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Magic Stone Goes Live with FrontInvest Alternatives for RMB PE Fund of Funds

eFront, the leading software provider of financial solutions, is pleased to announce a successful implementation at Magic Stone Alternative Investments, a leading fund of private equity funds specialist in China that offers both RMB and USD private equity FOF products managed by a dedicated 10-person strong team. eFront continues to demonstrate its support of the rapidly growing alternative investments market in Asia by enlarging its client base in production in Asia.

Magic Stone is one of the first companies to have launched RMB fund of funds in China. They are a sister company of Maple Valley Investments, a leading boutique investment bank in China, whose strategy is based on the belief that the current stage of the Chinese private equity market can provide more investment opportunities and better returns than most other mature or emerging markets. Through a carefully selected and diversified portfolio, the company is confident in providing high returns and controlling risks for its LPs.

Last month, Magic Stone decided to select a software solution to respond to the increased interest in Chinese RMB funds. They selected FrontInvest Alternatives for its superior reporting, strong analytics and ability to provide a Chinese version. The team of experienced PE professionals also wanted a local partner with a proven track record of successful implementations worldwide. After only a two-week implementation, the system is up and running and the company has access to a complete front-to-back solution including fund raising, deal-flow management, portfolio management and fund and investor management.

Mr. Ye Li, co-founding partner of Magic Stone, comments: “eFront complemented their system with an experienced team for the implementation phase. eFront's consultants provided project management assistance with key insights into PE best practices based on their past implementations and ensured knowledge transfer to our team. All these factors contributed to the successful implementation.” Ms. Jenny Zeng, also a co-founding partner of Magic Stone, added: “What we have today is a system that is powerful, dynamic and robust, providing performance and analytics on the fly. We would like to thank the team for the fast completion of the project.”

“The implementation of Magic Stone is a major milestone in the development of eFront in China. It will strengthen the confidence of local PE firms that FrontInvest Alternatives is a fast and easy to deploy solution,” commented Tarek Chouman, Managing Director, eFront Asia. “We know that China has a great amount of potential and we look forward to developing new relationships in this region. On-time and smooth implementations are a prerequisite to success in our business.”