eFront, the leading European software provider of financial solutions for alternative assets, is pleased to announce that CITIC Private Equity Funds Management Co., Ltd. (“CITIC PE”)has selected the FrontInvest platform to support its investmentoperations.
CITIC PE, a leading Chinese private equity fund manager, is the strategic private equity investment platform of CITIC Securities, one of the top-notch Chinese investment banks,andCITIC Group, the largest financial and industrial conglomerate in China. CITIC PE currently manages over $2billion inassets and seeks to achieve good performance through activeinvestment strategies, closing the gap between business and capital.
CITIC PE decided to select FrontInvest for its front-office features that empower front-office end-users to gain autonomy of the solution, including the ability to custom-design adjustments for their constantly evolving needs.
“CITIC PE is aiming to close a significant number of deals,” commented Mr. Yibing Wu, President of CITIC PE. “Our investment teams want to make sure they are managing their PE investment activities with industry-leading IT solutionsthat comply with the qualitystandards in its field.”
Tarek Chouman, Managing Director Asia-Pacific at eFront, added: “eFront demonstrated to CITIC PE a long-term vision and strategy on a global basis and will also provide scalability and efficiency through a local delivery model. CITIC PEneeded a provider with a Chinese presence for implementation services and support. This new additional client in China underlines our continued support to the PE industry in China and eFront's position as the leading software provider”.
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