Clearlake Capital Group has closed its eighth flagship private-equity fund with $14.8bn in commitments, marking one of the largest fundraises in recent years as the firm continues to scale its platform amid a challenging fundraising environment, according to a report by the Wall Street Journal.
The Santa Monica-based investor said Clearlake Capital Partners VIII includes co-investments and separately managed accounts, bringing total commitments in line with the firm’s latest flagship vehicle. The close follows an extended fundraising period that began in 2023 and included multiple deadline extensions, according to people familiar with the process.
The latest fund exceeds the size of its predecessor, which closed in 2022 with $14.1bn, and reflects continued institutional backing despite broader softness across private equity fundraising markets.
Clearlake Capital Group now manages approximately $185bn in assets under management, supported by an increasingly diversified investment platform spanning buyouts, credit, and private wealth channels.
Clearlake said the fund attracted commitments from roughly 300 limited partners, including institutional investors and wealth channel participants, underscoring the widening investor base for large-scale private equity vehicles.
The fundraise comes at a time when competition for capital has intensified across the industry, with investors navigating weaker distributions, macroeconomic uncertainty, and rapid technological disruption linked to artificial intelligence.
Despite those headwinds, Clearlake has continued deploying capital from the new vehicle, including participation in the $7.7bn acquisition of Dun & Bradstreet Holdings. Other early investments include software and infrastructure-related businesses across healthcare, utilities, and industrial services.
Founded in 2006 by co-managing partners José E Feliciano and Behdad Eghbali, Clearlake employs a flexible strategy that combines equity and debt investments, often targeting companies at the intersection of technology, industrials, and services.
The firm has also expanded its capabilities through acquisitions, including the integration of credit and wealth-focused platforms such as MV Credit and Pathway Capital Management, as it builds a broader alternative asset ecosystem.
