Simpson Thacher is representing Blackstone in connection with an agreement to sell Bistro, Blackstone’s proprietary portfolio visualization software platform built for Blackstone’s Credit & Insurance business, to Clearwater Analytics for $125 million, paid in cash and shares of Class A common stock of Clearwater. Blackstone developed Bistro to support the growth of its insurance clients and provide a comprehensive view of private credit portfolios, including asset analytics, client reporting and risk management insights.
Clearwater offers SaaS solutions for investment portfolio planning, performance reporting, data aggregation, reconciliation, accounting, compliance, risk and order management.
The Simpson Thacher team includes Elizabeth Cooper, William Allen and Matt Suhosky (M&A); Lori Lesser, Alysha Sekhon and Christian Bond (Intellectual Property); Gregory Grogan, Jamin Koslowe and Guanxiong Xu (Executive Compensation and Employee Benefits); Nancy Mehlman, George Rhein and Shoshana Schorr (Tax); and William Golden (Capital Markets). Si Sun also provided valuable assistance.