Carrick provides liquidity for existing Limited Partners and reinforces long-term conviction in Saviynt while the security leader surpasses $300 million in ARR and launches Zuma, its enterprise AI identity security platform
SAN FRANCISCO and NEWPORT BEACH, Calif., Aug. 31, 2026 — Carrick Capital Partners (“Carrick”), a growth-oriented investment firm focused on operationally scaling B2B software and technology-enabled businesses, today announced the closing of a single-asset continuation vehicle (the “CV”) for Saviynt (the “Company”), a leading identity security company, with approximately $600 million in capital commitments. The transaction includes a new $255 million investment in the Company with meaningful participation from Carrick’s GPs, representing the largest investment in the firm’s history.
Coller Capital was the lead investor and HSBC Asset Management acted as co-lead investor in the new vehicle, which offered Carrick’s existing limited partners the option to roll their equity into the CV or realize a 11x gross multiple (10x net) on invested capital in Carrick’s initial investment. Carrick’s new investment was made as part of the final close of Saviynt’s Series B financing and helped fund a tender offer that provided liquidity to Company employees. Together, the transactions extend Carrick’s partnership with a proven platform and align the firm with Saviynt’s management team and new Series B investors in delivering long-term value.
The closing comes amid accelerating momentum at Saviynt. The Company recently announced that it has surpassed $300 million in annual recurring revenue, up from approximately $10 million at the time of Carrick’s initial investment. This year, Saviynt has grown bookings by more than 80% while maintaining a 96% customer retention rate. Saviynt also launched Zuma, its enterprise AI identity security platform, which gives organizations a unified control plane to discover, protect, and govern AI agents, LLMs, and non-human identities alongside the human workforce. Zuma extends the Saviynt Identity Cloud, which converges identity governance and administration, privileged access management, application access governance, and identity security posture management to secure every identity across an organization’s applications, data, and infrastructure. This momentum, and customers’ urgent focus on unified identity security as they deploy AI at scale, drove the Company’s $700 million Series B at a valuation of approximately $3 billion.
Carrick identified Saviynt through the firm’s thematic sourcing work in cybersecurity, and built a relationship with the founding team before they raised institutional capital. As Saviynt’s only institutional investor until their Series B, Carrick led the Company’s $35 million Series A and supported Saviynt’s growth with follow-on financings while partnering closely with management on leadership expansion, go-to-market, and board development through the firm’s ABV (Approach to Building Value).
“Our limited partners entrust us to source exceptional companies before others see them, concentrate behind our highest-conviction ideas, and build durable value through operating performance rather than financial engineering,” said Marc McMorris, Co-CEO of Carrick. “This transaction delivered on that promise, providing our LPs a meaningful realization alongside the choice to stay invested in the Company’s next chapter. The caliber of investors who backed the vehicle speaks to the strength of both Saviynt and the Carrick model,” added Co-CEO Jim Madden.
“We underwrote a simple thesis years ago: identity would become the control plane of enterprise security. The AI era has proven it. Enterprises cannot deploy AI they cannot trust, which makes identity security the business enabler for AI adoption at scale,” said Chris Wenner, Managing Director at Carrick and Saviynt board member. “Saviynt built the unified platform to govern every identity, human, non-human, and AI agent, and we are tripling down because we believe it will be the leader in unified identity.”
“The defining security problem of the AI era is that enterprises are now accountable for AI agents and non-human identities that act at machine speed. The platform we have built solves this problem by providing visibility, protection, and governance,” said Sachin Nayyar, Founder and CEO of Saviynt. “Carrick has been our partner and shared our vision from our first institutional round when Saviynt was focused on cloud-native identity governance, through our evolution to address AI-era identity security. This capital commitment underscores their continuing conviction and strengthens our ability to move even faster for our customers.”
The new capital positions Saviynt to accelerate product development across the Identity Cloud and Zuma, extend its leadership in AI and agentic identity security, and deepen integrations with hyperscalers, SaaS platforms, and global systems integrators, while continuing to serve its blue-chip base of enterprise customers worldwide.
Robert W. Baird & Co. served as financial advisor to Carrick. Proskauer Rose LLP served as legal counsel to Carrick on the CV, and Latham & Watkins LLP served as legal counsel to Carrick on its new investment.
About Carrick Capital Partners
Headquartered in San Francisco and Newport Beach, 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. For more information, please visit www.carrickcapitalpartners.com.
About Saviynt
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. For more information, please visit www.saviynt.com.
About Coller Capital
Coller Capital is a global leader in the secondary market for private assets, renowned for being a pioneer and innovator in the asset class. Founded in 1990, Coller provides investment and liquidity solutions to private market investors worldwide, and currently manages $55* billion in private equity, private credit, and other private market vehicles. With headquarters in London and offices across North America, Europe, and Asia-Pacific, our multinational team offers a truly global reach.
Coller has exclusively focused on secondary investing since inception and today boasts one of the largest dedicated investment teams in the asset class.
Coller’s Private Wealth Secondaries Solutions (PWSS) business offers perpetual funds to eligible private wealth investors globally.
For more information, visit www.collercapital.com
*As at 31 March 2026
About HSBC Asset Management
HSBC Asset Management should be referred to either in full or as HSBC AM to avoid confusion with any other financial services firms.
HSBC Asset Management, the investment management business of the HSBC Group, invests on behalf of HSBC’s worldwide customer base of retail and private clients, intermediaries, corporates and institutions through both segregated accounts and pooled funds. HSBC Asset Management connects HSBC’s clients with investment opportunities around the world through an international network of offices in 20 countries and territories, delivering global capabilities with local market insight. As at 30 June 2026, HSBC Asset Management managed assets totalling US$928bn (excluding HSBC Jintrust Fund Management Company Limited) on behalf of its clients.
For more information see http://www.global.assetmanagement.hsbc.com
HSBC Asset Management is the brand name for the asset management businesses of HSBC Holdings plc.
Media Contact
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Disclosures: This press release is provided for informational purposes only and is not an offer to sell, or a solicitation of an offer to buy, securities or interests in any fund managed by Carrick Capital Partners. Past performance, including the gross multiple on invested capital referenced herein, is not indicative of future results. Gross performance figures do not reflect the deduction of management fees, carried interest, or other expenses, which would reduce returns to investors. The statements quoted above from persons who are not clients of Carrick were made without compensation and reflect solely their own opinions and experience with Carrick. Portfolio company executives may be subject to certain conflicts of interest. Carrick Capital Partners is an investment adviser registered with the U.S. Securities and Exchange Commission; registration does not imply a certain level of skill or training.
SOURCE Carrick Capital Partners
