Paul Weiss Guides Clearlake's Latest $1.4B PE Fund

Law360 (June 26, 2019, 11:24 AM EDT) -- Clearlake Capital Group LP, working with Paul Weiss, said Wednesday that it has clinched its latest fund after collecting $1.4 billion from limited partners, with plans to invest in middle market companies in sectors including software and technology-enabled services, industrials and energy, and consumer.

The fund, billed as Clearlake Opportunities Partners II, or COP II, was oversubscribed and closed at its hard cap, according to a statement. The new fundraise increases the firm’s total assets under management to above $10 billion.

Clearlake itself made a “significant commitment” to the fund, which will make non-control investments in the company types described above....

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