Warburg, Permira in talks to buy Clearwater Analytics, source says
Published by Global Banking & Finance Review®
Posted on November 15, 2025
1 min readLast updated: January 21, 2026

Published by Global Banking & Finance Review®
Posted on November 15, 2025
1 min readLast updated: January 21, 2026

Warburg Pincus and Permira are in discussions to acquire Clearwater Analytics, a prominent investment software company, with the deal potentially taking weeks to finalize.
By Milana Vinn
(Reuters) -Global private equity firms Warburg Pincus and Permira are in talks to buy investment and accounting software maker Clearwater Analytics, a source familiar with the matter told Reuters on Friday.
Boise, Idaho-based Clearwater makes software that helps companies manage their investment portfolios.
A deal by the two buyout firms, which helped take Clearwater public in 2021, could take several weeks, the source said.
Bloomberg News reported on the talks earlier on Friday, citing people familiar with the matter.
Warburg Pincus, Permira, and Clearwater Analytics Holdings did not immediately respond to a request for comment.
Clearwater, which went public in 2021 at a valuation of $5.5 billion, had a market capitalization of around $5.63 billion as of Friday's close, according to LSEG calculations.
(Reporting by Milana Vinn in New York and Mihika Sharma in Bengaluru; Editing by Tom Hogue and Shri Navaratnam)
Private equity refers to investment funds that directly invest in private companies or buy out public companies, resulting in their delisting from stock exchanges. These investments are typically made by private equity firms.
An investment portfolio is a collection of financial assets such as stocks, bonds, and other securities held by an individual or institution. It is designed to achieve specific investment goals.
Market capitalisation is the total market value of a company's outstanding shares of stock. It is calculated by multiplying the stock price by the total number of shares.
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