Bridgepoint, a pan-European focused firm, has acquired eFront, a France-based software provider, from Francisco Partners, a technology-focused private equity firm for €300 million.
eFront, which was founded in 1999, provides software solutions to the financial services industry, specializing in enterprise risk management and alternative investments. It serves more than 700 customers and 100,000 users in 40 countries, including some of the largest companies in the private equity, real estate investment, banking and insurance sectors.
It is unclear what the sale might mean, if anything, for eFront's relationship with the AltExchange Alliance, a consortium of GPs, LPs and service providers who's mission it is to create an industry-wide data standard. Under a five-year contract, eFront certifies documents running through the AltExchange validation platform. A representative from eFront was not immediately available to respond to a request for comment.
eFront’s suite of solutions cover back office including fund administration and fund accounting, middle office portfolio monitoring and investor portal, and front office including CRM, fundraising and deal pipeline monitoring.
In 2006 eFront listed on the Alternext Paris market of NYSE Euronext (ALEFT) and was taken private in 2011 by Francisco Partners. The firm typically invests in transaction values ranging from $50 million to over $2 billion.
“We will work with management to strengthen eFront’s market share, target new customers, enlarge its product offering and assist it in expanding into new geographies and asset classes,” Xavier Robert, partner of Bridgepoint, said in the statement.