COMPANY

Clearlake

Clearlake is a private equity and credit asset manager for institutional investors.

Analyst Perspective

Clearlake Capital Group, L.P. is a private alternative asset manager focused on private equity and credit. The firm raises capital from institutional limited partners and deploys that capital through sector-focused investment platforms, with a stated emphasis on operational improvement and value creation across portfolio companies. Its public materials show substantial scale, including more than $185 billion in assets under management and multiple large flagship fund closes through June 2026. Clearlake generates revenue primarily from recurring management fees on committed or managed capital and from carried interest tied to realised investment performance. Its customers are institutional investors such as pension funds, endowments, sovereign entities, family offices, and other professional allocators seeking exposure to private market strategies. The firm creates value by sourcing acquisitions, improving portfolio company performance, supporting growth and consolidation, and exiting investments through sales, recapitalisations, or public listings.

Analyst Signal Briefing

Updated: 2 Jul 2026

Clearlake Capital Group has expanded its credit platform through the acquisition of MV Credit, increasing its assets under management to $90 billion. Portfolio companies Quest Software and ModMed have prioritised inorganic growth through the acquisitions of Anetac and Bonsai Health, specifically targeting advancements in agentic AI and patient engagement. Additionally, the firm has facilitated several senior leadership transitions, appointing new Chief Executive Officers at United Site Services and symplr to oversee the next phase of operational development across its diversified portfolio.

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Category Differentiation

This is a private equity and credit asset manager, not a software vendor, adtech company, or operating business. It invests in and manages portfolio companies rather than selling enterprise applications directly.

Clearlake: About

Clearlake operates a fund management model. It forms investment vehicles, raises commitments from institutional limited partners, allocates capital into private equity and credit opportunities, and manages those assets over a multi-year holding period. Value is created through disciplined deal sourcing, sector specialisation, operational improvement, add-on acquisitions, capital structure optimisation, and eventual exits. The business combines annuity-like fee income with performance-linked upside from successful realisations.

How Clearlake Works & Monetises

Business model analysis and core revenue streams

The firm monetises through management fees charged on assets under management or committed capital, plus performance-based carried interest earned when investments generate returns above required thresholds. Additional economic value is realised through portfolio company exits, dividend recapitalisations, refinancing events, and appreciation in underlying asset value across buyout, credit, and opportunistic strategies.

Revenue Channels

Management fees on committed or managed capitalService Fee
Carried interest from realised investment gainsPercentage Take-Rate
Co-investment and related fund economicsPercentage Take-Rate

Clearlake: Key Subsidiaries & Acquisitions

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Recent Signals (Clearlake)

Clearlake Capital GroupJun 29, 2026

Clearlake-backed Quest Software Acquires Anetac to Advance Identity Security for the Agentic AI Era

Clearlake Capital Group announces that its portfolio company Quest Software has acquired Anetac, enhancing identity security for the agentic AI era.

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Clearlake Capital GroupJun 28, 2026

Clearlake-backed Quest Software Acquires Anetac to Advance Identity Security for the Agentic AI Era

Quest Software, backed by Clearlake Capital, has acquired Anetac to enhance identity security solutions for the emerging agentic AI era.

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Clearlake Capital GroupJun 28, 2026

Clearlake-backed Quest Software Acquires Anetac to Advance Identity Security for the Agentic AI Era

Clearlake-backed Quest Software Acquires Anetac to Advance Identity Security for the Agentic AI Era

Read original source

Clearlake: Frequently Asked Questions

What is Clearlake?

Clearlake is a private alternative asset manager focused on private equity and credit investment strategies.

Who uses Clearlake?

Clearlake is used by institutional investors and other professional limited partners allocating capital to private market funds.

How does Clearlake make money?

Clearlake earns management fees on assets under management and carried interest from realised investment returns.

Company Facts

Founded
2006
Headquarters
United States
Official Link
clearlake.com