer goods.

The Illinois Municipal Retirement Fund, Alaska Permanent Fund, and Pennsylvania Public School Employees’ Retirement System are among the more than 40 investors committed to COP II. The remaining investors are made up of pension funds, sovereign wealth funds, insurance companies, foundations, endowments, and family offices.

Credit Suisse provided exclusive placement agent services for the fund, and Paul, Weiss Rifkind, Wharton & Garrison acted as the legal adviser.