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Carlyle group to buy majority stake in funds network Calastone

FILE PHOTO: The logo of The Carlyle Group is displayed at the company's office in Tokyo
FILE PHOTO: The logo of The Carlyle Group is displayed at the company's office in Tokyo

LONDON (Reuters) - The Carlyle Group said on Monday it had agreed to buy a majority stake in funds network Calastone from its current owners including venture capital investor Octopus Ventures and Accel for an undisclosed sum.

Carlyle said the deal, for an unspecified stake in the company, remained subject to regulatory approval.

In a separate statement, Octopus said its investment in Calastone, which provides automated order routing, settlement, dividend and transfer services to asset and fund managers, had returned nine times its total investment.

(Reporting by Simon Jessop; Editing by Rachel Armstrong)