Outstanding ClearLake's slide from Dec-23 that I just received which includes detailed realization information over the last few years
Exact figures are not disclosed but it seems that the 7x MOIC we estimated in the tweet below for Wheel Pros is fairly accurate
In addition, it is very interesting to see how many of these exits represent continuation vehicles (in case not obvious, the red edits are mine)
By the way, if you want to get the entire deck this slide is pulled from, retweet this post, comment interested, and send me a DM
A quick recap of ClearLake investment in Wheels Pros
- Buys company in 2018 for $130mm
- Dividend recaps to start to return equity
- Deal exited to continuation vehicle for $2.4bn (one of their biggest sales in recent years)
- Deal nets $1b in profit to ClearLake (over 7x MOIC)
- Wheels Pro files for chapter 11 in 2024
- Likely a 0 for the continuation vehicle investors