Clearlake, Charlesbank and Fortress recap collegiate sports marketing firm Learfield

• Through this transaction, Learfield has reduced its outstanding debt by over $600 million and secured $150 million in new equity investment
• Alvarez & Marsal served as financial advisor to Learfield while BRG served as financial advisor to the group of revolving lenders
• Headquartered in Santa Monica, California, Clearlake has over $70 billion of assets under management

Clearlake Capital Group, Charlesbank Capital Partners and Fortress Investment Group have recapitalized Learfield, a collegiate sports marketing company based in Plano, Texas.

Learfield’s prior equity holders will retain an equity stake in the company.

Through this transaction, Learfield has reduced its outstanding debt by over $600 million and secured $150 million in new equity investment.

“We are excited to work with Cole and the Learfield leadership team and support their strategic vision,” said James Pade, a partner and managing director at Clearlake in a statement. “We believe that this transaction, Clearlake’s O.P.S.® resources, and the new capital provided will advance Learfield’s position in college athletics and fuel the Company’s ability to create opportunities for schools and brands to build new communities and experiences for college sports fans.”

Alvarez & Marsal served as financial advisor to Learfield while BRG served as financial advisor to the group of revolving lenders.

Headquartered in Santa Monica, California, Clearlake has over $70 billion of assets under management.

Based in Boston and New York, Charlesbank Capital Partners invests in the middle market. The firm has raised more than $15 billion of capital since inception.