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Vækstfonden selects FrontLoan for Debt Management

eFront, the leading software solutions provider for the alternative assets industry, is pleased to announce that Vækstfonden has confirmed its confidence in the FrontInvest platform by adding FrontLoan, a powerful debt management module, into the existing configuration.

Vækstfonden is a Danish government-backed investment fund and has been using FrontInvest since 2005. The fund invests in funds and portfolio companies, managing numerous loans including convertible and annuity debt instruments, and has been looking for software with loan management functionalities. As part of the FrontInvest solution, FrontLoan provides a flexible solution to track and manage debt instruments. The automatic calculation of potentially complex interest, amortization and accrual schemes is handled by FrontLoan, which enables Vækstfonden to have a real time view on all debt positions and due payments. Moreover, eFront developed an accounting interface to ease the accounting process and improve data quality. This new feature is compliant with the existing information system, allowing secure deployment.

“In order to cope with a fast-growing activity, we needed a scalable solution. The objective was to use a single management tool for administrating our loan portfolio,” commented Martin Vang Hansen, Senior Vice President and CFO at Vækstfonden. “FrontInvest proved to be the software solution most adapted to our specific requirements.”

Catherine Le Caranta, Head of the Post Implementation Services Team at eFront, added: “The ability of FrontLoan to easily integrate with the existing FrontInvest system, as well as the multiple functions it offers, positioned us as the preferred software solution. The strong and close relationship with Vækstfonden has allowed eFront to deliver a tailor-made solution to fit the complex and specific requirements. This illustrates eFront’s commitment to support our clients after their systems go live. Our clients want tools that are both standard and adaptable, catering to their specific needs, in case they have to diversify or manage complex assets. eFront is delighted to be a strategic and long term partner for Vækstfonden.”