Sundaram BNP Paribas Fund Services has engaged France-based eFront to meet the software needs required in servicing its private equity clients. The joint venture is involved in providing accounting and other services relating to the securities held by PE players. Shridhar Iyer, CEO, Sundaram BNP Paribas Fund Services, said the technology would help streamline its operations. The Indian PE market, currently estimated at $70 billion, is one of the fastest growing markets in the world. The task of streamlining fund administration and accounting services is increasingly getting more and more complicated. The companay recognizes eFront as a provider of latest technology solutions with significant global experience in the PE space. The tie-up is borne out of the company’s confidence in eFront’s expertise, Iyer said.
