Clearlake Opportunities Partners III Fund Closes With $2.5 Billion in Commitments

Paul, Weiss advised Clearlake Capital Group in the formation of the Clearlake Opportunities Partners III fund (COP III), which held its final closing with $2.5 billion in commitments. The fund was oversubscribed and exceeded its $1.5 billion target with support from existing and new limited partners. Limited partners include institutional investors from Asia, Europe and North America representing a diverse group of public and corporate pension funds, sovereign wealth funds, insurance companies, foundations and endowments, and family offices.

COP III is Clearlake’s third fund in its flagship private equity-style credit fund series and will continue Clearlake's flexible investment strategy of investing in non-control special situations investments with a sector-focused approach targeting investments in technology, industrial and consumer businesses.

Paul, Weiss also recently advised Clearlake in its acquisition of Chelsea Football Club, a professional football club that competes in the Premier League, the top division of English football, as part of a consortium of investors co-led by COP III and Todd Boehly, Chairman and CEO of Eldridge.

The Paul, Weiss team included corporate partners Matthew Goldstein, Marco Masotti and Aaron Schlaphoff; tax partners Robert Killip and Patrick Karsnitz; and executive compensation counsel Jake Glazeski.