Clearlake eyes DigiCert for single-asset process, Indian-American dealmakers spring to action as health crisis ravages India

The Wire

May 20, 2021

Clearlake eyes DigiCert for single-asset process, Indian-American dealmakers spring to action as health crisis ravages India

Happy Thursday!

Big news today includes Apollo co-founder Josh Harris deciding to step out of daily activities at the firm with a transition out next year.

Also, Clearlake Capital is running a single-asset process on DigiCert, which it wants to move out of two older funds and into a continuation pool. ICG is lead investor on the deal, which also includes Goldman Sachs Asset Management secondary business and other investors. The process could end up being among the largest-ever such deals, as more GPs than ever explore using secondary structures to hang on to their best investments, rather than sell them “too early” to other sponsors.

And, Indian-American dealmakers are doing what they can to help their friends and family in India, where a new wave of coronavirus is ravaging rural communities with little to no medical infrastructure.

That’s it! Hit me up with thoughts, feedback, tips n’ gossip or whatever at [email protected] or find me on LinkedIn.

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Also of note (may require subscriptions)

Secondaries discretion: Los Angeles Fire & Police Pension System board of commissioners declined to give investment staff more discretion to approve GP-led secondaries deals. Staff had requested the ability to approve rolling over its interests in prior funds and commit up to $7.5 million into a continuation pool, in consultation with the system’s PE consultant. Read it here on Buyouts.