S&P Global (SPGI) and CME Group (CME) said Monday they have agreed to sell post-trade services provider OSTTRA to investment funds managed by KKR (KKR) in a deal giving OSTTRA an enterprise value of $3.1 billion.

OSTTRA is a joint venture between S&P Global and CME that was established in 2021.

KKR, which is investing in OSTTRA mainly through its North American private equity strategy, will support the business in creating a program to provide its employees the opportunity to participate in the benefits of ownership.

S&P Global and CME said the deal is expected to close in the H2, subject to regulatory approvals and other conditions.

S&P Global shares were up 1.2% in recent premarket activity, while CME rose 0.4%. KKR was up 1.3%.