Clearwater Analytics has completed its acquisition of software-as-a-service (SaaS) solutions provider for the investment management and hedge fund sectors, Enfusion.
Sandeep Sahai
The deal, which was announced in January 2025 and is valued at approximately $1.5 billion, is set to provide the first single-instance, multi-tenant, cloud-native front-to-back platform for the entire investment management industry.
The company has said that the acquisition will create a modern platform designed to drive faster decision-making and operational clarity by integrating Enfusion’s portfolio and order management, IBOR, risk, accounting and client reporting into one solution.
“By combining Enfusion’s strong front-office capabilities with our established middle and back-office solutions, we are accelerating our journey towards a fully integrated, cloud-native front-to-back investment management platform,” said Sandeep Sahai, chief executive of Clearwater Analytics.
“This combination will eliminate costly data handoffs and inefficiencies stemming from fragmented workflows, empowering our clients to make faster, data-driven decisions with complete confidence in their data.”
The firm has also said that the deal will address common challenges facing institutional investors, such as complexity across portfolios, geographies and asset classes and reliance on outdated systems.
A key focus of the acquisition is front-to-back leadership. Integration of Enfusion’s front office capabilities with Clearwater’s middle- and back-office solutions is expected to excel expansion of Clearwater’s Total Addressable Market, 66% of which stems from the asset management industry.
Moreover, Clearwater has highlighted the opportunities for international growth offered by the deal, including serving new clients from global hubs such as Boise, New York, Edinburgh and New Delhi.
“The operational benefits are immediate: no batch processing, no manual reconciliation, and no duplication of data,” said Neal Pawar, President, head of asset management at Clearwater Analytics and former chief operating officer at Enfusion.
“Clients now have a shared, live view of their portfolios and operations—enabling faster execution, stronger risk oversight, and a platform that evolves with them. This is the new foundation for institutional investment technology and operations.”
Acquisitions have been a clear focus for Clearwater in recent years, and in April 2024, the firm announced that it had closed a transaction with Wilshire Advisors’ risk analytics platforms for $40 million.
Read more – Clearwater picks up Wilshire Advisors’ risk analytics platforms for $40 million
Similarly, it recently acquired Blackstone’s BISTRO platform to add deep analytics and data infrastructure for private and structured credit markets and announced its intent to acquire enterprise risk analytics and technology infrastructure provider, Beacon.