South Africa's IDS Fund Services chooses eFront to improve private equity operations

February 11
10:17 AM 2014

Cape Town, South Africa-based IDS Fund Services has chosen the technology solutions of eFront to enhance the operations for its private equity and real estate fund, a statement about the transaction said. 

A specialized fund administration service provider, IDS was established in 2002 and has grown to be a leading alternative investment fund administrator in South Africa. With a 110-strong workforce, it also operates in Malta and is represented in Mauritius as well. It has over $8 billion worth of assets under administration.

IDS looked for an innovative and reliable technology solution to improve the private equity operation and service offering it provides to its clients as the private equity market grows in Africa and the alternative asset market also becomes more complex. eFront was able to give a flexible solution to meet the requirements of South African fund administrator and grow with the demands of the market, the statement said.

A software provider focused on the financial services industry, eFront provides end-to-end solutions to over 700 clients in 40 countries. Its expertise in the enterprise risk management, alternative investments and customer relationship management is well-known among the private equity, real estate investment, banking and insurance sectors. It offers products that feature tightly integrated solutions that streamline the management of alternative investments and corporate risk.

IDS Deputy Chief Executive Officer Tony Christien explained about the company's choice of eFront, "The success of IDS is built on our ability to build and develop close clients' relationships, adapt and evolve with customers' needs and our innate understanding of business culture in Africa. Our commitment for high-quality client service prompted us to search for an innovative technology solution that meets the increasingly complex fund management and reporting requirements in the private equity administration space. We believe that eFront has the most advanced and recognized system solution which will support our commitment to high quality services and will assist us to further expand into the private equity market."

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