The firms announced on Monday that Silver Lake will buy Intercontinental Exchange's interest in securities settlement platform Euroclear Holding for 709 million euros ($821.7 million).

Euroclear, a Brussels-based supplier of post-trade security settlement, custody, collateral management, fund management, and data services, is in charge of 35.2 trillion euros in assets.Silver Lake and Mubadala Partner to Establish Unique Long-term Investment  Strategy | Business Wire

ICE, the parent company of the New York Stock Exchange, owned 9.85% of Euroclear.

Silver Lake wants one of its representatives to join Euroclear's board of directors following the investment, which is scheduled to close in the first part of next year, according to the companies.