Mishcon de Reya advises management team of Calastone on acquisition

This article was originally uploaded on 22 July and was updated on 21 October.

Mishcon de Reya has advised the management team at Calastone on the successful completion of its acquisition by SS&C Technologies Holdings, Inc. (“SS&C” or Group: Nasdaq: SSNC), a global leader in investment and financial services software and solutions. The transaction, valued at approximately £766 million (approximately US $1.03 billion), was completed following SS&C's acquisition of Calastone from global investment firm Carlyle. 

Calastone, the largest global funds network and technology solutions provider to the wealth and asset management industry and founded in 2007, connects over 4,500 financial organisations across 57 markets. The company mission is to reduce complexity, risk and costs, enabling the industry to deliver greater value to investors. 

SS&C, founded in 1986 and headquartered in Windsor, Connecticut, is a global provider of services and software for the financial services and healthcare industries. More than 22,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology. 

Calastone's technology solutions will strengthen SS&C's capabilities across fund administration, transfer agency and advanced automation. Together, the teams will provide an integrated, real-time platform designed to improve distribution, investor services and operational efficiency for those in the fund industry worldwide.

The Mishcon de Reya team was led by Kevin McCarthy (Partner and Chair of Corporate), with support from Liam Closey  (Managing Associate), Danny Whittaker (Associate) and Meehir Patel (Associate). Stephen Elhabbal (Managing Associate) advised on Tax.

Kevin McCarthy commented: "It was a pleasure to act for the Calastone management team on this deal. Our private equity group stands at the forefront of the management advisory sector and we were able to call upon our extensive experience in this field to the benefit of our clients". 

Julien Hammerson, CEO, Calastone commented: "This was a complex and important transaction for Calastone, and we were grateful to have Mishcon de Reya by our side. Their experience advising management teams in strategic deals like this was clear from day one and their guidance, expertise and calm approach throughout the process were invaluable.” 