Clearwater Analytics is acquiring two portfolio visualisation tools to offer a whole-portfolio view for clients across public and private markets.
Beacon provides cross-asset class modelling and risk analytics for derivatives, private credit and debt, structured products and other alternative assets. Portfolio visualisation software platform Bistro was developed for Blackstone’s credit and insurance business, providing an overview of private credit portfolios.
Both companies are already integrated with Clearwater, with the purchase agreements bringing the three firms’ services together into a single solution. Clearwater expects the integration process to take between one and two years, it indicated.
Following the integration, clients will be able to see their exposures to particular companies, industries or geographies across their portfolios.
“That will, in turn, allow them to model their entire portfolio, evaluate cash flows and understand risk,” explained Sandeep Sahai, Clearwater Analytics CEO. “With this combination, chief investment and chief risk officers will have a unified, real-time view of their entire portfolio – from public equities and private credit to structured products and alternatives – all in a single, cloud-native platform.”
Beacon is being purchased in a US$560 million deal, 60% will be paid in cash. The remainder will be paid in Clearwater Class A common stock, which is valued at US$30.05 per share. The Bistro deal is more share-heavy, with just US$10 million of the US$125 million being paid in cash. The company’s Class A common stock is valued at US$30 a share.
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