Nevada PERS Announces Exit from Clearlake
The $74.9 billion Nevada Public Employees’ Retirement System (PERS) is exiting its exposure to Clearlake Capital, according to Buyouts Insider. This decision stems from Clearlake’s agreement to acquire Pathway Capital Management, which Nevada PERS believes poses issues for its own private equity portfolio.
Background on Nevada PERS
Nevada PERS, a major US pension fund, manages a $74.9 billion portfolio that includes private equity investments. As a large institutional investor, it has exposure to firms like Clearlake, but the recent acquisition announcement has prompted a reevaluation, as pension funds commonly navigate such conflicts in their allocations.
Reason for the Exit
Clearlake’s agreement to acquire Pathway Capital Management is seen by Nevada PERS as creating conflicts of interest that affect its private equity holdings. According to Buyouts Insider, this move directly impacts Nevada PERS’s portfolio, leading to the decision to exit. Such actions highlight how acquisition-related issues can influence LP strategies in private equity.
Source and Context
The story was reported by Hannah Zhang on March 18, 2026, in Buyouts Insider, tagging it under LP News and Pensions. Widely known in institutional investing, pension funds like Nevada PERS often adjust exposures to maintain portfolio integrity amid industry changes.
