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Private Equity

Clearlake Capital sells 20% stake to 3 alternatives fund managers

Updated on May 29

Clearlake Capital Group sold a minority, passive interest to Neuberger Berman's Dyal Capital Partners, Goldman Sachs Asset Management's Petershill program and secondary alternative investments firm Landmark Partners, according to a news release.

The deal is for as much as a 20% minority, passive interest, sources said.

Clearlake is a private equity firm that makes debt and equity investments in companies in software and technology-enabled services; industrials and energy; and consumer sectors. Clearlake has managed about $7 billion of institutional capital since its founding in 2006. Clearlake closed its latest private equity fund, Clearlake Capital Partners V, with more than $3.6 billion in commitments in March.

Clearlake Capital Group, Neuberger Berman, Goldman Sachs Asset Management and Landmark Partners executives all declined comment.

The Dyal and Petershill lines of funds take minority positions in alternative investment firms. Both have closed new funds recently. In February, Petershill Private Equity fund and associated vehicles collected a total of $2.5 billion to acquire minority interests in private equity managers. A year earlier, in February 2017, Dyal Capital Partners III closed with $5.3 billion and was oversubscribed.