Clearlake Capital Group closed its third private equity fund with more than $785m in equity commitments.
Clearlake Capital Partners III, L.P. (Clearlake III), which exceeded its original target of $600m and its original hard cap of $750m, was supported by public and corporate pension funds, insurance companies, endowments and foundations, financial institutions, fund-of-funds, and family offices.
It will follow the investment strategy of the firm’s first two funds. Clearlake III is already exploring a number of opportunities and recently made an investment in Swiss Watch International, a fully integrated online retailer and multi-channel distributor of watches, accessories, and apparel.
Founded in 2006 by José E. Feliciano, founding partner, the firm invests in special situations and private equity, with a particular focus on companies undergoing complex financial, operational, or structural change. Its portfolio is comprised of 16 companies in several target industries including business services, communication, consumer products/retail, defense/public safety, energy/power, healthcare, industrials, media, and technology.