The Maples Group has advised global investment firm Clearlake Capital on the Cayman Islands legal aspects of the closing of its eighth flagship private equity fund and related investment vehicles, which secured a combined US$14.8 billion in capital commitments.
The transaction highlights the Cayman Islands’ continued role in the global private equity industry, with Cayman legal counsel supporting the formation of large international investment funds. Fund VIII will back Clearlake’s sector-focused investment strategy, including investments tied to artificial intelligence-driven transformation and other long-term industry trends.
A multidisciplinary team from the Maples Group’s Cayman Islands office served as Cayman Islands counsel on the transaction. The team was led by Funds & Investment Management partners Patrick Rosenfeld and Christina Gordon, and Finance partner Matthew St-Amour, with support from associates Henry Matthys and Martynna Berry. Fiduciary Services Senior Vice President Alexander Kenny provided anti-money laundering clearance support.
Patrick Rosenfeld said the firm was pleased to assist with the closing of Fund VIII, adding that the fundraising reflects continued investor demand for established private capital managers and, in the firm’s view, reinforces the Cayman Islands’ position as a leading jurisdiction for private equity fund formations.
Clearlake Capital manages investment platforms across private equity, liquid and private credit, and related strategies. According to the company, the new fund will continue its strategy of investing in sectors benefiting from structural and technology-driven growth.
