Morgan Stanley Adds KKR-Backed Wealth Tech to Speed Up Trades

Morgan Stanley is adopting technology backed by KKR & Co. that will help the bank facilitate transactions from alternative asset managers looking to expand their access to high-net-worth individuals.

The Wall Street firm’s wealth platform added Corastone, software that provides the infrastructure to process fund transactions, according to a statement seen by Bloomberg. KKR, Apollo Global Management Inc. and Franklin Resources Inc., known as Franklin Templeton, are among those that agreed to have investment products distributed using the system.

Corastone uses blockchain technology to speed up administrative processing to bring new investors into fund products, something that was previously ...