Key Takeaways
- • Clearlake Credit will assume management of 31 CLOs from LCM Asset Management, LLC, adding more than $5 billion in assets under management.
- • The transaction lifts Clearlake Credit's total AUM to approximately $39 billion across liquid credit, private credit, and other customized credit solutions.
- • The deal expands Clearlake's liquid credit franchise and is positioned by the firm as deepening relationships with institutional investors.
- • Milbank LLP and Dechert LLP advised Clearlake Credit, while GreensLedge Capital Markets advised the seller.
Summary
Clearlake Capital Group, L.P. announced that its credit platform, Clearlake Credit, will assume management of collateralized loan obligations (CLOs) currently managed by LCM Asset Management, LLC, according to a Business Wire release. The transaction adds 31 CLOs representing more than $5 billion of assets under management.
Following the acquisition, assets managed by Clearlake Credit are expected to rise to approximately $39 billion across liquid credit, private credit, and other customized credit solutions. The release frames the deal as a strengthening of the firm's position in liquid credit, a segment in which CLOs are a core vehicle.
The firm stated that the acquisition broadens its capabilities, deepens relationships with institutional investors, and reinforces its client-centric approach and commitment to seeking attractive risk-adjusted returns across market cycles. The release did not disclose the purchase price or terms of the transaction.
Milbank LLP and Dechert LLP represented Clearlake Credit in the transaction, while GreensLedge Capital Markets advised the seller. Clearlake describes itself as a global alternative asset manager founded in 2006 with more than $185 billion in assets under management, headquartered in Santa Monica, California, with 14 offices across the Americas, Europe, Asia, and the Middle East.
Following the acquisition, assets managed by Clearlake Credit are expected to rise to approximately $39 billion across liquid credit, private credit, and other customized credit solutions. The release frames the deal as a strengthening of the firm's position in liquid credit, a segment in which CLOs are a core vehicle.
The firm stated that the acquisition broadens its capabilities, deepens relationships with institutional investors, and reinforces its client-centric approach and commitment to seeking attractive risk-adjusted returns across market cycles. The release did not disclose the purchase price or terms of the transaction.
Milbank LLP and Dechert LLP represented Clearlake Credit in the transaction, while GreensLedge Capital Markets advised the seller. Clearlake describes itself as a global alternative asset manager founded in 2006 with more than $185 billion in assets under management, headquartered in Santa Monica, California, with 14 offices across the Americas, Europe, Asia, and the Middle East.
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