BlackRock Buys eFront

BlackRock buys eFront.

BlackRock buys eFront from Bridgepoint and eFront workers for $1.3 billion cash.  The plan is to combine eFront with the BlackRock investment platform Aladdin, growing private equity and real estate analytics for clients.
   
A’laddin is used by 225 firms worldwide and is best described as a risk managing technology.  Pension funds, insurance companies, and competing asset managers all license the software based on the resources they use.
    
eFront has 700 clients in 48 countries.  Their technology helps manage the speculation life span from due diligence and portfolio planning to performance and risk analysis.  eFront software helps private equity firms, real estate investors, and other commercial clients scrutinize their performance and fundraising, track their portfolios, meet accounting and regulatory duties, and communicate with stakeholders.
   
Laurence D. Fink of BlackRock said: ‘Technology and illiquid alternatives are two pillars of BlackRock’s growth, and this transaction provides a unique opportunity to speed up our positioning in both.  We’re excited about eFront’s global footprint, including its headquarters in Paris, which is a key market on the continent for BlackRock.  As a global asset manager, we are increasingly focused on understanding the unique needs of clients in each community where we operate.  eFront at once deepens our presence and technology capabilities in France, Europe, and across the globe.’
   
Rob Goldstein of BlackRock said: ‘eFront vastly expands Aladdin’s alternatives capabilities and further distinguishes it as the most comprehensive investment operating platform in the world.  Besides the benefits eFront will bring to Aladdin clients, the transaction also enhances BlackRock’s own alternatives investment platform and advances the company’s goal of using technology to strengthen its leadership position in the illiquid investment space and providing whole portfolio solutions to clients.
   
There's $9 trillion in alternative assets under management in the industry today and clients are incorporating them into their investment strategies at a record pace.  This has created an unprecedented need for risk and investment management capabilities spanning both public and private asset classes.  Offering eFront’s leading capabilities in alternatives to the Aladdin Community through BlackRock Solutions will let our clients access a whole portfolio approach that Aladdin provides.  We are excited to welcome eFront’s 700 employees to BlackRock as we continue to offer eFront as its own platform and enrich its value proposition with Aladdin analytics.’
    
Tarek Chouman of eFront said: ‘Aladdin has long set the standard for investment and risk management technology and eFront is excited to be joining the market leader.  BlackRock’s dynamic platform and global reach will let us help even more clients with their alternative asset needs and greatly enhance the value proposition we offer our clients today.’
   
Xavier Robert of Bridgepoint said: ‘eFront is a high growth business which since its acquisition by Bridgepoint in 2015 has undergone a period of significant transformation to become the market leader in software for the alternative asset management industry.  With its strategically positioned platform, a leading product portfolio, and a high-quality management team, the business is now poised for further growth under BlackRock’s ownership.’
   
Credit Suisse and Morgan Stanley advised eFront and Bridgepoint.

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