Clearlake Culture
Updated thoughts on Clearlake’s culture? Heard not so great things, also confused as to their junior:senior ratio. Does no one get promoted?
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Heard it’s a sweatshop and not great culture. Also promotion path is long and uncertain - they recently added a senior VP title before principal to elongate path to partner / founders can keep the economics to themselves. Have heard of multiple cases of juniors getting pushed out even before they’re up for promotion
Thanks, could you give a bit more color on not great culture? Are they mean? What’s sweaty for LA?
Secondhand source but don’t think people are in your face mean - just less of a collegial / collaborative environment (everyone looking out for themselves and willing to throw others under the bus). Hours are not easy from what I’ve heard - don’t have specifics. Would add the well discussed topic of Clearlake’s mixed performance over past few years (tons of trouble for their PortCos and trying to put out fires probably doesn’t bode well for culture and hours)
Have a friend that used to work there (secondhand, grain of salt, etc). It was very sweaty in terms of the long hours with small deal teams. They have a broad mandate for example they do lots of add ons for some of their companies, do some turnaround and buy distressed debt as well. While the experience can be good, the hours make it so that there’s little time to think about what you’re doing. Their recent investments also haven’t been performing well, though sounds like they will still be able to fundraise but likely means a longer path to promotion.
Have never seen Clearlake buy distressed debt once in my life. They certainly have a lot of it though.
Its a typo, he meant they create distressed debt
Clearlake does have an opportunistic fund - but the days of Clearlake are numbered
They bought Service King (nka Crash Champions) through the debt, which turned over out of court in 2022 from Bx, and have been big holders in a few recent situations like United Site Services and Cision (both reported in BBG)
Also have been buying their own portco debt, which has been a factor in some of their recent LMEs
Anyone know what comp looks like?
Bump
Are u in process? HSP told me they are not looking at candidates till ~Jan
Any details on interview process?
Bumping
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