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Press Releases |
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03/31/08 : eFront opens new office in Dubai... Read |
eFront opens new office in Dubai
eFront has opened a new office in Dubai, United Arab Emirates.
The new office will focus on Private Equity and Real Estate investment sectors in the Middle East and in Asia.
In particular, the Dubai office will provide implementation services and local support to eFront customers in the region, such as Istithmar World, one of the largest alternative asset investors in the Middle East.
The Dubai office provides eFront with privileged access to one of the most dynamic financial communities in the world. Private Equity and Real Estate investments have been growing at a tremendous pace over the past few years, and bring large market opportunities for FrontInvest, eFront’s flagship software suite for Alternative Asset managers. For example, over 60 Private Equity firms are based in Dubai, with assets under management doubling every year and now reaching over $21 billion.
The new office expands eFront’s international footprint and consolidates its global leadership in the field of software solutions for Alternative Asset Managers, in particular Private Equity and Real Estate investors.
Mr. Tarek Chouman, formerly eFront’s Deputy General Manager, will lead the new entity.
Contact:
Tarek Chouman
Phone: +971 50 379 3454
info-ME@efront.com
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| 09/04/07 : Istithmar chooses eFront business solution...Read |
Istithmar chooses eFront business solution
Istithmar chooses FrontVenture and brings to eFront a prestigious reference among Middle-East Private Equity and Real Estate investment firms.
Headquartered in Dubai, Istithmar invests in Private Equity and Real Estate, focusing mainly on four verticals: consumer, industrial, financial services, and real estate. Istithmar has invested in over 80 companies in North America, Europe, Asia, and Middle-East. Istithmar's Investment Philosophy is based around three core principles -- Ideas, Inquiry and Integrity -- and is the foundation on which the firm has established a broad portfolio of highly successful investments in the markets from North America and Europe to Asia and the Middle East.
Faced with fast growth and highly diversified activities, Istithmar needed a solution covering both private equity and real estate operations. Functionality-wise, the software solution was required to integrate all of the company processes within a single information system: deal flow tracking, fund administration, investor management, integrated general ledger, reporting. Istithmar chose to implement FrontVenture to provide a single, global solution.
On top of its international reach Istithmar provides eFront with a great reference within Middle-East private equity, and demonstrates the relevancy of eFront's recent investments in the region, where the private equity sector is growing quickly.
Istithmar's significant activity in real estate demonstrates FrontVenture's effectiveness for the business needs of professionals operating in this branch of alternative assets. Real estate investment is perceived by eFront as a significant development lever in the years to come.
Mr. Khaled Al Kamda, Vice Chairman of Istithmar: «Istithmar aims to be a world leader in everything we do. That means looking for the best in every area of our operations - including our management and IT systems. eFront has proven to be world class partner who is delivering great benefits to the planning and management of our business.»
Olivier Dellenbach, eFront CEO: «This new collaboration is of key importance for eFront. First of all, Istithmar's investment reach and diversity provide a prestigious backing of FrontVenture in terms of modularity and functional spread, noticeably in the fields of Real Estate assets management. This deal also strongly supports our efforts to develop our activities in the Middle-East.»
About Istithmar PE
Istithmar PE is a private equity and alternative investment house headquartered in Dubai, the United Arab Emirates, with offices in Shanghai and New York. Establishe in 2003, it is 100% owned by Dubai World which in turn is wholly owned by the Government of Dubai. In the three years since its inception, Istithmar has invested in over 30 companies in three sectors -- consumer, industrial and financial services --- deploying in excess of $1.6 billion of capital. Istithmar's 'I' Investment Philosophy is based around three core principles -- Ideas, Inquiry and Integrity -- and is the foundation on which the firm has established a broad portfolio of highly successful investments in the markets from North America and Europe to Asia and the Middle East.
www.istithmar.ae
About Istithmar RE
Istithmar RE is 100 per cent owned by Dubai World, which is in turn wholly owned by the Government of Dubai. It has an investment portfolio which includes more than 50 successful companies. The real estate business aims to acquire and manage a distinguished and diversified portfolio of properties in commercial property, hotels and resorts, the leisure sector and in retail. Existing investments include Kerzner Group, International Hotel Investments, Mandarin Oriental in New York, The QE2, The Adelphi in London, Jumeirah Golf Estates and Cape Town's Pearl Valley Signature Golf Estate and Spa, and the V&A Waterfront.
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| 08/28/07 : KBC will use FrontVenture solution to manage its PE business...Read |
KBC will use FrontVenture solution to manage its PE business
KBC Private Equity has signed with eFront. FrontVenture solution will be used to manage its Private Equity business.
KBC Private Equity is a captive company of KBC Bank. Their activity includes LBO's (management-buy-outs) and growth financing for non-quoted companies. KBC Private Equity's direct investments range from 2 million to 50 million euros, in minority or majority stakes. To ensure the quality and follow up of their investments, they chose to use a professional software solution.
eFront's software solution FrontVenture is specifically designed for Private Equity business.Leading supplier of Private Equity software solutions, FrontVenture has a proven record track of 100 customers in 20 countries.
During the past months, KBC and eFront worked together at the discovery phase: FrontVenture addresses every aspect of the business KBC Private Equity deals with: Deal Flow tracking, Portfolio monitoring, Fund and Investor management solution for VCs and Private Equity Direct Investments, etc. FrontVenture was chosen purposefully by KBC to support the company's growth.
FrontVenture is a highly customizable solution that can adapt precisely to KBC Private Equity's specific needs. The fast and easy implementation of eFront's solution into KBC Private Equity's existing structure was a major reason that led KBC to choose FrontVenture as their software solution. The Web solution provided by eFront allows modular implementation of tools with minimal disruption of daily work flow or business plans.
Hugo Wellens, KBC PE controller, explains: "I am sure that our teams will implement the new platform successfully and that we will cooperate with eFront in the same flexible and pleasant way as during the discovery phase".
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eFront is now listed on Alternext stock exchange in Paris.
You can access our Investors website in French.
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