Estera has selected eFront as its partner for its multi-million pound investment in a fund administration platform to support the growth of its global private equity fund administration business.
The firm says that now represents about a third of global revenues.
The consolidation of Estera's current administration platforms into eFront, an alternative investment management software and solutions provider, is said to be the next step in its rapid expansion into the European funds market, which is anchored by a large and growing stable of top-tier private equity fund clients.
Farah Ballands, Estera Group Chief Executive Officer said, “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, added; “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.”
Pictured l-r: Tarek Chouman, Ethan Levner.
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