Investment management below. Decision integrity above.
eFront, now BlackRock-owned, is the established institutional platform for alternative investment management — fund accounting, portfolio admin, risk analytics, investor reporting. Capital Refinery sits above it as the decision integrity layer for the IC.
Different layers of the same workflow.
What eFront owns
Fund accounting, portfolio admin, risk analytics, investor reporting.
Established institutional platform across PE, real estate, infrastructure, and private debt. The right tool for the management and reporting layer.
What Capital Refinery owns
The IC decision and the drift after it.
Lane-aware IC memo per position, Risk Signals graded against firm policy, source-backed numbers, IC anchor on approval, drift tracking after the room votes, signed exports for board and LP.
Why teams run both
eFront manages the fund. Capital Refinery defends the calls that filled it.
When the LP reads the eFront-published report and asks why a position is still held, Capital Refinery is where the answer renders — IC anchor, drift since approval, Risk Signals against firm policy, signed export the LP can verify independently.
Institutional readiness measurement
eFront solves fund administration, portfolio monitoring, and risk reporting for institutional alternative-asset managers. Capital Refinery operates a category eFront doesn’t: institutional readiness measurement — grading operating businesses (portfolio companies, pre-acquisition targets, borrower-side prospects) against the same 10-axis framework that buy-side ICs, lender credit committees, and LPs use to evaluate. The artifact carries a deterministic fingerprint and a public verification URL.
The two product surfaces don’t compete — they operate at different layers of the stack. eFront handles fund admin and portfolio operations; Capital Refinery handles structural readiness measurement on the underlying operating business and decision integrity through the lifecycle. See institutional readiness and the same-engine architecture for the dimension eFront doesn’t address.
Already running eFront? Add the IC layer above it.
Bring us a position from your portfolio. Same-day diagnostic pack back showing what the IC anchor would render alongside your eFront record.
Keep eFront if you need fund administration and risk reporting. Use Capital Refinery when you need a neutral, evidence-backed readiness artifact that shows what will survive institutional review.
Capital Refinery is the institutional measurement layer. It does not replace eFront; it sits next to it. The decision to engage is a routing decision, not a swap.
Working with an advisor or AI consultant? Use CR as the independent measurement layer via the Modernization Impact Review. Want to shape the methodology? Apply as a design partner.