Kirkland & Ellis LLP advised Clearlake Capital Group, L.P., a leading global private equity and alternative asset investment firm, on the sale of a minority stake to Dyal Capital Partners, a division of Neuberger Berman, and Goldman Sachs Asset Management’s Petershill program. Under the terms of the transaction, which included an investment by existing partner Landmark Partners, the passive, non-voting minority stake will provide permanent capital to significantly increase the firm’s investments in its own funds and to support the development of initiatives that capitalize on the firm’s sector-focused approach coupled with its unique integration of private equity, special situations, and credit capabilities. The financial terms of the transaction are not publicly disclosed. The full press release is available here.
The Kirkland team was led by corporate partners Charles Fellers and investment funds partner Daniel Lavon-Krein; as well as corporate partner Jennifer Perkins and associate Amanda Border; investment funds partner Nicole Washington; tax partners David Grenker and Meredith Levy and associate Justin Barbosa; and employee benefits partner Liz Dyer.