The deal, led by Coller Capital and co-led by HSBC Asset Management, provides existing Carrick limited partners with the option to either exit their positions—realizing a 11x gross multiple—or roll their equity into the new vehicle. This financial maneuver arrives as Saviynt reports rapid growth, with annual recurring revenue climbing from $10 million at the time of Carrick’s initial investment to over $300 million today. The company recently achieved a $3 billion valuation following a $700 million Series B round.

Saviynt’s expansion is anchored by the launch of Zuma, an AI identity security platform designed to govern AI agents and non-human identities. According to Carrick Managing Director Chris Wenner, the firm is tripling down on its position because identity has become the essential control plane for enterprise AI adoption. Saviynt CEO Sachin Nayyar noted that the fresh capital will accelerate product development within the Identity Cloud, specifically targeting the security risks associated with machine-speed AI agents. Carrick remains Saviynt's long-term partner, having backed the company since its Series A round.