Wed, Apr 23, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Backstop acquires PerTrac CMS and names new CEO

Thursday, May 02, 2013
Opalesque Industry Update - Backstop Solutions Group (BSG), a Software-as-a-Service provider to the alternative asset management industry, announces the acquisition of the PerTrac CMS product line, a specialized customer relationship management tool built exclusively for the institutional investment community, from eVestment, a premier global provider of comprehensive institutional investment data and intelligence solutions. Terms of the deal were not disclosed.

With this acquisition, Backstop now serves over 575 clients in the private investment community, including hedge funds, funds of hedge funds, endowments and foundations, institutional investors, family offices, pensions, private equity firms and consultants. Backstop also opened new offices in New York and London this week to accommodate existing Backstop employees as well as new Backstop team members coming over from eVestment. Backstop will support CMS clients from its headquarters in Chicago and provide local support in both New York and London. This month Backstop is also celebrating its tenth year anniversary in the private investment industry and is excited to work with these new clients and team members in the decade to come.

To coincide with this new phase of growth, Backstop has named Clint Coghill as its new Chief Executive Officer. Clint has been an integral part of the Backstop family since its founding in 2003, helping to shape the business plan, supply the initial investment capital, and act as the founding Chairman of the Board of Directors.

“We are very excited to bring CMS clients over to the Backstop family and to be working with the CMS team to now also offer a best in class SaaS option for CMS clients,” said Backstop President and Co-founder, Andy Pruitt. “This acquisition is also a great opportunity for us to expand our growth and presence in New York, London and within the entire alternative investment community.”

Backstop’s core offerings include web-based CRM, account management, research management and portfolio management software, in addition to its investor web-portal solution, InvestorBridge. The acquisition of PerTrac CMS includes client-server installed CRM software for centralizing email, contacts, documents, due diligence, fund terms, subscriptions and other investor information. eVestment will retain ownership of PerTrac Analytics, a hedge-fund investment analysis tool.

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Banner
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing
  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. …And Finally – Flight attendant has passengers rolling in aisle[more]

    From Orange.co.uk: A video of a US flight attendant turning her safety talk into a comedy routine is proving a huge hit online. More than five million people have watched the clip of Marty Cobb which has her passengers rolling with laughter on a Southwest Airlines flight to Salt Lake City.

  2. Niche Investing – Wealthy investors flock to fine art funds[more]

    From Clickorlando.com: Wealthy investors looking to diversify beyond stocks and bonds are now turning to an unusual money-making vehicle -- the art investment fund. The name says it all: These funds invest in fine art and seek returns by acquiring and selling high-end pieces for profit. Growth

  3. University of Michigan allocates $242m to six managers[more]

    From PIonline.com: University of Michigan, Ann Arbor, invested or committed a total of $242 million to one traditional equity manager and five alternative investment funds from its $9 billion endowment. University regents approved the hire of Mittleman Investment Management to run $35 million in act

  4. Performance – Odey flagship hedge fund suffers brutal March as shorts rise, Blackstone first-quarter profit rises 30% on higher fees[more]

    Odey flagship hedge fund suffers brutal March as shorts rise From Valuewalk.com: The tide has turned for the worse for one of Europe’s best performing hedge funds. Crispin Odey’s flagship hedge fund, Odey European has suffered a 4.63% decline for the year after slipping 7.2% in March, ac

  5. Agecroft Partners estimates 90% of hedge funds using social media[more]

    The use of social media has increased significantly within the hedge fund industry over the past couple of years. Social media is broadly used by investors as part of their due diligence process on hedge funds, by service providers in their sales efforts to hedge funds, and by hedge funds to enhance