Estera selects eFront for global private equity fund administration platform
Estera, a provider of funds, corporate and trusts services, has selected eFront as its partner for its multi-million pound investment in a fund administration platform to support the ongoing growth of its global private equity fund administration business, which now represents about a third of global revenues.
Estera has a market-leading European funds capability, offering administration and fiduciary services both onshore and offshore. The consolidation of its current administration platforms into eFront, the world’s leading alternative investment management software and solutions provider, is the next step in Estera’s rapid expansion into the European funds market, which is anchored by a large and growing stable of top-tier private equity fund clients.
Implementation of the eFront platform will underpin and strengthen Estera’s core private equity, real estate and debt funds services. eFront will allow Estera to seamlessly manage the full range of fund activities from investor corporate actions to portfolio administration, bespoke reporting and more.
Estera’s client base of blue chip private equity managers will benefit from more effective fund management and administration plus improved efficiencies in structure, reporting and regulatory oversight.
Farah Ballands (pictured), Estera Group Chief Executive Officer, says: “This significant expenditure on eFront’s investment management software cements Estera’s position as a leading provider of PE fund administration services in Europe. Our funds experts in Luxembourg and the Channel Islands deliver the jurisdictional and expertise profile that fund managers require, which will now be underpinned by best-in-class technical capabilities.”
Ethan Levner, Group Head of Corporate Development and Managing Director, Estera Guernsey, adds: “Consolidating our current platforms into eFront will further enhance our offering to support our clients’ ongoing growth and allow Estera to offer full-service, jurisdiction-agnostic fund administration.”
Tarek Chouman, Chief Executive Officer at eFront, said: “We are delighted that Estera has selected eFront to power its private equity-related fiduciary and administration services. We look forward to supporting Estera’s 550+ professionals with our world-leading solutions, which will enable them to meet and exceed client reporting and administration expectations.”