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.