Deal Details

Carrick Completes Single Asset Continuation Vehicle for Saviynt

Technology & Services

Carrick single asset continuation vehicle for Saviynt

Summary

Carrick Capital Partners ("Carrick") closed a single asset continuation fund for Saviynt (the “Company”), a leading identity security platform that manages, secures and governs access for human, non-human and AI agent identities across the world’s leading brands, Fortune 500 companies and government institutions. The continuation fund provides an attractive liquidity option to existing Carrick Fund II investors and includes a new $255 million investment in the Company, which was made as part of the final close of Saviynt’s $700 million Series B financing and funded a tender offer that provided liquidity to Company employees. Together, the transactions extend Carrick’s partnership with a proven platform and align Carrick with Saviynt’s management team and new Series B investors in delivering long-term value.

Coller Capital was the lead investor and HSBC Asset Management acted as co-lead investor in the continuation fund, which also included meaningful participation from Carrick’s GPs.

Baird served as financial advisor to Carrick on the continuation fund transaction. Baird’s GP Solutions and Software teams worked in tandem to conduct an efficient and competitive process to achieve Carrick’s key objectives.

About

Carrick Capital Partners is a growth-oriented investment firm that operationally scales B2B software and technology-enabled businesses. Carrick invests thematically in sectors where the firm has deep domain expertise, sourcing the majority of its investments through long-term, proprietary relationships with founders, and is frequently the first institutional capital in its portfolio companies. Through its ABV (Approach to Building Value), Carrick takes a concentrated approach and dedicates significant resources post-investment, partnering with management teams to drive growth, retention and margin expansion through automation and AI enablement. Carrick is co-headquartered in San Francisco and Newport Beach, California.

Saviynt is the identity security platform built to secure the modern enterprise. The Saviynt Identity Cloud manages, secures and governs access for human, non-human and AI agent identities across an organization’s applications, data and infrastructure, and with Zuma, its enterprise AI identity security platform, Saviynt helps organizations build, run and scale AI with confidence. The world’s leading brands trust Saviynt to reduce risk, improve visibility and support compliance while enabling business agility. Saviynt is headquartered in El Segundo, California.