Firm: Clearlake Capital Group
Fund: Clearlake Capital Partners III LP
Amount Raised: $789 million
Initial Target: $600 million
Placement Agent: Park Hill Group
Legal Counsel: Paul, Weiss, Rifkind, Wharton & Garrison
Clearlake Capital Group, a Los Angeles, Calif.-based firm, closed on its third fund, Clearlake Capital Partners III LP, having raised $789 million in commitments from a number of prominent investors. The closing was announced on Jan. 3, but actually occurred in December.The close was substantially above the fund’s initial $600 million target. Clearlake invests in mid-market companies in a variety of industries, but focuses mainly on turnarounds and reorganizations, especially companies facing difficult financial or operational challenges. Jose Feliciano, Clearlake’s founding ...