Camp where one may sleep by lake (7)

I believe the answer is:

coterie

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'camp' is the definition.
(synonyms)

'where one may sleep by lake' is the wordplay.
'where one may sleep' becomes 'cot' (I can't justify this - if you can you should believe this answer much more).
'by' says to put letters next to each other.
'lake' becomes 'erie' (Lake Erie is one of the Canadian/US 'Great Lakes').
'cot'+'erie'='COTERIE'

Can you help me to learn more?

(Other definitions for coterie that I've seen before include "Literary circle" , "Small exclusive group of people" , "Select group" , "Exclusive circle of people with common purpose" , "Exclusive social circle" .)

I've seen this clue in The Times.

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