US buyout group Carlyle is just days away from selling British funds network and data business Calastone. 

A deal is expected to be announced next week, according to a well-placed source.

Investment bankers at Barclays have been handling the deal in New York – where it is thought the business could fetch a better price than in London. 

It has previously been reported that Calastone could be valued at £600million.

Based in London, the firm began operating in 2008 and has offices worldwide, serving 4,500 clients in 57 countries. 

It uses technology to automate manual tasks including order routing, settlement and transaction reporting for asset and fund managers. 

The firm also provides data on fund flows.

Revenues for 2024 climbed 19 per cent to £81million and underlying earnings climbed 55 per cent to £26million, according to latest results. The firm employed 223 staff by the end of the year.

The sale of a UK-based group in New York could add to further dismay about the standing of London’s capital markets amid an exodus of firms across the pond, through takeovers or a change of listing venue. 

Carlyle and Barclays declined to comment.