Carlyle Group Acquires Calastone

Calastone, the largest global funds network, is pleased to announce that global investment firm The Carlyle Group has reached an agreement to acquire a majority stake in the business from their current shareholders, including Octopus Ventures and Accel. Calastone management retains a minority stake. The transaction is subject to regulatory approval. Financial terms of the transaction are not disclosed.

Commenting on the acquisition, Calastone’s Chief Executive Officer Julien Hammerson, said: “We have made great strides in the past decade to meet the needs of our customers and their investors in reducing friction and costs within the mutual fund industry. Our business has grown from strength to strength and has created the Distributed Market Infrastructure (DMI), a hugely innovative and market leading DLT based platform to drive yet more efficiency. At the same time, we have continued to expand internationally and created new opportunities in Money Market funds. 

“We are delighted to have the full support of The Carlyle Group to capitalize on this opportunity and take the company forward into the next phase of its development and growth.

Fernando Chueca, a Managing Director in The Carlyle Group’s advisory team, said: “Calastone is a global leader and innovator in the funds technology industry, a large and growing market. Since its inception, the company has achieved remarkable growth through replacing legacy and complex workflows with truly innovative solutions for its clients. We are delighted to partner with Julien 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.”