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November 26, 2014, Copenhagen, Denmark: AltaReturn, a leading provider of cloud based end-to-end business software solutions for the private equity and alternative investment industry, is pleased to announce that Axcel has implemented AltaReturn to automate operations across its organisation.
Utilising AltaReturn’s end-to-end suite of products, Axcel implemented the Fund Accounting, CRM and Business Intelligence solutions.
“The fact that AltaReturn sits on top of a commercial general ledger gave us great confidence.” commented Lars Thomassen – Chief Financial Officer & Partner, “We have found them to be a trusted and professional business partner.”
Tony Poulson, Head of Operations – Europe at AltaReturn commented, “Axcel challenged us to deliver cutting edge investor reporting as part of the implementation and we are very proud of the results of our partnership with them. This flagship deployment also demonstrates our commitment to the Nordic region as a whole.”
About Axcel: Founded in 1994 by a group of investors from Denmark’s largest financial and industrial institutions, Axcel is a Nordic private equity firm focusing on mid-market companies and has a broad base of both Danish and international investors. It has raised four funds with total committed capital of around DKK 10 billion and has made more than 40 investments along with 50 significant bolt-on acquisitions. So far 28 of the companies in which it has invested have been sold or floated. Axcel’s investments currently include 13 portfolio companies and a significant holding in PANDORA, representing combined revenue of approx. DKK 17 billion and around 12,000 employees.
About AltaReturn: A next-generation technology, AltaReturn provides a comprehensive end-to-end solution designed for the Private Equity and Alternative Investment industry. Created using Microsoft as the platform technology, AltaReturn, has developed a suite of private equity solutions covering Fund and Corporate Accounting, CRM, Business Intelligence and Investor Portal Communication. Deployed on the cloud, these solutions are available as an integrated end-to-end suite or as independently licensed applications.