Warburg Pincus and Permira-Led Investor Group to Acquire Clearwater Analytics in $8.4 Billion Deal

Paul, Weiss is advising an investor group led by Warburg Pincus and Permira on the financing aspects of its $8.4 billion acquisition of Clearwater Analytics. Clearwater is transforming investment management with the industry’s most comprehensive cloud-native platform for institutional investors across global public and private markets. The investor group includes participation from Temasek and key support from Francisco Partners.

Under the terms of the deal, Clearwater stockholders will receive $24.55 per share in cash upon completion of the proposed transaction, at which point Clearwater will become a privately held company. The deal is expected to close in the first half of 2026, subject to customary closing conditions.

The Paul, Weiss team is led by corporate partners Eric Wedel, Ben Steadman and Caroline Epstein, and includes tax counsel Samir Kurani. In addition, corporate partners James Langston and Nickolas Bogdanovich are advising Warburg Pincus on equity components of the transaction.