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Genworth to manage cross-asset portfolio with Aladdin and eFront
Genworth Financial, a prominent insurance holding company and long-standing Aladdin client, has selected eFront, the leading alternative investment technology solution. This addition, together with Aladdin, allows the company to support asset allocation and risk management across private equity and credit investments.
Genworth selected eFront due to its modular and flexible end-to-end product suite. The chosen solutions, eFront Invest and eFront Insight, will help to address key challenges such as the operational burden associated with tracking underlying asset-level data and being able to easily access this data for meaningful exposure and performance analysis. Additionally, the solutions will assist with the operational rigor and controls around the processing of Investment Book of Record data.
Jim Kennedy, Vice President and Investments Chief Financial Officer at Genworth Financial, stated, “Genworth is excited to extend our partnership with BlackRock to manage our alternative assets on the eFront platform. The combination of eFront’s market-leading tools and managed data services will allow us to effectively and efficiently manage the portfolio in a manner similar to what we experience on the liquid side through our use of Aladdin.”
Tom Williams, Head of eFront Insight North America at BlackRock, added, “We are thrilled to be onboarding one of our existing Aladdin clients on to the eFront suite. Once implemented, Genworth will be well-positioned to effectively manage its alternative assets alongside its marketable securities, simplifying cross-asset portfolio management more than ever. Partnering with Genworth confirms our belief that we can provide unparalleled value to our clients by bringing Aladdin and eFront together.”
About Genworth Financial, Inc.
Genworth Financial, Inc. (NYSE: GNW) is a Fortune 500 insurance holding company committed to helping families achieve the dream of homeownership and address the financial challenges of aging through its leadership positions in mortgage insurance and long term care insurance. Headquartered in Richmond, Virginia, Genworth traces its roots back to 1871 and became a public company in 2004. For more information, visit genworth.com.
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ABOUT ALADDIN
Aladdin® is a technology platform used by asset managers and owners including banks, financial institutions, pensions, corporations, insurers, and wealth managers. The Aladdin platform unifies the investment management process, providing a common data language within an organization to enable scale, provide insights, and support business transformation. Through eFront® technology, alternative investment data management is covered to meet the needs of alternative investment professionals worldwide and across all major alternative asset classes. From fundraising, fund administration and reporting to data services and analytics, the platform provides capabilities to support decision making and investment oversight.
Aladdin® and eFront® platforms bring together public and private asset class data to create an industry-recognized whole portfolio solution for investment professionals globally. Find out more at www.blackrock.com/aladdin | request@blackrock.com
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