Santa Monica-based alternative investment firm Clearlake Capital Group has acquired a bundle of loans from LCM Asset Management, expanding its liquid credit platform by $5 billion in managed assets.

The deal adds 31 collateralized loan obligation contracts to Clearlake Credit, the $185-billion firm’s liquid and private credit investing platform.

Launched in May 2025 after MV Credit and WhiteStar Asset Management folded in, the platform has deployed roughly $89 billion in credit to more than 3,100 companies.

The deal boosts assets managed by Clearlake Credit to $39 billion across liquid credit, private credit and other customized credit options, the firm said in a release.

Attorneys with the Century City outpost of Milbank and downtown office of Dechert represented Clearlake Credit in the transaction, while GreensLedge Capital Markets advised the seller.

“The acquisition further broadens the firm’s capabilities, deepens its relationships with institutional investors, and reinforces its client-centric approach and commitment to seeking attractive risk-adjusted returns across market cycles,” Clearlake said.

Investment pools

Liquid credit platforms manage investing in bonds, senior secured loans and other tradable credit instruments.

A significant segment of the market consists of CLOs, which hold pools of senior secured loans and sell slices of debt to investors seeking higher yields and spreads. Clearlake Credit has deployed $59 billion in liquid credit to syndicated and other secondary markets in the U.S. and Europe.

Last week also saw a boost to Clearlake’s private markets platform, which brought on $95-billion Pathway Capital Management.