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 done manually.

Alternative asset managers have grappled with difficulties involving paperwork and settling transactions as they moved into the business of selling funds to wealthy individuals. A frequent problem is that documents required to invest in the funds, which often offer the ability to cash out on a monthly or quarterly basis, will be incomplete or inaccurate.

KKR was looking for ways to expand access to its offerings and make it more efficient for clients to invest, Doug Krupa, head of global wealth solutions in the Americas, said in an interview. The firm took a minority stake in Corastone and facilitated introductions to others in the financial industry looking to solve similar problems, including Morgan Stanley, he said.

“There’s still a lot of clunkiness and complexity in transactions for semi-liquid funds,” Krupa said. “This is an important tool that can help us reduce that hassle factor.”