Monday, December 23

BlackRock acquires eFront in $1.3 billion Cash

NEW YORK & PARIS- BlackRock today announced that it has made a binding offer and entered into an exclusive agreement, subject to the conditions below, to acquire 100% of the equity interests in eFront, the world’s leading end-to-end alternative investment management software and solutions provider, from private equity firm Bridgepoint and eFront employees, for $1.3 billion in cash.

The combination of eFront with Aladdin, BlackRock’s investment operating platform used by more than 225 institutions around the world, will set a new standard in investment and risk management technology.

eFront, which serves more than 700 clients in 48 countries, is a comprehensive technology solution for managing the alternatives investment lifecycle, from due diligence and portfolio planning to performance and risk analysis, across a range of alternative asset classes.

“Technology and illiquid alternatives are two pillars of BlackRock’s growth, and this transaction provides a unique opportunity to accelerate our positioning in both,” said Laurence D. Fink, Chairman and CEO of BlackRock. “We’re particularly 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 immediately deepens our presence and technology capabilities in France, Europe and across the globe.”

“eFront vastly expands Aladdin’s alternatives capabilities and further distinguishes it as the most comprehensive investment operating platform in the world,” said Rob Goldstein, Chief Operating Officer of BlackRock. “In addition to 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.”

eFront, founded in 1999 by Olivier Dellenbach, is based in Paris and is the leading technology provider for managing the alternatives investment lifecycle, from due diligence and portfolio planning, to performance and risk analysis, across a range of alternative asset classes. eFront’s solutions serve investors in the private equity, real estate investment, banking, and insurance sectors.