NEW YORK, NY – January 20, 2010 – Clearlake Capital Group, L.P. (“Clearlake” or “CCG”) announced today the closing of its second private equity fund, Clearlake Capital Partners II, L.P. (“CCP II” or the “Fund”), with more than $410 million in equity commitments. CCP II was oversubscribed and exceeded its cap.
The Fund invests in special situations, which includes companies undergoing complex financial, operational or structural change. Investors included some of the nation’s largest institutional investors including public and corporate pension funds, financial institutions, insurance companies, endowments and foundations, fund-of-funds and family offices. Clearlake continues to manage and invest Clearlake Capital Partners I, L.P.
Clearlake, founded in 2006 by Steven C. Chang, Behdad Eghbali, and José E. Feliciano in partnership with Reservoir Capital Group, L.L.C., seeks to uncover and capitalize on overlooked opportunities in key sectors such as business services, communications, consumer, healthcare, industrials, and technology. Clearlake partners with portfolio companies in executing business transformations as a financial and strategic sponsor.
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel in the formation of the Fund.
Clearlake Capital Group, L.P. is a private investment firm focused on special situations such as corporate divestitures, recapitalizations, buyouts, restructurings, turnarounds and minority equity investments. Clearlake seeks to partner with world-class management teams by providing patient, long-term capital and operational expertise to invest in businesses going through change. Clearlake’s founding principals have led over 50 investments totaling more than $2.6 billion of capital in sectors including business services, communications and media, energy and power, healthcare, manufacturing, retail/consumer and technology. For more information, please visit www.clearlakecapital.com.
Owen Blicksilver Public Relations, Inc.