LONDON, December 16, 2010 /PRNewswire/ -- eFront, the leading European software provider of financial solutions for alternative assets, is pleased to announce that CVC Capital Partners ('CVC') has selected the FrontInvest platform to support its global private equity operations.

Founded in 1981, CVC is a leading global private equity and investment advisory firm, headquartered in Luxembourg with a network of 20 offices across Europe, Asia and the US and an aggregate of EUR10 billion in available equity capital. To date, CVC has raised over EUR35 billion from a diverse and loyal investor base, completing in total over 280 investments in a wide range of industries and countries. Providing value and maintaining investors' confidence has meant improving reporting processes and transparency while preserving best practices without any business disruption.

The selection process took 9 months. The long list of potential vendors was quickly reduced to 3 and then extensive workshops were used to further validate how each could meet the needs of CVC. This was a formal process involving key staff from CVC and the vendor side.

CVC decided to select FrontInvest Alternatives as it proved to be the only solution to clearly demonstrate a wealth of functionality beyond accounting and the ability to meet CVC's specific business requirements - from CRM and fund raising to fund accounting and portfolio management.

"It soon became clear that eFront had the strongest solution and the best people to handle the breadth and depth of this strategic project," commented Tracey Davies, Director, Private Equity Administration at CVC. "The company has an impressive history of successfully deployed solutions and we received strong client references from several countries. All in all, we not only appreciated the solution's flexibility but also the professionalism of the eFront team."

Stuart Keeler, Managing Director at eFront Ltd., added: "We faced all our competition during the selection process so we are very proud to be the chosen provider. Our investment in the product and staff over the past 2 years has clearly put us in a strong position to service General Partners. CVC Capital Partners is obviously a very prestigious private equity firm, owner of multiple awards in this industry. A lot of work has already been accomplished by the teams at CVC and eFront and we look forward to a long-term partnership."