Clearwater Reportedly Struggling to Reach $1B Target
The last time Buyouts, peHUB's sister publication, wrote about Clearwater Capital was January of 2010, when the firm had just begun to raise money for its latest fund, Clearwater Capital Partners IV. Its ambitious $1 billion target seemed reasonable back then, especially since Clearwater’s previous fund, Clearwater Partners III—which closed in 2007—raised $900 million, well above its original $500 million target. Twenty months later, however, it seems Clearwater, which invests in Asian distressed debt and special situations outside Japan, is facing some blustery fundraising headwinds. As of this month, Fund IV has only been able to raise between $200 million and $300 million, according to press reports. An executive at the firm declined to discuss the firm’s fundraising efforts or verify figures. The firm’s placement agent, Greenhill & Co., also declined to comment.
