Blackstone Joins Francisco Partners in Backing Dynamo Software

Blackstone Inc. plans to join fellow private-equity firm Francisco Partners as an investor in a

Blackstone Inc. plans to join fellow private-equity firm Francisco Partners as an investor in a software business that serves the alternative investment management industry, including private-equity managers.

Dynamo Software Inc. provides cloud-based technology that helps investment firms manage their customer relationships, and the Watertown, Mass.-based company’s clients include venture-capital and private-equity firms, as well as hedge funds and real-estate investment firms. Dynamo also serves institutional investors, such as foundations and endowments and counts Francisco as one of its customers.