EFront, the leading software provider of financial solutions for managing alternative investments, is pleased to announce that Norfund, a Norwegian Investment Fund that provides financing to firms in developing countries, has chosen FrontInvest to manage its investment portfolio.
FrontInvest will provide scalable, multicurrency support with the ability to centralize information of Norfund's capital transactions and manage its high volume of equity, mezzanine and debt transactions.
Following a detailed selection process, Norfund selected eFront for its ability to handle all of Norfund's investment instruments (including interest and cost calculations for debt instruments) and for the range of functionality offered across the front, middle and back office, including investment project monitoring, portfolio management, and consolidated reporting.
Elin Ersdal, Norfund, says: "Our aim in choosing a portfolio management system was clear from the start: we wanted a tool that could deal with the complexity of our various investment instruments as well as standard deal flow requirements. It was vital for us to acquire a software system that supported the growth of our business and would be able to scale for even greater volumes in the future. FrontInvest provides a tailored portfolio management system and in-depth reporting capabilities allowing us to focus on our core activity: investment."
Alexis Calmon, Account Executive, eFront, adds: "Norfund's choice of FrontInvest demonstrates eFront's ability to meet the needs of emerging market investors. Our solution will cost-effectively streamline the invoicing, calculation and scenario management processes. The flexibility FrontInvest provides will support Norfund in managing even the most complex instruments."