Clearlake Capital Group, a global investment firm managing integrated platforms spanning private equity, liquid and private credit, and other related strategies, entered into a definitive agreement to acquire Pathway Capital Management, a global provider of private market solutions for institutional and wealth markets. Terms of the transaction have not been disclosed, and closing is expected in Q1/26, subject to the receipt of required regulatory approvals and other customary closing conditions.
The acquisition represents an expansion of Clearlake’s private markets platform, adding complementary capabilities. The combination will scale Clearlake’s business by bolstering private credit origination capabilities, expanding the scope of Clearlake’s private market capabilities and broadening distribution across institutional and private wealth channels. Pathway will retain its brand and operate independently as Clearlake’s investment solutions business, expanding Clearlake’s footprint into the institutional and private wealth market.
“We are thrilled to welcome Pathway to the Clearlake family as we further expand our leadership in alternative investments,” José E. Feliciano and Behdad Eghbali, co-founders and managing partners at Clearlake, said. “This partnership is designed to drive performance and deliver enhanced outcomes for clients across market cycles. Pathway’s long-standing track record and global reach complement our platform, and together we can offer broader access, deeper insights and more tailored solutions — helping investors achieve better outcomes in an increasingly complex alternatives landscape.”
The collaboration will position Pathway to offer even more robust services and resources to its investor base.
Pathway’s leadership team will remain intact and continue to operate the business with James Chambliss, Richard Mazer, and Alex Casbolt leading the Pathway team. Together, they will continue to support the platform’s strategic growth and help guide the next chapter of Pathway’s evolution. Upon closing, Clearlake’s global team will total approximately 500 employees.
“After more than a decade of investing with the Clearlake team, we are excited to join a world-class alternative asset manager. We couldn’t be more excited to join forces with a firm that is a strong cultural fit with our firm,” Chambliss, Mazer and Casbolt said. “Pathway has always been focused on delivering innovative solutions to our clients and we will now bring our expertise to an even broader client base through Clearlake’s expansive private markets platform.”
Evercore and BofA Securities served as financial advisors to Clearlake and Kirkland & Ellis served as legal advisor. UBS Investment Bank served as financial advisor to Pathway and O’Melveny & Myers served as legal counsel.
