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Clearlake Capital has vastly expanded its disqualified lender (DQ) list to include almost 100 names for troubled plastic container manufacturer Pretium Packaging, according to 9fin sources.

The private equity firm’s move came after an investor disclosed its desire to take over Pretium Packaging and sought to build a big position in the company’s loan in the secondary market, sources said. Pretium has been on many investors’ watch list for its slim cash cushion and restructuring prospects, after the company inked an LME in 2023 aimed to cut net debt and boost liquidity.

While such blacklists are commonly used by sponsors to avoid investors that are seen as difficult to work with in a company’s restructuring, Clearlake does not intend to make giant DQ lists as part of its broader strategy, one of the sources said.