Clearwater Analytics has completed its previously announced $1.5bn acquisition of Enfusion, in a move to solidify its position in the investment management technology landscape.
The transaction, consisting of cash and stock valued at $11.25 per share, includes a $30m payment to end Enfusion’s tax receivable agreement.
First announced in January 2025, the acquisition enables Clearwater Analytics to develop a comprehensive cloud-native platform that integrates front, middle, and back-office investment operations.
By consolidating portfolio and order management, investment book of record (IBOR), risk assessment, accounting, and client reporting, Clearwater Analytics aims to eliminate fragmented processes in the sector.
Clearwater Analytics CEO Sandeep Sahai said: “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.
“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 integration with Enfusion is set to streamline complex investment operations for institutional investors by offering a unified data model and seamless workflow integration.
Clearwater Analytics president and asset management head Neal Pawar said: “Enfusion adds proven front-office depth to the Clearwater platform, giving our clients real-time access to portfolio and order management, IBOR, risk, and reporting—all in one system.
“The operational benefits are immediate: no batch processing, no manual reconciliation, and no duplication of data. 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.”
The deal is expected to drive growth in Clearwater Analytics’ largest market segment, asset management, while also enhancing its capabilities in the hedge fund space.
Enfusion’s technology is anticipated to expand Clearwater Analytics’ market reach and international presence, with significant revenue contributions from Europe and Asia.
This acquisition follows Clearwater Analytics’ purchase of Blackstone’s BISTRO platform and its announced intent to acquire Beacon.
