StepStone becomes the first UMB client to connect to Corastone's network, streamlining subscription and lifecycle operations, with recordkeeping support from Envision.
NEW YORK, June 25, 2026 /PRNewswire/ -- Corastone, the hyperscaler for private-market investing, today announced a partnership with UMB Fund Services, Inc. (UMBFS), a subsidiary of UMB Financial Corporation (NASDAQ: UMBF), a national leader in registered and alternative investment fund administration services, to connect UMBFS to Corastone's private, permissioned distributed ledger technology (DLT) network. The collaboration between Corastone, UMBFS, and Envision replaces manual, document-based workflows and one-off integrations with a shared data standard that supports straight-through processing for all market participants involved in a given transaction. Corastone will act as the underlying transaction infrastructure, enabling market participants to connect and exchange data while preserving their existing client relationships and service models.
UMBFS will act as a transfer agent and fund administrator on the platform, enabling straight-through processing of alternative investment transactions across the entire fund servicing lifecycle. UMBFS's transfer agency operations are supported by Envision Financial Systems' investor recordkeeping platform, which helps drive automation and operational efficiency across servicing workflows. StepStone Group (Nasdaq: STEP), a leading global private markets investment firm, is the first UMBFS client to connect to the Corastone network — using Corastone's shared distributed ledger technology to streamline subscriptions, reduce manual reconciliation, and improve data accuracy across all parties to a transaction.
After initially connecting to Corastone's network, UMBFS and any of their clients connected to Corastone can exchange standardized investor and transaction data in real time. This eliminates rekeying and minimizes reconciliation breaks, creating a uniform, trusted source of fund information for every participant in the workflow.
"UMB Fund Services is committed to investing in technology that helps our clients operate more efficiently as the alternative investment market continues to grow," said UMB Fund Services Director of Transfer Agency Operations Brittany Haiser. "By connecting to Corastone's permissioned DLT network, we are giving clients like StepStone a more standardized, transparent and scalable way to manage subscription and fund servicing workflows. We are excited to partner with Corastone to bring greater automation, accuracy and operational efficiency to an increasingly complex segment of the market."