3i Infotech-Framework Opens New York City Office

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Establishment of North American hub provides additional capability and resource for growing private equity customer base

3i Infotech-Framework Logo

3i Infotech-Framework ("Framework") is pleased to announce the opening of its offices in New York City. Framework, the software provider dedicated to the private equity community, is a subsidiary of 3i Infotech, the global provider of IT solutions. The new office is located at 500 5th Avenue and will be the base for Framework's operations in North America.

As the North American private equity industry begins to recover from the impact of the financial crisis, fund managers are coming under significant pressure from regulators who demand improved risk management and investors who require greater transparency. At the same time, firms are seeking to provide a better service to investors in a challenging fundraising environment. The resulting increased burden on the internal operations of private equity firms, along with a growing desire for business efficiency, is the catalyst for the demand for Framework, which is a complete, end-to-end solution for the private equity industry.

The new office will be headed by Sanjay Tolani, who joined 3i Infotech-Framework over a year ago. Sanjay has 10 years' experience in private equity, having previously worked for JP Morgan Partners in the US as well as a private equity-focused management consultancy.

"Our expansion into North America is a clear demonstration of 3i Infotech's considerable and growing investment in the Framework business. We have signed new clients in New York and Montreal over the past few months, and market feedback indicates there is significant opportunity to build on this success. The new office in New York City provides a clear commitment to the local market and means we are perfectly placed to capitalise on this opportunity and increase the momentum we have already begun to build in the region," said Elspeth Goodchild, Managing Director, 3i Infotech-Framework.

Sanjay Tolani, Head of North American Operations, 3i Infotech-Framework, added, "The North American private equity market faces a number of significant challenges over the course of the next twelve to eighteen months, as it seeks to reassure investors, manage investments and attract and allocate new capital. Key to success is the ability to provide increasing levels of transparency and accountability. Consequently, the appetite for private equity software and services continues to accelerate.

"Our presence in New York means we are closer to our North American clients and prospects and are best placed to provide the market with timely service and support from a local operation."

About Framework:

Framework is a complete, end-to-end, alternative assets software solution which helps manage risk, enables transparency and increases operational efficiency for all types of organisation across the entire private equity market.

Framework is used by firms in Europe, North America and the Middle East which collectively manage over US$200 billion of alternative assets. These firms include private equity and venture capital groups, real estate investors, administrators, fund of funds, development funds and corporate funds. http://www.3i-infotech.com/Framework

About 3i Infotech:

3i Infotech (http://www.3i-infotech.com) is one of India's leading IT companies and among the top 3 Indian Software Products Companies.* The Company provides Technology, Transaction Services and BPO solutions (including Billing, Remittance Processing, Document Imaging, Managed IT Services, Application Software Development & Maintenance, Business Intelligence, Infrastructure Management, Testing, IT Staffing, Operations Outsourcing and IT Consulting) for the Insurance, Banking/Financial Services, Telecommunications, Government/Public Services, Utilities, Manufacturing, Healthcare/Life Sciences, Education, and Retail industries. The Company services customers in over 50 countries across 5 continents.

The Company's quality certifications include ISO 9001:2008 for BPO, ISO/IEC 27001:2005 for Data Centre Operations and ISO/IEC 20000-1:2005 for Data Centre Management Services. The Company has embarked on re-appraisal under SEI CMM ML 5 for all of its major software development centres in India.

3i Infotech is a member of the FinTech 100 and on the WorldBlu List of Most Democratic Workplaces.

  • Source: Dataquest, August 2009

Disclaimer:

Except for the historical information contained herein, statements in this release, which contain words or phrases such as "will", "would", "expect", "believe", and similar expressions or variations of such expressions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of our principal international markets, the performance of the industry sectors in which our clients are based, the performance of the information technology industry sector world-wide, competition, our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of our growth and expansion in business, technological implementation, changes, advancements, and redundancies, the actual demand for software products and services, or the future potential or feasibility thereof, changes in revenue, income or cash flows, our market preferences and our exposure to market risks, as well as other risks. 3i Infotech undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

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