Clearwater Analytics to Acquire Enfusion in $1.5 Billion Deal

The acquisition aims to create a unified investment management platform, pending regulatory and shareholder approvals by Q2 2025.

Clearwater Analytics has agreed to acquire Chicago-based Enfusion for $1.5 billion in a cash-and-stock deal, valuing Enfusion at $11.25 per share.
The deal includes $30 million to terminate Enfusion’s tax receivable agreement and offers shareholders the option to receive cash, stock, or a mix of both.
Clearwater intends to combine its middle and back-office solutions with Enfusion’s front-office portfolio and order management tools to create a comprehensive investment management platform.
The acquisition is expected to close in Q2 2025, subject to regulatory and shareholder approvals, with key shareholders already supporting the deal.
Clearwater plans to leverage Enfusion’s expertise in hedge fund solutions and global presence to expand its market reach and enhance its service offerings.