Carrick Capital Partners Closes $600M Continuation Vehicle for Saviynt
Carrick Capital Partners has closed a continuation vehicle worth approximately $600 million to continue its investment in identity security company Saviynt. The transaction includes a new $255 million commitment from Carrick, with Coller Capital and HSBC Asset Management as lead investors. This move provides liquidity for existing limited partners while allowing them the option to roll their equity into the vehicle or realize significant returns on invested capital. Saviynt has seen substantial growth since Carrick's initial investment, surpassing $300 million in annual recurring revenue and achieving over 80% booking growth this year. The company also launched Zuma, an enterprise AI identity security platform that enhances its Identity Cloud offering to secure both human and non-human identities. The funding supports Saviynt’s Series B round at a valuation of approximately $3 billion, reflecting strong investor confidence in the firm's long-term potential as enterprises increasingly prioritize unified identity security for large-scale AI deployment.
Topics: AI platform capital raise identity security liquidity event