Clearlake Buys CLO Specialist WhiteStar to Bolster Credit Effort

Clearlake Capital Group has acquired a majority stake in WhiteStar Asset Management -- an investment firm that specializes in collateralized loan obligations -- as it seeks to bolster its credit capabilities.

The combined firm’s assets under management now total about $24 billion after adding the roughly $6 billion overseen by Dallas-based WhiteStar, Clearlake managing partner and co-founder Jose Feliciano said in an interview.

“From the very beginning, our vision was to become a multi-faceted firm with private equity, special situations and credit, but we have been disciplined and waited for the right time in the cycle,” Feliciano said, referring to ...