Old Mutual selects eFront for administration duties
Old Mutual Investment Group SA Alternative Investments has picked eFront’s FrontInvest platform to handle the administration of its alternative investment assets.
OMIGSA, part of Old Mutual plc, is one of Africa’s largest asset managers, with more than R472bn (€47bn) under management as of December 2011.
FrontInvest will be used in the managers’ central back office, and across different departments to manage multiple asset classes, including private equity, infrastructure and development impact funds.
Karin du Toit, chief operating officer, OMIGSA Alternative Investments, said: “We chose eFront because its solution best addressed our requirements. FrontInvest is adaptable according to our business growth and specific needs. eFront has provided us with a very innovative and flexible solution.”
Philippe Verboogen, COO eFront Europe, said: “eFront is an increasingly important and well-recognized player in this part of the world. We are investing in Africa as the market there is very active and dynamic and we are extremely pleased to have Old Mutual Investment Group as a new client.”