Technology

SS&C’s acquisition of Calastone signals major push towards integrated global fund technology

Thursday, 16 October 2025 4:06AM UTC

SS&C Technologies' £766 million purchase of Calastone expands its wealth and asset management capabilities, while innovative UK start-up Clove raises €12 million to disrupt financial advice amid shifting US sector funding trends signals evolving global wealthtech landscape.

SS&C Technologies has finalised its acquisition of Calastone, the largest global funds network, in a transaction valued at approximately £766 million ($1.03 billion). The deal, initially announced in July and funded with a combination of debt and cash, marks a significant expansion for SS&C’s capabilities in wealth and asset management technology. Calastone, headquartered in London and serving over 4,500 financial organisations across 57 markets, processes more than £250 billion ($334 billion) of investment value each month. Its 250 employees have now joined SS&C Global Investor & Distribution Solutions, strengthening the company’s footprint worldwide.

According to Bill Stone, Chairman and CEO of SS&C Technologies, Calastone’s technology and network enhance SS&C’s leadership in global fund operations. The acquisition is expected to accelerate innovation, expand service reach, and simplify industry operations. The combined entity plans to launch a unified, real-time operating platform aimed at lowering costs and operational risks while enhancing distribution, investor services, and scalability in fund administration. Founded in 1986 and based in Windsor, Connecticut, SS&C is a Fortune 1000 publicly traded company and the largest independent administrator for hedge funds, private equity, and mutual fund transfer agencies globally.

Calastone’s CEO, Julien Hammerson, expressed optimism about the merger, highlighting the benefits for clients and employees who will now gain access to greater scale, enhanced investment, and broader opportunities through SS&C. Calastone's network, with a presence in Luxembourg, Hong Kong, Taipei, Singapore, New York, and Sydney, provides mission-critical infrastructure that connects investment firms and assets globally. The acquisition is anticipated to further support growth and innovation in fund distribution and asset servicing.

Concurrently, the UK wealthtech sector witnessed the emergence of Clove, a London-based start-up that has raised €12 million ($14 million) in pre-seed funding, one of the largest early-stage rounds for a European fintech startup this year. Led by Accel, with participation from Kindred Capital, Air Street Capital, and angel investors, Clove aims to disrupt traditional financial advice. Co-founder Alex Loizou emphasised their mission to combine human financial adviser expertise with AI to make financial planning more affordable and accessible. The timing aligns with findings from the UK Financial Conduct Authority, which suggested professional financial advice can improve financial outcomes by up to 10%.

Loizou and co-founder Christian Owens noted that a significant portion of financial advisers’ work involves administrative tasks rather than advisory functions. Clove’s use of AI is intended to reduce this workload, allowing advisers to focus on delivering higher-quality, personalised advice. The company plans to use the fresh capital to expand its team ahead of a full launch in 2026, pending FCA authorisation.

Meanwhile, wealthtech investment trends in the United States reveal a contrasting picture for the third quarter of 2025. FinTech Global Research reports a notable decline in total funding to $861 million from $1.8 billion the previous year, despite an increase in deal volume from 62 to 71 deals. The average deal size dropped from $28.8 million to $12.1 million, reflecting investor caution amid ongoing macroeconomic uncertainties and shifts in wealth management technologies. However, CB Insights offers a more optimistic outlook over the longer term, noting that wealthtech funding overall is maintaining momentum and is on course to double the totals of 2024. Strong confidence in digital-first wealth management solutions and increased hiring underscore robust sector growth, with particular interest in financial advisor productivity tools, wealth management banking and lending platforms, and AI-driven investment intelligence.

Together, these developments highlight a dynamic period for wealthtech globally: from strategic acquisitions aiming to integrate technology and scale, to innovative start-ups leveraging AI to reshape financial advice, set against a backdrop of evolving investment patterns signalling both caution and enduring confidence in the sector’s future.

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Source: Noah Wire Services

More on this

https://finovate.com/wealthtech-at-work-ssc-acquires-calastone-clover-emerges-from-stealth-and-more/ - Please view link - unable to able to access data
https://www.calastone.com/news/ssc-technologies-completes-acquisition-of-calastone/ - SS&C Technologies Holdings, Inc. has completed its acquisition of Calastone, the largest global funds network, from Carlyle for approximately £766 million (US $1.03 billion). The transaction was funded through a combination of debt and cash. Calastone's team of 250 employees will join SS&C Global Investor & Distribution Solutions, reporting to General Manager Nick Wright. Calastone operates offices in London, Luxembourg, Hong Kong, Taipei, Singapore, New York, and Sydney, serving over 4,500 clients across 58 countries and territories, processing more than £250 billion of investment value each month.
https://investor.ssctech.com/news-and-events/news-details/2025/SSC-Technologies-Completes-Acquisition-of-Calastone/default.aspx - SS&C Technologies Holdings, Inc. has completed its acquisition of Calastone from Carlyle for approximately £766 million (US $1.03 billion). The purchase was funded with a combination of debt and cash. Calastone's 250 employees will join SS&C Global Investor & Distribution Solutions, reporting to General Manager Nick Wright. Calastone has offices in London, Luxembourg, Hong Kong, Taipei, Singapore, New York, and Sydney, serving over 4,500 clients across 58 countries and territories, processing more than £250 billion of investment value each month.
https://www.calastone.com/news/calastone-to-join-ssc-technologies/ - Calastone, the largest global funds network and technology solutions provider to the wealth and asset management industry, has entered into a definitive agreement to be acquired by SS&C Technologies Holdings, Inc. The acquisition is valued at approximately £766 million (US $1.03 billion) and is expected to close in Q4 2025, subject to regulatory approvals. Upon completion, Calastone will operate as part of SS&C’s Global Investor & Distribution Solutions division, enabling the combined group to further scale innovation, service delivery, and operational efficiency across the global wealth and asset management ecosystem.
https://www.carlyle.com/media-room/news-release-archive/carlyle-agrees-sell-calastone-ssc-technologies - Global investment firm Carlyle has agreed to sell Calastone, the largest global funds network and a leading provider of technology solutions to the wealth and asset management industry, to SS&C Technologies Holdings, Inc. The transaction is valued at approximately £766 million (US $1.03 billion) and is expected to close in Q4 2025, subject to regulatory approvals. Calastone connects over 4,500 clients in 57 countries and territories, enabling greater market efficiency, automation, and risk reduction for the investment industry.
https://www.reuters.com/business/ssc-buy-carlyles-british-fund-network-calastone-about-1-billion-2025-07-21/ - SS&C Technologies, a financial software provider based in Windsor, Connecticut, announced on July 21, 2025, that it will acquire Carlyle's British fund network and data business Calastone for approximately £766 million ($1.03 billion). The acquisition will be funded through a combination of debt and existing cash. Calastone, based in London, operates a blockchain-enabled platform for trading and settling investment funds. The company serves around 4,500 fund distribution and fund manager clients across 57 countries and handles over £250 billion in investment value monthly.
https://www.reuters.com/business/finance/carlyle-lines-up-bankers-possible-sale-british-fund-network-calastone-sources-2025-01-16/ - Carlyle has lined up bankers to explore a sale of its British funds network and data business Calastone, which would be the latest deal in a sector that has attracted billions of pounds from investors. The U.S. buyout group is working with Barclays to explore a sale of the London-headquartered business ... . It also provides data on ... . Calastone's customers span ... £270 billion of investment value each month.

Noah Fact Check Pro

The draft above was created using the information available at the time the story first emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed below. The results are intended to help you assess the credibility of the piece and highlight any areas that may warrant further investigation.

Freshness check

Score: 10

Notes: The narrative reports on SS&C Technologies completing its acquisition of Calastone, a transaction valued at approximately £766 million ($1.03 billion). This acquisition was announced on July 21, 2025, and completed on October 14, 2025. The report also mentions Clove, a London-based wealthtech startup that has raised €12 million ($14 million) in pre-seed funding. This funding round was led by Accel and announced on October 15, 2025. Both events are recent and have not been previously reported, indicating high freshness. The narrative includes direct links to official press releases and reputable news outlets, confirming the originality of the content. There are no indications of recycled news or clickbait tactics. The inclusion of updated data and recent events further supports the high freshness score.

Quotes check

Score: 10

Notes: The narrative includes direct quotes from Bill Stone, Chairman and CEO of SS&C Technologies, and Julien Hammerson, CEO of Calastone. These quotes are consistent with those found in the official press releases from SS&C Technologies and Calastone, confirming their authenticity. There are no discrepancies or variations in the wording of the quotes, indicating they are accurately reported.

Source reliability

Score: 10

Notes: The narrative originates from Finovate, a reputable source known for its coverage of fintech and wealthtech developments. The information is corroborated by official press releases from SS&C Technologies and Calastone, as well as coverage by established news outlets like Reuters. The entities mentioned, including SS&C Technologies, Calastone, and Clove, have verifiable public presences and legitimate websites, confirming their authenticity.

Plausability check

Score: 10

Notes: The claims made in the narrative are consistent with recent developments in the wealthtech sector. The acquisition of Calastone by SS&C Technologies and the emergence of Clove as a new player in the market are plausible and align with current industry trends. The narrative provides specific details, such as the acquisition value, funding amounts, and the involvement of notable investors, which are verifiable and accurate. The language and tone are appropriate for the subject matter and region, with no inconsistencies or suspicious elements.

Overall assessment

Verdict (FAIL, OPEN, PASS): PASS

Confidence (LOW, MEDIUM, HIGH): HIGH

Summary: The narrative provides accurate, original, and timely information about recent developments in the wealthtech sector, including the acquisition of Calastone by SS&C Technologies and the emergence of Clove as a new startup. The content is corroborated by official press releases and reputable news outlets, with no indications of disinformation or recycled content. The quotes are authentic and consistent, and the sources are reliable and verifiable. The claims made are plausible and supported by specific, verifiable details. Overall, the narrative passes all fact-checking criteria with high confidence.

Wealthtech
Acquisition
Financial technology