Founded by Rob McGrath, Overbay is a Toronto-based private equity secondaries specialist with around $3 billion in AUM.
The secondary market specialist will remain independently managed by its existing leadership team, with no changes to its investment strategy.
The move supports Clearlake's private markets growth, adding complementary capabilities across private equity, private credit, infrastructure, secondaries, and co-investments.
The two managers have also entered a long-term strategic partnership under which Stable will manage and monitor the portfolio on behalf of the Australian firm.
The partnership reflects "strong conviction with regards to the broad development of the secondaries market," said Gilles Dusaintpère, Head of GP Stake Investments at BNPP AM Alts.
Founded by Rob McGrath in 2016, Overbay Capital Partners is a Toronto-based private equity secondaries investor with over $2.5 billion in AUM.
The Connecticut-based firm and its affiliates own and operate a diversified group of 30 industrial, manufacturing, and distribution businesses.
SecondaryLink previously reported on the deal that will help KKR build a new platform for sports, GP solutions, and secondaries.
The newly combined entity is expected to double the size of Coller's secondaries business in less than four years.
Bonaccord first backed the London-based private credit investor in 2021, helping scale its platform and broaden global reach.
