Brisbane, Australia, February 24 , 2017 – eFront, the leading financial software and solutions provider for managing alternative investments, today announces that QIC Limited (QIC), a Brisbane-based global diversified alternative assets manager, has selected eFront’s flexible eFront Invest solution, Pevara and the eFront Investor Cloud (EIC) service to provide a front-to-back technology solution for managing and administering its private capital assets and to support its continued growth in alternative investments.
QIC was created by the Queensland government in 1991 and is one of Australia’s largest institutional fund managers with over $78 billion in funds under management for a range of public and private sector clients, including major superannuation funds, and has grown into a major global diversified alternatives business.
Deployed as a hosted managed service, the flexible front-to-back eFront Invest solution will initially support the asset management activities of Global Private Equity and Global Infrastructure and administration activities performed by the back and middle offices. Replacing a number of bespoke legacy systems and manual processes, eFront Invest will provide QIC with a more efficient consolidated platform that integrates with and leverages QIC’s existing data warehouse.
QIC will benefit from a scalable and global platform that will rapidly adapt to industry and regulatory change.
Claire Blake, Chief Financial Officer of QIC, said, “Operational excellence is key to the way QIC operates. We look forward to our partnership with eFront. Our aim via this relationship is to achieve ever greater efficiency in our operations and to continue delivering good long-term investment outcomes for our clients. Implementing eFront Invest is an essential investment in QIC’s growth and improved client outcomes.”
Commenting on the agreement, Tarek Chouman, Chief Sales & Marketing Officer of eFront, said, “We are delighted to welcome a client of QIC’s calibre and importance in the alternative investments market into the eFront community. This is an important client for us, reinforcing eFront’s global dominance in the field of seamless, holistic and cutting-edge alternative asset solutions. ”