Clearlake Capital Group has acquired Pathway Capital Management, creating a private markets powerhouse with over $185 billion in combined assets under management. The deal brings together two significant players in institutional and wealth market solutions, though terms weren't disclosed.

Pathway, founded in 1991 and based in Irvine, California, manages more than $95 billion in assets. The firm will maintain its existing brand and continue operating under the leadership of James Chambliss, Richard Mazer, and Alex Casbolt, preserving its distinct market approach.

The acquisition strengthens Clearlake's position in private market investing while expanding its reach across institutional client segments. Pathway's established infrastructure and client relationships complement Clearlake's investment strategy.

With over 500 global employees across the combined platform, the merger creates substantial scale for competing in private equity, credit, and other alternative investments. This consolidation reflects ongoing trends toward larger asset managers pursuing growth through strategic acquisitions.