HedgeCo.Net — Carrick Capital Partners said Monday it had closed a single-asset continuation vehicle for identity-security company Saviynt with about $600 million of capital commitments, including a new $255 million investment that the firm called the largest in its history. The PR Newswire release is the primary. ABF Journal independently printed the same $600 million vehicle, the same $255 million follow-on, and the same Coller Capital lead with HSBC Asset Management as co-lead.
Existing Carrick limited partners were offered a choice: roll into the continuation vehicle or realize an 11x gross multiple, 10x net, on Carrick’s original Saviynt investment. The new Carrick money went in as part of the final close of Saviynt’s Series B and helped fund an employee tender. Saviynt recently said it had surpassed $300 million of annual recurring revenue, up from about $10 million at Carrick’s first check, and this year has grown bookings more than 80 percent with 96 percent customer retention. The Series B was $700 million at a valuation of about $3 billion.
Carrick led Saviynt’s $35 million Series A and was the company’s only institutional investor until the Series B. Robert W. Baird advised Carrick. Proskauer Rose advised on the continuation vehicle; Latham & Watkins advised on the new investment. Coller’s about page in the same release puts the secondaries firm at $55 billion of private-market vehicles as of 31 March 2026. HSBC Asset Management managed US$928 billion as of 30 June 2026, excluding HSBC Jintrust.
This is a GP-led single-asset continuation plus a follow-on into a live Series B, not a new flagship close. Mark $600 million as the vehicle, $255 million as Carrick’s new check, and 11x gross / 10x net as the realization option on the original entry. Do not add the $700 million Series B into the continuation vehicle, and do not treat Coller’s $55 billion AUM as capital raised in this deal. Past performance, including that multiple, is not a forecast.