Clearlake Capital has closed its eighth flagship private equity fund with $14.8 billion in capital commitments, positioning the firm to expand investments in companies benefiting from artificial intelligence, software modernization, digital transformation and operational efficiency trends reshaping global industries.
The fundraising includes Clearlake Capital Partners VIII, related co-investment vehicles and separately managed accounts. The close represents one of the larger private equity fundraises completed in a challenging fundraising environment and reflects continued institutional investor demand for sector-focused investment strategies with established track records.
The Santa Monica-based investment firm said nearly 300 existing and new investors from 35 countries across six continents participated in the fundraise, underscoring broad global support for Clearlake’s investment approach and long-term performance.
“We are grateful for the strong support from both existing and new limited partners around the world,” said José E. Feliciano, Co-Founder and Managing Partner at Clearlake Capital. “In an environment where investors are increasingly concentrating capital with scaled, differentiated managers, Fund VIII reflects the strength of our platform, the consistency of our performance, and the enduring partnerships we have built with our investors over the past two decades.”
The new fund arrives at a time when private equity firms are increasingly focusing capital on businesses positioned to benefit from AI adoption and technology-driven transformation. Clearlake intends to continue its sector-focused strategy, targeting opportunities where operational improvements, technology implementation and strategic growth initiatives can drive long-term value creation.
The firm has already begun deploying capital from Fund VIII into investments aligned with those themes. Recent transactions include investments in Dun & Bradstreet, Qualus and ModMed, companies that Clearlake believes are positioned to capitalize on evolving technology adoption and digital transformation trends across their respective industries.
“Periods of disruption often create the most attractive opportunities for value creation,” said Behdad Eghbali, Co-Founder and Managing Partner at Clearlake Capital. “We believe our combination of sector specialization, operational expertise, differentiated use of AI, and flexible capital solutions positions us to help businesses accelerate transformation and achieve their next stage of growth.”
A key component of Clearlake’s investment strategy involves the use of its AI-focused capabilities through Clearlake AI Labs and partnerships with external technology providers. The firm works with portfolio company management teams to identify opportunities to deploy artificial intelligence across operations, product development, customer engagement and business decision-making processes. As AI adoption accelerates across industries, private equity firms are increasingly using technology-enabled operational improvements as a core value creation lever.
The successful fundraising follows a period of significant activity across Clearlake’s portfolio. Over the past five years, the firm has generated approximately $22 billion in realizations from investments including Concert Golf Partners, Brightly, Janus International Group and Team Technologies. Those exits provided liquidity to investors across multiple market cycles and helped reinforce the firm’s reputation for operationally driven value creation.
Founded in 2006, Clearlake has grown into one of the largest global alternative asset managers, overseeing more than $185 billion in assets under management. The firm invests across private equity, credit, infrastructure, secondaries, co-investments and related private market strategies. Through Pathway Capital Management, a division of Clearlake, the firm also provides private market investment solutions to institutional and wealth management clients.
Central to Clearlake’s investment philosophy is its O.P.S.® framework, which emphasizes operational improvement, talent development and strategic execution. The approach combines sector expertise with hands-on engagement alongside management teams to support business growth and operational performance.
The close of Fund VIII highlights continued investor appetite for large-scale private equity managers with demonstrated performance and differentiated investment strategies. As companies across industries navigate technological disruption, AI adoption and evolving business models, Clearlake is positioning its latest fund to capitalize on opportunities created by those long-term secular trends.
Evercore Private Funds Group served as primary fundraising advisor and global placement agent for the fund, while Kirkland & Ellis LLP acted as legal counsel.