SCHEDULE 13G/A: Permira-Affiliated Entities Reduce Stake in Clearwater Analytics Below 5%
Beneficial Ownership Update
A group of Permira-affiliated entities, including Galibier Purchaser, LLC, have reduced their beneficial ownership in Clearwater Analytics Holdings, Inc. Class A Common Stock to 4.4%, falling below the 5% threshold and dissolving their reporting group.
Summary
- Galibier Purchaser, LLC, Galibier Holdings, LP, Galibier Holdings GP, LLC, Gali SCSp, and Permira VII GP S.a r.l. (collectively, the "Reporting Persons") have filed an Amendment No. 4 to Schedule 13G regarding their ownership in Clearwater Analytics Holdings, Inc.
- As of December 31, 2024, the Reporting Persons collectively beneficially own 7,983,533 shares of Clearwater Analytics Holdings, Inc. Class A Common Stock.
- This ownership represents 4.4% of the Class A Common Stock outstanding, based on 172,050,286 shares outstanding as of October 31, 2024.
- The 7,983,533 shares are issuable upon conversion of an equal number of Class D Common Stock, convertible within 60 days of December 31, 2024.
- The Reporting Persons are no longer subject to Section 13 reporting requirements because their aggregate ownership is less than five percent and they are no longer subject to the Stockholders' Agreement, thus ceasing to be members of a group.
Sentiment
Score: 5
Explanation: The document is a factual disclosure of a change in beneficial ownership and reporting status, containing no explicit positive or negative operational news for the company.
Future Outlook
The document does not provide any forward-looking statements or guidance regarding Clearwater Analytics Holdings, Inc.'s future performance or strategic direction.
Industry Context
This filing reflects a change in the ownership stake of a significant institutional investor group (Permira-affiliated entities) in a publicly traded financial technology company. Such changes can indicate shifts in investment strategy or portfolio rebalancing by large funds, which may be observed across the broader investment landscape.
Stakeholder Impact
- Shareholders: The reduction in stake by a significant institutional investor group could be interpreted by the market as a decrease in long-term institutional commitment or a precursor to further divestment, potentially influencing investor sentiment and share price.
Key Dates
| Date | Description |
|---|---|
| 2022-11-14 | Original Schedule 13G filed, referencing the Stockholders' Agreement. |
| 2024-10-31 | Date as of which 172,050,286 shares of Class A Common Stock were outstanding, as disclosed in the Issuer's Form 10-Q. |
| 2024-12-31 | Date of event which requires filing of this statement; beneficial ownership calculated as of this date. |
| 2025-02-13 | Date of filing of this Schedule 13G Amendment No. 4. |
Keywords
Clearwater Analytics, Permira, Galibier, SEC filing, Schedule 13G, beneficial ownership, Class A Common Stock, institutional ownership, investment firm, financial technology
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