Dechert Advises Clearlake Credit on its Acquisition of LCM Asset Management’s CLO Contracts

Dechert has advised Clearlake Credit, the credit platform of global investment firm Clearlake Capital Group, L.P., in an important transaction that will see it assume management of CLOs previously managed by LCM Asset Management, LLC. The deal brings 31 CLOs and more than US$5 billion of assets under management into the Clearlake fold - increasing Clearlake Credit's total AUM to approximately US$39 billion across liquid credit, private credit and other customized credit solutions.

The transaction meaningfully expands Clearlake Credit's capabilities, strengthens its relationships with leading institutional investors, and underscores its client-first approach and relentless commitment to delivering attractive risk-adjusted returns across market cycles.

Clearlake Capital is a preeminent global alternative asset manager offering a broad spectrum of investment solutions across private equity, credit, infrastructure, secondaries, co-investments and related private market strategies.

The Dechert team advising Clearlake Credit was led by co-head of global finance John Timperio and corporate partner Ross MacConnell, and included corporate associate Remington Shepard and transactional associate Javier Pérez Rodríguez; global finance counsel David Griffin and associate Charlie La Vine; financial services partners Gerry Brown and Robert Shapiro and associate Nichollas Dawson; and tax partners Jeff Kang and Kevin Zaragoza with associate Cindy J. Moon.

About Dechert

Dechert is the law firm that helps business leaders lead - boldly, globally, and without hesitation. Dechert is also a world leader in the financial service M&A space, with a particular focus on transactions involving CLO collateral managers.

For more than 150 years, Dechert has advised clients on the matters that matter most - from high-stakes litigation to first-in-market transaction structures and complex regulatory challenges. Our lawyers operate at the center of the industries we serve - financial services, private capital, real estate, life sciences, and technology - in commercial hubs across the globe.

Dechert delivers the kind of unwavering partnership that moves markets and drives results no one else thought possible.