Debtwired! Clearlake’s Pade weighs in on deal flow, LMEs and reputation
Sep 8, 2025
James Pade, a partner and managing director at Clearlake Capital Group, shares insights on credit market dynamics and investment strategies. He discusses Clearlake's consolidation of its credit arms, enhancing their ability to offer cohesive solutions. Pade highlights the challenges for smaller CLO managers and the significance of strong sponsor relationships. He delves into the nuances of liquid versus private credit, exploring opportunities despite rising interest rates and geopolitical shifts in the US and European markets.
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Unconventional Path To Credit
- James Pade described leaving school to try pro tennis and later landing a job at Google before moving into finance.
- That non-linear path taught him business curiosity and adaptability that shaped his credit career.
Integration Creates A Single Sponsor Touchpoint
- Clearlake integrated multiple credit teams to offer one coordinated solution across private and liquid credit.
- The goal is a single touchpoint to cover sponsors across the capital structure and scale sourcing.
Liquid Market Is A Two-Tier Game
- Liquid credit shows a bifurcated market with very tight spreads for top names and limited access for weaker credits.
- CLO math still works but managers must be selective given thin new issuance and tight first‑lien spreads.