Clearwater Analytics announced the completion of its previously announced take-private acquisition by an investor group led by Permira and Warburg Pincus.
The transaction was valued at approximately $8.4 billion and was supported by Francisco Partners, with participation from Temasek. With the completion of the deal, Clearwater’s Class A common stock no longer trades on the New York Stock Exchange.
Under the terms of the agreement, Clearwater stockholders received $24.55 per share in cash. The company said this represented an approximately 47% premium to Clearwater’s undisturbed share price on November 10, 2025, the last trading day before media reports regarding a potential transaction.
The transaction followed a review process overseen by a Special Committee of independent and disinterested members of Clearwater’s Board of Directors. The Special Committee unanimously recommended approval of the transaction, which was also approved by the Board and Clearwater stockholders, including a majority of votes cast by disinterested stockholders.
Clearwater said the transaction positions the company to accelerate investment in its AI roadmap and next-generation platform. The company’s platform is built around a single, real-time view of investment assets across public and private markets, which Clearwater said provides the data foundation needed to advance agentic AI capabilities.
As a private company backed by Permira and Warburg Pincus, Clearwater said it gains greater flexibility to scale its current platform while building a generative AI and agentic platform for institutional investors.
Clearwater supports more than $10 trillion in assets globally for insurers, asset managers, hedge funds, banks, corporations, and governments. Its platform supports portfolio management, trading, accounting, risk, compliance, and private markets workflows on a single continuously reconciled investment record.
J.P. Morgan acted as financial advisor to Clearwater, and Kirkland & Ellis served as legal counsel. PJT Partners served as exclusive financial advisor to the Special Committee of Clearwater’s Board, and Cravath, Swaine & Moore served as legal counsel.
Goldman Sachs acted as financial advisor to the investor group. Private Credit at Goldman Sachs Alternatives provided 100% committed debt financing. Latham & Watkins served as M&A counsel to the investor group, and Paul, Weiss, Rifkind, Wharton & Garrison served as finance counsel.
KEY QUOTES:
“We have built Clearwater on a conviction that most of the industry thought was too ambitious: that investment teams deserve a single, real-time view of everything they own, every asset, every day, across every market. Innovation and disruption have been the key drivers of growth for over a decade.”
“Our ability to focus on scaling our current platform while building a Gen AI agentic platform is meaningfully enhanced by going private. Our clients depend upon us to be stewards of the platform they use, and our investments will ensure that they remain at the forefront of technological innovation for running their business.”
Sandeep Sahai, CEO of Clearwater Analytics
