EFront, the leading software solutions provider for alternative assets, is pleased to announce that FrontInvest Alternatives, its flagship solution for limited and general partners, offers standardized reporting templates from the ILPA (International Limited Partners Association).
ILPA is a not-for-profit association and represents the interests of institutional private equity investors.
Over the last year, the ILPA has been working to develop, in conjunction with LPs and GPs, a set of standardized Reporting templates to not only improve transparency between the general partner and limited partner communities but to generate industry efficiencies. The Standards will allow for consistency of reporting, uniformity of information, reduction in time required to reconcile reports and less time responding to questions from investors on various items. The Capital Call & Distribution Notice Templates were released in January 2011 and the new Quarterly Reporting Standards were released on October 18, 2011.
Included in FrontInvest Alternatives' latest release are the Quarterly Reporting & Capital Call and Distribution Templates, including cash-flow notices, which will enhance back-office functionality, increase transparency, ease the limited partners' analysis and reduce processing time. The objective is to improve communications regarding an investment status and enable general partners' compliance with legal terms in documentation. FrontInvest provides an automated reporting solution to produce the Capital Call and Distribution Notice including waterfall distribution details, cash-flow balances both prior and after the call and management fee details.
eFront enables LPs and GPs to communicate through a dedicated, branded, simple and secure Investor Portal. This single Web portal centralizes all documents and reports and allows quarterly reporting and capital call and distribution templates to be sent via email or through the portal. eFront clients can customize templates and decide what data they want to show, to whom and how, with the ability to drill down into reports. The benefits are numerous: a streamlined process between LPs and GPs, direct transfer of documents from FrontInvest, secure communication and a single Portal for all ILPA-compliant reports.
"We applaud eFront's proactive efforts to develop simple technology solutions to help GP's and LPs meet their reporting requirements," said Kathy Jeramaz-Larson, Executive Director of ILPA. "Tools that help create efficiencies in reporting practices are a welcome innovation."
Olivier Dellenbach, founder and CEO at eFront, comments: "Endorsement of the ILPA Principles is an indication of the industry's effort to strengthen the basic "alignment of interests" value proposition. eFront has always valued this LP-GP interest alignment proposition and supports ILPA's efforts to ensure better fund governance and appropriate transparency. We believe ILPA's best practices will lead to meaningful communication improvements."