Clearlake Capital launches dedicated credit platform – DELETE

Source: Alternative Credit Investor

Clearlake Capital Group has launched a new platform to bring together its credit businesses under one unified offering.

Clearlake Credit will incorporate MV Credit, a pan-European private credit manager that it recently acquired from Natixis Investment Managers, and WhiteStar Asset Management, a credit-focused investment manager it acquired in 2020, as well as Clearlake’s existing credit business.

Clearlake Credit now represents over $57bn (£42.7bn) in liquid and illiquid credit investments deployed globally to date. This includes private credit and collateralised loan obligations.

“While credit has always been core to our strategy, we’re proud to officially launch Clearlake Credit as we continue to strategically build our credit offerings to meet the market’s demand for flexible capital solutions,” said José E. Feliciano, co-founder and managing partner of Clearlake. “We plan to continue scaling our credit platform and expand the breadth and depth of our credit capabilities to provide comprehensive capital structure solutions to borrowers around the world.”

Behdad Eghbali, co-founder and managing partner at Clearlake, added: “The official launch of Clearlake Credit will grow our standing in the global credit market, and the acquisition of MV Credit adds to our capabilities in Europe.

“Our team has invested across multiple credit cycles, and we believe now is an attractive opportunity to further scale our private credit platform.”

Clearlake has more than $90bn of assets under management across private equity and credit strategies.