Goldman Leads $3.5 Billion Private Loan for Clearwater Purchase

A group of private credit firms led by Goldman Sachs Alternatives is providing $3.5 billion to support the buyout of Clearwater Analytics Holdings Inc., the latest instance of direct lenders funding software acquisitions.

Ares Management Corp., Blue Owl Capital Inc., Antares Capital and Apollo Global Management Inc. are joining the lender group, according to people with knowledge of the matter. The debt is being offered at a 4.5-percentage-point premium to the US benchmark, said the people, who asked not to be identified discussing a private transaction.