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PE firm Clearlake confirms minority stake sale to Dyal, Goldman, Landmark

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PE firm Clearlake confirms minority stake sale to Dyal, Goldman, Landmark

Confirming an earlier media report, Clearlake Capital Group LP announced that the company's existing partner, Landmark Partners LLC, along with Dyal Capital Partners and Goldman Sachs Asset Management's Petershill program have made a minority investment in the private equity firm.

The passive, nonvoting minority stake will provide capital to increase Clearlake's investments in its own funds, the company said.

Terms of the deal were not disclosed.

Berkshire Capital Securities LLC and Goldman Sachs & Co. LLC advised Clearlake on the transaction, while Kirkland & Ellis LLP and Simpson Thacher & Bartlett LLP served as its legal counsel. Fried Frank Harris Shriver & Jacobson LLP served as legal counsel to Dyal and Petershill.

The Wall Street Journal in February reported that Goldman Sachs Group Inc. had raised $2.5 billion to acquire minority stakes in private equity firms.