Investment funds processing network Calastone has been bought by US-based funds servicing firm and software vendor SS&C Technologies in a deal worth £776m ($1.03bn).
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With more than 4,500 financial organisations as clients, Calastone, founded in 2007, considers itself to be the lagest network for investment funds. SS&C provides fund administraiton services to asset managers.
According to the announcement, the two companies plan to build a “unified, real-time platform aimed at reducing cost and complexity across fund operations”.
The sale comes five years after Calastone welcomed private equity firm Carlyle Group as a majority shareholder, a deal that funded Calastone’s expansion efforts and moves into other areas such as ETF processing and tokenisation.
“SS&C’s global scale and deep expertise across fund services and technology will enable us to accelerate innovation and deliver new digital capabilities to the market,” said Calastone CEO Julian Hammerson.
“We look forward to working together to deliver transformational services to asset and wealth managers and drive growth. I am immensely grateful to the entire Calastone team for their dedication and to our clients for their continued trust.”
“Calastone has built an impressive network and platform, and together we will create a more connected, automated and intelligent global fund ecosystem,” added SS&C chairman and CEO Bill Stone. “This combination reinforces our commitment to delivering innovative, scalable solutions to reduce complexity and enhance outcomes for the asset and wealth management industry.”
The deal is expected to close in Q4 2025.
Barclays acted as Calastone’s financial advisor for the transaction, while legal counsel was provided by Linklaters and Mishcon De Reya.
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