The Carlyle Group has reached an agreement with Calastone to acquire a majority stake in the business from its current shareholders, including Octopus Ventures and Accel.
As part of the deal, funds affiliated with The Carlyle Group will support Calastone in accelerating its growth, including broadening its product suite as well as the applications of its technology, and international expansion.
Calastone, which was founded in 2007, brings together the entire fund trading process, offering automated order routing, settlement, dividend and transfer services to asset and fund managers.
In May last year, it launched its distributed market infrastructure, enabling the full automation and digitalisation of the fund transaction process via distributed ledger technology.
Calastone’s CEO Julien Hammerson said: “Everyone at Calastone has much to be proud of and there is huge potential for growth based on the technology platform and unique service offering we have created. We are delighted to have the full support of The Carlyle Group to capitalise on this opportunity and take the company forward into the next phase of its development and growth.”
“I would also like to thank Octopus Ventures and Accel as well as our non-executive directors Chris Wade and chairman Cristóbal Conde, who have all contributed greatly to our success.”
Fernando Chueca, a managing director in The Carlyle Group’s advisory team, added: “We are delighted to partner with Julien Hammerson and the management team and look forward to leveraging our global platform, network of relationships, and deep expertise in financial services and technology to support Calastone in its next phase of growth.”
The transaction is subject to regulatory approval and financial terms of the deal are not disclosed.
