The Carlyle Group has agreed to buy a majority stake in Calastone, a London-based company that uses blockchain technology to automate and digitize the mutual fund industry. Calastone applies distributed ledger technology to manage and automate various fund transactions including order routing, settlement, dividend and transfer services for fund managers.
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Carlyle makes a blockchain bet with Calastone deal
CEO of Calastone 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. "We have continued to expand internationally and created new opportunities in money market funds. "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."
