Sidley Guides Clearlake on $700 Million Fundraise for Fanatics

Sidley Austin advised private equity firm Clearlake Capital Group, L.P. on its investment in Fanatics Inc., a retailer of licensed sports apparel and collectibles that has plans to expand into other types of business.

Clearlake led Fanatics’ latest financing round, which raised $700 million, the law firm said. Bloomberg News reported Tuesday that the new funding round brings the Jacksonville, Florida-based company’s valuation to around $31 billion.

Investment banking firm LionTree LLC joined the round, with existing investors including Silver Lake Management, SoftBank Group Corp., and Fidelity Management & Research, Bloomberg reported, citing a person familiar with the matter.

Fanatics, ...