Clearlake Capital was founded in 2006 by Steven Chang, Behdad Eghbali and Jos E. Feliciano. For a full comparison of Standard and Premium Digital, click here. We think the multi club is an interesting tool for player trading. We've done it with other assets. Prior to Clearlake, Eghbali worked in private equity for TPG Capital for several years. Linkedin. We thought Chelsea was good beachhead, it was frankly an asset, a business that was not terribly well managed on the football side, sporting side or promotional side, so meaningful opportunity at the club and we'll get to it for us, who needed the beachhead to then look at multi clubs. Sports have multiple folks, institutions, and individuals who are interested. On this Wikipedia the language links are at the top of the page across from the article title. But cn we keep some assets whether sport or otherwise and enable people to come in and out and the market is evolving to that and I think you're going to see more innovation from a lot of sponsors to do that. Eghbali spent a great deal of time working across Europe with Boehly in the summer transfer market, and held meetings with directors of some of the world's biggest clubs in his role. [3] In 2021, Charlesbank Capital Partners invested in Ivanti at a valuation of $4 billion. Clearlake currently has approximately $4 billion of assets under management, and its senior investment principals have led or co-led more than 90 investments. Kristin Celauro Three, for an AC Milan or Chelsea it's the perfect pathway of developing talent whereby you don't have to spend crazy money on payroll. I think it's also an asset not to share your revenues if your New York City with Memphis. All Rights Reserved. Speaking in a joint statement, Behdad Eghbali and Jos E. Feliciano, the managing partners of Clearlake, outlined their vision for Chelsea. [3], In 2015, Chang left the firm leaving Eghbali and Feliciano as the remaining managing partners. On the second question, at Clearlake, we've done five continuation vehicles, that we call icon vehicles. [3] Many investors chose to roll their holdings instead. You look at the NFL, the NBA, NFL, 20 or so billion revenue, 150-200 million fanbase, media rights, all rights, all IP is shared within the league whereas European soccer you have a massive - English Premier League - massive global audience, you share broadcast revenue but big disparity otherwise in terms of your IP, your assets. FC Barcelona head coach Xavi Hernandez and president Joan Laporta are not currently seeing eye to eye on the potential sale of misfit winger Raphinha this summer, according to reports. Comments are Off, Firm Names Five New Partners and Managing Directors and Adds Three Managing Directors. Same platform but with new and improved features. September 9, 2022. Feliciano and Eghbali got Dyal and Goldman to team up for a slice that valued Clearlake at a rich $4.2 billion, making Feliciano, 46, and Eghbali, 43, two of the youngest billionaires in. Behdad Eghbali became a co-owner of Chelsea as a face of Clearlake Capital along with Jose E Feliciano, and has taken a leading role at the club alongside Todd Boehly. Using a sector-focused approach, Clearlake seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlakes operational transformation approach. The Clearlake team members promoted to Partner and/or Managing Director include: Fred Ebrahemi, Partner, Managing Director, General Counsel, and Chief Compliance Officer, joined Clearlake in 2014 and is responsible for providing legal advice during the execution of private equity transactions and other investments, legal oversight of portfolio companies and firm operations, and firm regulatory and legal compliance. How Scott Boras Used Baseballs No-Shift Rule To Get Pay Raises For Underachieving Clients, The Connection Between Employee Experience And Quality Customer Experience, 5 Strategies To Keep Your Fashion E-Commerce Business Competitive In 2023 And Beyond, ESG Includes An E And An S So Lets Act Like It. or Investor Contact: . personalising content and ads, providing social media features and to "Our vision as owners is clear: We want to make the fans proud. Photo Illustration by Cora Veltman, Paul Spinelli via AP. [15][16] In 2020 the merged company rebranded to Precisely. You also have the option to opt-out of these cookies. Bachelor of Engineering, Princeton University; Master of Business Administration, Stanford University. The private equity. Baseball all-star game, talent competition, draft generates 2/300 million of revenue on a Monday, or Tuesday. We want to make sure you get the most out of our platform. Prior to co-founding Clearlake, Mr. Eghbali was a private equity investor at TPG. You also have the option to opt-out of these cookies. For us, Portugal is an interesting market. You've got to win. Compare Standard and Premium Digital here. 2023 Forbes Media LLC. We use Behdad Eghbali serves as a member of the Board of Directors for Diligent. San Francisco Bay Area, Silicon Valley), This describes the type of investor the person is (e.g. The billionaire private equity founders behind the recent . I think the sport needs more high-quality premium matches and content. an important and growing focus for enterprises seeking to ensure trusted data is used properly," said Behdad Eghbali, Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. Teams that are better run in second-tier markets that you're buying at revenue multiples and revenue multiples matter in so far as you can structurally make money. You have to have a good product to generate sponsors for the content to work. Bachelor of Business Administration, University of California, Berkeley. They are looking to invest in the Broncos personally. These cookies will be stored in your browser only with your consent. It was a celebration of both the man who the awards honor, and a group of new jewelry designers who were awarded for their original creations. This category only includes cookies that ensures basic functionalities and security features of the website. Media Contacts: Blicksilver Public Relations Kristin Celauro 732-433-5200 kristin@blicksilverpr.com Jennifer Hurson 845-507-0571 -Behdad Eghbali; source: SporticoLive via Football.London The only thing we have to keep in mind is that none of this will happen overnight. If you're buying a division two or team teetering you are getting paid for it. Facebook. Behdad Eghbali is the managing partner of Clearlake Capital Group LP, which he cofounded in 2006. The strategy was to shift between buyouts and distressed securities depending on economic conditions. [2][3][4][5] The firm is headquartered in Santa Monica with affiliates in Dallas, London and Dublin. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long term capital to dynamic businesses that can benefit from Clearlakes operational improvement approach, O.P.S. The firms core target sectors are technology, industrials, and consumer. [3][5][6][7] Clearlake, which owns about 60% of Chelsea, would share joint control and equal governance of the club with Boehly.[5]. By clearlakeAdm20 Jose Feliciano's private equity firm scored its biggest realized gain ever with the $1.06 billion sale of Sage Automotive. During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Clearlake currently has more than $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. A gateway to South America, a gateway to European visas, the French market is interesting given the quality of the league, given frankly quality, French speakers in Africa. Along with our commitment to developing the youth squad and acquiring the best talent, our plan of action is to invest in the club for the long-term and build on Chelsea's remarkable history of success.". You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. Based in Santa Monica, California, Clearlake's team consists of over 80 professionals, including 35 investment professionals.1 Clearlake has been a Registered Investment Adviser with the Russias War On Ukraine: Daily News And Information From Ukraine, Todays Wordle #623 Hint, Clues And Answer For Saturday, March 4th, The Forbes 400 2022: 10 Richest Newcomers, The Forbes 400 2022: 10 Billionaires Under 40, Princetons Student Body Will Expand After $20 Million Gift From Artist Kwanza Jones And Private Equity Executive Jos Feliciano, Newcomers: These 18 Billionaires Join The Forbes 400 List In 2020, How Clever New Deals And An Unknown Tax Dodge Are Creating Buyout Billionaires By The Dozen, Buyout Firm Clearlake Capital Makes $800 Million In Sage Automotive Deal, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. Behdad Eghbali Age : 46 Linked companies : Cornerstone OnDemand, Inc. - Diligent Corp - Constant Contact Inc Summary Behdad Eghbali is a businessperson who founded Clearlake Capital Group LP and who has been at the head of 8 different companies. 2023 Forbes Media LLC. Nearly ten months since arriving at the club, the deal has been awarded Deal of the Year in the PEI 2022 Awards. (function(){var cid=document.createElement("script");cid.async=true;cid.src="//seal.digicert.com/seals/cascade/seal.min.js";var s = document.getElementsByTagName("script");var ls = s[(s.length - 1)];ls.parentNode.insertBefore(cid, ls.nextSibling);}()); We use cookies to enhance your user experience. About; . [2][8], In May 2018, Clearlake sold a minority stake of up to 20% of its shares to Dyal Capital, Petershill Partners and Landmark Partners. Twitter. Princeton University is set expand its student body by 10% after a historic $20 million gift by alumni Kwanza Jones and private equity billionaire Jose Feliciano. We could partner and be a minority holder on a team and still get the benefit of some of the know-how but really firewall off the scouting and decision-making. Email. Behdad Eghbali became a co-owner of Chelsea as a face of Clearlake Capital along with Jose E Feliciano, and has taken a leading role at the club alongside Todd Boehly. One thing to be mindful of there is really Champions League or continental competition. [3][11], In recent years Clearlake has become the biggest user of GP-led secondaries. 2018 Cohesive Capital. Clearlake also announced the following additions to the team: Tony La Rosa, Managing Director,O.P.S. With more than 25 years of experience, Mr. La Rosa has worked extensively with private equity owned companies in senior IT roles, including CTO positions at two Clearlake-owned businesses. Ultimately, if you're investing capital into a training facility, an academy, a stadium, if you're improving the team you're going to have a lot of public support and I think there are a lot of untapped niche markets that are avidly supportive of the teams. Again, I think we're all teetering at the surface of where we're going to go. They wrote: "Clearlake is proud to announce that our investments in Chelsea was awarded Deal of the Year in EMEA in the PEI 2022 Awards. Brad Kottman joined Clearlake in 2017. We think there's a path to controlling labour costs and still producing a winning product using data, using the multi club. Clearlake Capital. Frankly, for an astute US investor, it means an opportunity where you're stepping into a division two or three team, you run it better, you create the player pathways, and you get it promoted. It is said that the consortium fended off competition from 11 serious rivals to acquire the club. Obvious Blitzen, Ian and others have done other clubs without the beachhead first but for us we wanted to start with Chelsea and I'm sure you'll ask us about multi club and how you piece all of this together, hopefully, there's at least a theory and a business plan to do so. She is involved in some of Clearlakes recent investments such as American Construction Source, FloWorks, and ProVation. California-based Clearlake, run by cofounders and managing partners Jos E. Feliciano and Behdad Eghbali, invests in technology, industrials, and consumer companies. We think there's a market for it and we think there's a market to afford LPs the ability to exit and others to step in and to have a long-duration vehicle to keep these assets. The American billionaire and his co-controlling owner Behdad Eghbali are determined for the club to have one of the greatest stadiums on the planet by 2030. Behdad Eghbali cofounded Clearlake Capital in 2006 with Jose E. Feliciano. Related by financial asset: Clearlake Capital, Related by origin of wealth: private equity, Resides in Los Angeles, CA Metropolitan Area. +1 732-433-5200 What relegation means for Chelsea is frankly a league that has three partners leaving and three entering each year.. You can still enjoy your subscription until the end of your current billing period. We also may change the frequency you receive our emails from us in order to keep you up to date and give you the best relevant information possible. More information about TA can be found at www.ta.com. Based in Santa Monica, California, Clearlake's team consists of 59 professionals, including 24 investment professionals, all of which are located in Clearlake's sole office. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Eghbali spent a great deal of time working across Europe with Boehly in the summer transfer market, and held meetings with directors of some of the world's biggest clubs in his role. Todd went there on an all-star game. Clearlake currently has over $70 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. For cost savings, you can change your plan at any time online in the Settings & Account section. For more information, visit our Privacy Policy. Especially if you can improve it. We look at some of the US sports leagues and teams and NFL, NBA, NFL is profitable but there are revenue multiples at 5,6,7, 8, 10. To access all the content for free, please sign up by entering your email. To succeed in this competitive field, businesses must focus on technology and consider new emerging factors. A league and a sport that is optimised, clearly not everything is created equal but a four billion fanbase on a cumulative market gap of 30 billion maybe and cumulative media revenue of five or six billion against 20 for the NFL on 20 times the fanbase globally. I would say, we think winning and a good product on the pitch and commercial success go hand in hand. We think the individual club is stronger. He is involved in some of Clearlakes recent investments such as symplr and Unifrax. 1452. There's certainly a market we think for long-duration ownership for specific assets where we give LPs a choice to sell or stay in. Four E-Design Business Trends To Watch In 2023, The Pivot Cycles E-MTB Lineup Defines This New Mountain Biking Category, Mercedes-Benz To Offer Webex In New E Class Cars, Tears, Laughter And Accolades At The Inaugural Jose Hess Design Awards, How To Establish A Strong E-Commerce Presence For Home Improvement Solutions, The Forbes 400 2022: 10 Richest Newcomers, The Forbes 400 2022: 10 Billionaires Under 40, Do Not Sell or Share My Personal Information, Limit the Use of My Sensitive Personal Information. The plan will take time, will take patience, dedication . By continuing to browse, you hereby agree to the use of cookies. Mr. Arzac focuses on sourcing, structuring, and executing Clearlakes debt-related investments as well as other firm-wide strategic initiatives and special projects. In May 2022, Clearlake Capital joined billionaire investor Todd Boehly and several others in the $3 billion purchase of English soccer team Chelsea FC. This website uses cookies to improve your experience while you navigate through the website. The award, which is focused on consortiums in Europe, the Middle East and Africa, was given this week, confirmed by the Clearlake Capital Group on Twitter. You're not signing the 30-year-old free agent, you're signing players, keeping players, you're not subject to arbitration. (function(){var cid=document.createElement("script");cid.async=true;cid.src="//seal.digicert.com/seals/cascade/seal.min.js";var s = document.getElementsByTagName("script");var ls = s[(s.length - 1)];ls.parentNode.insertBefore(cid, ls.nextSibling);}()); We use cookies to enhance your user experience. Behdad Eghbali and Jos Feliciano are cofounders of Clearlake Capital, which was the primary financial backer of the group that just purchased Chelsea. These are global assets, global audiences which we think we can certainly help grow. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. As always you can unsubscribe at any time. Something went wrong, please try again later. The deal, led by U.S billionaire Todd Boehly and the private equity firm, was completed at the end of May after two months of uncertainty. So in terms of alignment to grow the pie, and redistribute the pie it's not exactly what the US sports leagues and teams, the fraternity that exists. If youve been thirsty for a legitimately huge UFC pay-per-view event, one that bridges the gap between casual mixed martial arts fans and the hardcore, there is one on the doc for Saturday night at the T-Mobile Arena in Las Vegas. As the popularity of e-bikes grow, it's important for insurance companies to become educated on these vehicles and the laws surrounding them. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. By taking advantage of the full possibilities of automated AI-based recommendations, retailers can stop fearing anonymous shoppers. Reflects change since 5 pm ET of prior trading day. Feliciano, who was born in Puerto Rico, is on the board of trustees of Stanford University and the Smithsonian National Museum of the American Latino. There have been solutions for that in terms of ownership level. Chelsea are holding a new round of talks over their 1.5 billion stadium project as the Todd Boehly-Clearlake Capital owners inch closer to a decision that will shape the club's future. They're not optimised, some of the US ownership, Fenway Group with Liverpool or Abu Dhabi model with Man City have done it well but for the most part, these things haven't been optimised. Read more: Chelsea make four major goalkeeping decisions as Todd Boehly receives fresh transfer plan. "We thank everyone for their ongoing support, and congratulate our team members . Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. . The approach to mobile is 1999 in terms of most of the clubs out there, again Fenway does it well, is nicely profitable. Not subject to arbitration, certainly subject to free agency but the model of six, seven, and eight-year contracts earlier based on players you've retained who have market value we think can be a sustainable model. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. The affinity level of sports, and everyone has an opinion so everyone has an opinion on all of the above. It is mandatory to procure user consent prior to running these cookies on your website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Scroll to Continue Read More Behdad Eghbali. SANTA MONICA, CA April 3, 2019 Clearlake Capital Group, L.P. (together with its affiliates, Clearlake), a leading global private equity and alternative asset investment firm, today made several announcements including naming five Clearlake veterans as Partners and/or Managing Directors, several other promotions within the firm, and new senior level additions to the team. There are teams in small cities in Europe that sell 40-50,000 seats. Two, if done right, if you use data, if you're thoughtful about this global market for talent and access of talent that is not effectively done through a draft or an extensive college or baseball farm system which I would attribute as a multi club model. They are to some degree public-private partnerships but like anything you've got to put a good product on the field. Clearlake currently has approximately $4 billion of assets under management, and its senior investment principals have led or co-led more than 90 investments. We have content from players in the academy, Chelsea academy along with Barcelona probably the two best in Europe, we have stars starting six, seven, and eight. The private equity firm is based in Santa Monica, California. You can capture, acquire, retain, sign talent and monetise talent. Standard Digital includes access to a wealth of global news, analysis and expert opinion. There are certainly businesses you want to own for a long time and private equity has to evolve from the formation 'Hey, I raised a fund, I've got to sell'. The ESPN special worked because Michael Jordan won. var __dcid = __dcid || []; The owner is from a sport gaming, data background. We also use third-party cookies that help us analyze and understand how you use this website. But is it bad? 2018 Cohesive Capital. He is involved in some of Clearlakes recent investments such as Janus. With more than 20 years of related experience, Mr. Urrutia is responsible for the management of Clearlakes corporate accounting and operations departments. Behdad Eghbali is the managing partner of Clearlake Capital Group LP, which he cofounded in 2006. More info For more information, contact Santiago Arana and . Behdad Eghbali could resurrect major 5.7bn NFL plans after Chelsea purchase Clearlake Capital co-founder Behdad Eghbali has been linked with a move for the NFL team Washington Commanders despite already having a keen interest in Chelsea Chelsea By Richard Cusack Football writer. We use your sign-up to provide content in the ways you've consented to and improve our understanding of you. Europe, Menlo Park, China), Where the person is located (e.g. [3] It is a technique where Clearbridge will find another private equity firm to buy a large portion of one of its existing investments and then offer investors a chance to sell at a new valuation or roll their stake into a new fund that will hold the investment for a few more years. [15] In 2016 Clearlake, took a controlling stake in Vision Solutions. Monetising some of that content into a 30 for 30 or a lot of the stories we like to have as opposed to sharing with the leagues. We think there's a lot to do around games, media, and live content stories. As investment banks and hedge funds struggle, private equitya business predicated upon raising capital subject to long-term lock-ups to invest in assets using large amounts of leverageis enjoying go-go times. More information is available at www.clearlake.com and on Twitter @Clearlake. "We are excited to be partnering with Sharon to create a leading web presence platform that will benefit from significant economies of scale to drive growth in an attractive market," said Behdad Eghbali, Founder and Managing Partner, and James Pade, Partner of Clearlake. I think 90-95% depending on the team, of the top teams in England the fanbases are outside of the UK. Pretty incredible. "This acquisition is a continuation of Precisely's long history generating . These cookies will be stored in your browser only with your consent. But opting out of some of these cookies may affect your browsing experience. Founded in 2006, Clearlake Capital Group, L.P. is an investment firm operating integrated businesses across private equity, credit and other related strategies. Background. Jones is a singer, investor and philanthropist. These are 200,000-person cities. By continuing to browse, you hereby agree to the use of cookies. One, if done well you can make money on each specific enterprise. Can you pick up on the idea of Disney or a platform or a beachhead and what you're trying to achieve there? Clearly, our approach was, it so happened because of a global conflict Chelsea was available and we thought we'd start with that. Clearlake Capital's 4.25bn investment to purchase Chelsea football club has been named Deal of the Year in the Private Equity International 2022 Awards. ", Chelsea press conference LIVE: Graham Potter on his future, Leeds, Kante, Pulisic, more, Two Chelsea undroppables given new roles as Graham Potter makes tactical decision to beat Leeds, Jose Mourinho to Chelsea latest: Dream return, Todd Boehly contact and Roma drama, Zinedine Zidane to Chelsea latest: Luis Enrique battle, France job decision, Boehly desire, Chelsea owners Clearlake Capital make announcement about takeover, Chelsea owner Todd Boehly completed a 4.25bn takeover in May, (Image: (Photo by Ivan Yordanov/MI News/NurPhoto via Getty Images)). Necessary cookies are absolutely essential for the website to function properly. It doesn't have to be a super league. 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