BlackRock today announces the launch of eFront Provider, designed to enable asset servicers to offer asset managers a modern fund servicing experience, complete with real-time views into their private markets investor, fund and investment data. eFront Provider complements BlackRock’s widely used fund administration, investor servicing and data management capabilities for private markets asset servicers.
Global financial service provider Apex Group (“Apex”) has been onboarded as the first eFront Provider client. The eFront Provider product establishes an interconnected, two-way data flow between Apex and its clients. Through a single solution, Apex provides an expansive range of services to asset managers and financial institutions. With over $3.1tn assets on platform serviced across custody, administration and depositary worldwide, Apex were looking for a solution that advanced client collaboration and data sharing, giving their asset manager clients direct access to their data.
Asset managers and asset servicers have faced technology and data challenges when collaborating across different participants within the private markets ecosystem. Legacy private markets systems are often characterised by manual processes, which can lead to inefficiencies and delays when exchanging information.
With a view to solving these challenges, BlackRock has created eFront Provider, an innovative solution to enable asset servicers to collaborate efficiently and effectively, reduce operational risk, and differentiate their service offerings, while giving asset managers better access, transparency, and control over their data.
eFront Provider streamlines processes for Apex by digitizing highly manual tasks, freeing up valuable resources, and allowing users to focus on business growth. By providing a single, integrated view of documents and data, the platform enhances transparency across all parties involved in the fund administration process and improving the end-client experience as they conduct their oversight duty.
Tarek Chouman, BlackRock’s Global Head of Aladdin Client Business said, “Within private markets, access to streamlined shared workflows based on a consistent data set is a key challenge for asset servicers and asset managers. With eFront Provider, we are helping asset servicers navigate the complexities—and empowering them to scale, reduce operational risk, and collaborate seamlessly with their general partner clients.”
eFront is a recognized technology platform for alternative investment management, covering the needs of alternative investment professionals end-to-end, and used by over 850 clients worldwide across all major alternative asset classes. As a part of BlackRock, the eFront® and Aladdin® investment management technology platforms unify public and private asset classes to create a multi-asset technology solution for investment professionals globally.
Peter Hughes, founder and CEO of Apex Group, said:
“We are pleased to collaborate with BlackRock on the launch of this product. Their strong track record of delivering for clients mirrors our dedication to ensuring a seamless and continually innovative client experience. Through this great offering, clients will have enhanced access to data between private market fund stakeholders and can use technology to unlock scale and improve service levels. We look forward to continuing our relationship with BlackRock – furthering innovation together.”
About Aladdin® by BlackRock
Aladdin® is a tech platform that unifies the investment management process by providing a common data language within an organization to enable scale, provide insights, and support business transformation.
As a strategic partner to institutional investors including asset managers, pension funds, insurers, and corporate treasurers, Aladdin® combines sophisticated risk analytics with comprehensive portfolio management, trading, operations, and accounting tools on a single, unified platform. BlackRock’s Aladdin® platform is a financial technology platform designed for institutional use only and is not intended for end investor use.
About Apex Group
Apex Group is dedicated to driving positive change in financial services while supporting the growth and ambitions of asset managers, allocators, financial institutions, and family offices. Established in Bermuda in 2003, the Group has continually disrupted the industry through its investment in innovation and talent.
Today, Apex Group sets the pace in fund and asset servicing and stands out for its unique single-source solution and unified cross asset-class platform which supports the entire value chain, harnesses leading innovative technology, and benefits from cross-jurisdictional expertise delivered by a long-standing management team and over 13,000 highly integrated professionals.
Apex Group leads the industry with a broad and unmatched range of services, including capital raising, business and corporate management, fund and investor administration, portfolio and investment administration, ESG, capital markets and transactions support. These services are tailored to each client and are delivered both at the Group level and via specialist subsidiary brands.
The Apex Foundation, a not-for-profit entity, is the Group’s passionate commitment to empower sustainable change.
Media contacts
BlackRock
Emma Phillips
+44 (0) 7841 220365
emma.phillips@blackrock.com
Ellie Bishop
+44 (0) 7741811316
ellie.bishop@blackrock.com
Apex Group
Chanel Townsend
+447391 046 830
chanel.townsend@apexgroup.com
