Clearlake Completes Strategic Acquisition of Pathway Capital Management

Santa Monica and Irvine, CA – June 9, 2026

Clearlake Capital Group, L.P. (“Clearlake” or the “Firm”), a global investment firm managing integrated platforms spanning private equity, liquid and private credit, and other related strategies, today announced the completion of its acquisition of Pathway Capital Management (“Pathway”), a global provider of private market solutions for institutional and wealth markets.

The strategic acquisition significantly expands Clearlake’s private markets platform, adding complementary capabilities and reinforcing its position as a leading diversified alternative asset manager. Founded in 1991, Pathway manages more than $95 billion in assets and brings a proven track record across private equity, private credit, infrastructure, secondaries and co-investments through customized private markets programs and multi-investor funds. The combination will bolster Clearlake’s private credit origination capabilities, broaden distribution across institutional and private wealth channels, and enhance the firm’s ability to meet growing demand for bespoke private markets strategies. The combined platform represents over $185 billion in assets under management with more than 500 global employees. Pathway will continue to operate under its existing brand as part of Clearlake’s broader private markets platform and Pathway’s team will continue to be led by James Chambliss, Richard Mazer, and Alex Casbolt.

“This combination marks an important milestone in Clearlake’s continued development as a leading global alternatives platform,” said José E. Feliciano and Behdad Eghbali, Co-Founders and Managing Partners at Clearlake. “By bringing together complementary capabilities, deep private markets expertise, and shared cultural values, we are enhancing our ability to serve investors worldwide with broader, more tailored solutions across an increasingly dynamic market landscape. We are thrilled to welcome the Pathway team to Clearlake.”

“We are excited to begin this next chapter with Clearlake,” said Pathway’s James Chambliss, Richard Mazer, and Alex Casbolt. “Clearlake’s scale and shared commitment to client servicing will further strengthen our ability to deliver differentiated private markets solutions to investors globally, while continuing to operate under the Pathway brand our clients know and trust.”

About Clearlake
Clearlake Capital is a leading global alternative asset manager founded in 2006 with over $185 billion of assets under management. Clearlake offers a broad range of investment solutions across private equity, credit, infrastructure, secondaries, co-investments, and other related private market strategies. Clearlake seeks to partner with experienced management teams by providing patient, long-term capital to businesses across multiple sectors. The firm aims to drive value through its active, hands-on operating approach, O.P.S.® (Operations, People, Strategy), which combines deep operational expertise with strategic and talent-focused initiatives. Headquartered in Santa Monica, Clearlake maintains 13 offices across the Americas, Europe, Asia, and the Middle East. For more information, please visit clearlake.com or follow us on LinkedIn .

About Pathway
Pathway is a leading private market solutions provider with over $95 billion in assets under management from private equity, private credit, and infrastructure mandates serving the needs of institutional and wealth investors worldwide. Formed in 1991, Pathway creates and manages custom and multi-investor programs, investing in various private market strategies through primaries, secondaries, and co-investments. Pathway’s investment professionals have participated in the development of 135 private market portfolios, committing more than $135 billion across a wide variety of private market strategies. Pathway is headquartered in Irvine, California, with additional offices in Providence, London, Munich, and Hong Kong. For more information, please visit pathwaycapital.com or follow us on LinkedIn.

Media Contact:

Tasha Pelio
tasha.pelio@clearlake.com
+1 310-400-8879

Pathway Hires Amanda Buckstaff and John Kornack to Consultant Relations Team

Pathway hires Amanda Buckstaff, vice president of consultant relations, and John P. Kornack, Jr., vice president of consultant relations.

Amanda held institutional business development and consultant relations roles at Voya Investment Management and Champlain Advisors prior to joining Pathway. She started her career as an analyst in the commercial bank at JPMorgan Chase. Amanda holds a BBA in finance, investment, and banking from the University of Wisconsin–Madison.

John held senior institutional consultant relations roles at Insight Investment, Manulife, and State Street Global Advisors before joining Pathway. He started his career on the institutional sales desk at Ned Davis Research. John received a BS in finance from Providence College and an MBA from Babson College’s F.W. Olin Graduate School of Business.

Amanda and John will be focusing on establishing and managing relationships with consultants in the Midwest and on the East Coast, respectively, as well as assisting with the firm’s client servicing and business development efforts.

Pathway Makes Four Senior Promotions

Pathway is pleased to announce that Bryan Nelson and Stefan Goettl have been promoted to Director and have become owners in the firm, and that Valerie Ruddick and Matt Lugar, both Managing Directors, have been named as co-heads of Pathway’s primary investing practice.

The promotion of Bryan and Stefan brings the total number of owners of Pathway to 23. Bryan joined Pathway in 2011 and is a senior member of Pathway’s co-investment team. Stefan joined Pathway in 2010. He is a senior member of the London office and a member of Pathway’s infrastructure team and also plays a leadership role in Pathway’s ESG efforts.

Valerie joined Pathway in 1996 and is a member of various Pathway committees, including the firm’s Investment Committee, Portfolio Construction Committee, and Diversity & Inclusion Committee. Matt joined Pathway in 2002, is based in the firm’s Rhode Island office, and serves on various Pathway committees, including the Investment Committee. Valerie and Matt also co-manage the firm’s Target Funds team, which oversees Pathway’s proactive investment origination efforts.

Pathway Closes on $245 Million Custom FOF for Asia-Based Investor

Pathway is pleased to announce that it has closed on a $245 million customized fund of funds for an Asia-based institutional investor. The fund will seek to build a diversified portfolio of primary fund investments and co-investments in both the small and middle markets globally.

The fund represents a continuation of Pathway’s successful 31-year history of investing in the private markets, which totals more than $105 billion in commitments. To date, Pathway has developed more than 100 customized solutions for our clients across private equity, private credit, and infrastructure mandates.

Martin Wing Appointed to CAIA SoCal Executive Board

Pathway is delighted to announce that Martin Wing, senior vice president of consultant relations, has been appointed to the CAIA SoCal Executive Board in recognition of his in-depth knowledge of and experience in the institutional investment industry. Pathway is a proud supporter of CAIA Association’s mission to improve investment and societal outcomes of capital allocation through professional education, transparency, and thought leadership across all investor alternatives in our industry.

To learn more about CAIA and its mission, visit their website here.

Pathway Closes on $100 Million Customized Direct Credit Fund

Pathway is pleased to announce that it has closed on a new customized $100 million direct credit fund for a U.S.-based public pension plan. The fund will seek to build a diversified portfolio of direct credit investments in private equity–backed companies that operate in a variety of industries and regions.

This fund represents a continuation of Pathway’s successful 31-year history of investing in private markets, which totals more than $100 billion in commitments. To date, Pathway has developed more than 95 customized solutions for our clients across private equity, private credit, and infrastructure mandates.

Pathway Hires Andrea Mack as Head of Consultant Relations

Pathway is pleased to announce that Andrea Mack has joined as Senior Vice President–Head of Consultant Relations. Ms. Mack will be working out of our Providence, R.I., office.

Ms. Mack brings extensive investment management experience that dates back more than 20 years. Prior to joining Pathway, Ms. Mack was a Managing Director–Institutional Marketing and Consultant Relations at The TCW Group and was a Portfolio Manager with Western Asset Management.

Pathway Turns 30

Pathway celebrates its 30th year of developing private market programs for institutional investors worldwide. We wanted to take this moment to thank our clients and investors who have entrusted their capital with us.

Also, in recognition of this milestone, Pathway is making donations to the American Red Cross, which is devoted to preventing and alleviating human suffering in the face of emergencies on a global scale, and the Orange County Rescue Mission, which provides, guidance, counseling, education, job training, shelter, food, clothing, and healthcare to those who are in need. We are proud to be supporting the great work of these two organizations.

Pathway Closes on $250 Million Credit Co-investment Fund

Pathway is pleased to announce that it has formed a customized $250 million credit co-investment fund in partnership with a U.S.-based institutional investor. The new fund will make co-investments alongside the investor’s current portfolio of private credit managers. To date, Pathway has committed more than $95 billion across a wide variety of private market strategies—including more than $5 billion in co-investments—since its inception in 1991.

Pathway Closes on $325 Million for PPEF I-10

Pathway is pleased to announce that it has held a final close on $325 million for Pathway Private Equity Fund Investors 10, LP (“PPEF I-10”), its 10th multi-investor, core-diversified private equity fund of funds. Investors include a mix of government and corporate pension plans, insurance companies, endowments, foundations, and high-net-worth individuals. PPEF I-10 will continue its predecessors’ strategy of making primary fund investments in private equity managers, as well as investments in secondary and co-investment opportunities.

PPEF I-10 will leverage Pathway’s more than 30-year history of private market investing, which includes over $95 billion committed to a variety of private market opportunities.