South African fund administrator IDS Fund Services has selected the eFront solution for its private equity and real estate fund administration operations.
IDS is an independent fund administrator based in Cape Town, with operations in Malta and representation in Mauritius. Established in 2002, IDS employs more than 110 staff and has more than USD8bn worth of assets under administration.
With a growing private equity market in Africa and the increasing complexity of the alternative asset market, IDS sought a technology solution that would enhance its private equity operation and service offering for local and international clients. eFront was able to provide a flexible solution to support IDS requirements and evolve with the market demands.
“The success of IDS is built on our ability to build and develop close clients’ relationships, adapt and evolve with customers’ needs and our innate understanding of business culture in Africa. Our commitment for high-quality client service prompted us to search for an innovative technology solution that meets the increasingly complex fund management and reporting requirements in the private equity administration space. We believe that eFront has the most advanced and recognized system solution which will support our commitment to high quality services and will assist us to further expand into the private equity market,” says Tony Christien, deputy CEO at IDS.
“We couldn’t be more pleased with the launch of our solution at IDS,” says Beatrice Vachonfrance, head of business development at eFront. “This further demonstrates our commitment to African investment firms, as well as our leadership position on that continent.”