Investing.com — Carlyle, the U.S. buyout group, is reportedly preparing to explore a sale of its British funds network and data business, Calastone, according to sources familiar with the matter. The London-based business, which serves as a marketplace for trading and settling investment funds, is underpinned by blockchain technology and also provides data on fund flows.
The sale process is still in its early stages, but Carlyle is expected to initiate an auction before the summer, two of these sources stated. The potential sale could bring in over 20 times Calastone’s earnings before interest, tax, depreciation and amortisation, which could equate to around £600 million ($731.52 million). This estimate is based on the valuation of similar deals in the broader financial technology and data sector, one of the sources added.
However, the same sources emphasized that a deal is not guaranteed and requested anonymity due to the confidential nature of the matter. The buyout group is working with Barclays (LON:BARC) to explore the potential sale. The move would be the latest in a sector that has seen billions of pounds invested by investors.
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