Permira and Warburg Pincus takes Clearwater Analytics private

● PLATFORM | FINTECH

JANUARY 5, 2026

Permira and Warburg Pincus takes Clearwater Analytics private

TARGET

Clearwater Analytics provides investment accounting and analytics software used by insurers, asset managers, and other institutional investors.

Ownership	Publicly traded
Investors	Welsh, Carson, Anderson & Stowe, Permira, Warburg Pincus, Dragoneer Investment Group, Durable Capital
Capital raised	$540M
Headcount	3,000 FTEs
Headquarters	Boise, Idaho
Leadership	Sandeep Sahai, CEO
Sell-side advisor	—

ACQUIRER

Permira and Warburg Pincus

Permira and Warburg Pincus are global private equity firms co-leading the acquisition.

Deal value	$8.4B transaction value
Ownership	—
Deal leads	Andrew Young (Permira; Warburg Pincus) Philip Muelder (Permira; Warburg Pincus) Alberto Riva (Permira; Warburg Pincus) Andrew Ren (Permira; Warburg Pincus) Wendy Jo (Permira; Warburg Pincus) Alex Stratoudakis, Managing Director (Warburg Pincus) Angel Pu Shum, Principal (Warburg Pincus)
Buy-side advisor	—

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Permira and Warburg Pincus -> Clearwater Analytics  (2026-09-11)
take_private | FinTech | $8.4 billion transaction value | announced
Target: Clearwater Analytics provides investment accounting and analytics software used by insurers, asset managers, and other institutional investors.
Website: clearwateranalytics.com | Buyer site: permira.com
HQ: Boise, Idaho | Ownership: public
Advisors - not yet credited
Source: Thematic - https://thematichq.com/software/d/permira-and-warburg-pincus-clearwater-analytics.html

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