Clearlake closes eighth flagship fund at $14.8bn with AI in focus

Clearlake Capital has closed its eighth flagship fund at $14.8bn, a sizeable haul that underlines how investors are funnelling capital towards large, established managers in a tough fundraising market

The total for Clearlake Capital Partners VIII includes related co-investment vehicles and separately managed accounts, and the firm has earmarked it for the secular shifts reshaping industries, from artificial intelligence and software modernisation to digital transformation and operational efficiency.

Private markets fundraising has become notably harder and more selective, and limited partners have grown choosier about where they commit. Clearlake nonetheless drew nearly 300 existing and new investors across 35 countries and six continents.

“In an environment where investors are increasingly concentrating capital with scaled, differentiated managers,” the fund reflects the firm’s platform strength and performance, said José Feliciano, co-founder and managing partner.