BlackRock agreed to acquire alternatives investment software provider eFront from private equity firm Bridgepoint, according to a joint statement Friday. BlackRock will pay $1.3 billion to Paris-based Bridgepoint and eFront's employees. The deal is expected to close in a few months, a BlackRock spokesman confirmed. It will be funded with existing corporate liquidity and debt, the statement said. The purchase is being seen as a way to strengthen BlackRock's alternatives and multiasset businesses through integration with Aladdin, BlackRock's existing operating platform. EFront's technology is used to manage the investment lifecycle, due diligence, portfolio planning, performance and risk analysis of alternative investments, the statement said.