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Clearlake Capital acquires WhiteStar Asset Management.

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BANKING AND CREDIT NEWS-July 6, 2020-Clearlake Capital acquires WhiteStar Asset Management

(C)2020 M2 COMMUNICATIONS http://www.m2.com

Clearlake Capital Group, L.P. has announced its acquisition of a majority stake in WhiteStar Asset Management, bringing combined assets under management to approximately USD 24 billion, the company said.

Clearlake Capital Group, L.P. (together with its affiliates) acquired WhiteStar from Pine Brook Capital Partners in partnership with WhiteStar's management team, led by Chief Executive Officer Gibran Mahmud.

WhiteStar is an investor in the syndicated bank loan space, with a focus on collateralized loan obligations (CLOs). Over the last three years, WhiteStar increased AUM from USD 1.5 billion to approximately USD 6.0 billion and completed seven new CLOs under the Trinitas name, marking 12 CLOs since inception of the platform.

The terms of the transaction are not disclosed. Berkshire Global Advisors acted as financial advisor to Pine Brook and WhiteStar. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Pine Brook and Milbank LLP acted as legal advisor to WhiteStar. Greensledge Capital Markets acted as financial...

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