Clearlake Capital Group

Founded in 2006 by Steven Chang, Behdad Eghbali, and José E. Feliciano, Clearlake Capital Group was established with a strategy to shift between buyouts and distressed securities based on economic conditions. This approach allowed the firm to capitalize on the 2008 financial crisis by acquiring distressed assets and selling them profitably during the recovery. Over the years, the firm has expanded its footprint globally, opening offices in major financial hubs including London, Singapore, and Abu Dhabi.

The firm focuses on three core sectors: technology, industrials, and consumer. In recent years, Clearlake has significantly expanded its credit capabilities, acquiring WhiteStar Asset Management in 2020 and MV Credit in 2024. The firm also gained international prominence for its 2022 acquisition of Chelsea F.C. as part of the BlueCo consortium, later acquiring full control of the club in 2026.

Clearlake is known for its active role in the private-equity secondary markets and for raising large-scale flagship funds. In 2026, the firm closed its 8th flagship fund with $14.8 billion in commitments and completed a nearly $1 billion acquisition of Pathway Capital Management to expand its presence in the private-wealth market.