June 27, 2022

Cayman: Maples Group Represents Clearlake on Chelsea FC Acquisition and Close of Seventh Flagship Fund 

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Patrick Rosenfeld

Maples and Calder, the Maples Group’s law firm, is pleased to have recently provided Cayman Islands counsel to Clearlake Capital Group, L.P. (“Clearlake”) and its related entities, on its acquisition of Chelsea Football Club (the “Club”) and related affiliates in a consortium co-led by Todd Boehly, chairman and CEO of Eldridge. The ownership consortium included Hansjörg Wyss, founder of the Wyss Foundation and Mark Walter, co-founder and CEO of Guggenheim Capital.  The transaction completed on 30 May 2022. 

Under the terms of the agreement, Mr Boehly and Clearlake will share joint control and equal governance of the Club.  Mr Boehly will serve as Chairman of the holding company.

The firm also advised Clearlake on its completion of fundraising for its seventh flagship private equity fund, Clearlake Capital Partners VII (“Fund VII”), with more than US$14.1 billion in commitments. With an initial target of US$10 billion, Fund VII reached its hard cap and was significantly oversubscribed including commitments from the general partner and affiliates.

A multi-disciplinary team of lawyers based in the firm’s Cayman Islands office acting as legal advisers to Clearlake was led by Patrick Rosenfeld (Funds & Investment Management Partner) and included Tina Meigh (Partner and head of the Cayman Islands Finance practice), Christina Gordon (Funds & Investment Management Partner), Adam Huckle (Regulatory & Financial Advisory Partner) and  Robin Gibb (Finance Associate). 

Commenting on the transactions, Patrick Rosenfeld said, “We were delighted to advise Clearlake on these significant transactions. Our specialist skills and knowledge across our broad range of practice groups enables us to provide comprehensive legal advice within the investment funds and sports, media and entertainment sectors.”

ENDS

About the Maples Group 

The Maples Group is a leading service provider offering clients a comprehensive range of legal services on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg and is an independent provider of fiduciary, fund services, regulatory and compliance, and entity formation and management services.  The Maples Group distinguishes itself with a client-focused approach, providing solutions tailored to their specific needs.  Its global network of lawyers and industry professionals are strategically located in the Americas, Europe, Asia and the Middle East to ensure that clients gain immediate access to expert advice and bespoke support, within convenient time zones.  For more information, please visit: maples.com.

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