Sat, Feb 25, 2017
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   |   
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. Opalesque Exclusive: Swiss investors take fund seeding and acceleration into their own hands[more]

    Benedicte Gravrand, Opalesque Geneva: Banque Bonhote, a 200-year old Swiss private bank, last year launched a community of investors - heads of Swiss family and advisory offices and wealth managers - with the aim of co-investing in the kind of managers they wanted to invest in, either by way of s

  2. K2 Advisors : Why We Like Activist Hedge Fund Strategies and Some Thoughts on Alpha[more]

    Matthias Knab, Opalesque: Rob Christian, Senior Managing Director, Head of Research K2 Advisors, Franklin Templeton Solutions, writes on Harvest Exchange: When d

  3. Ex-Navy SEAL backed by Mario Gabelli, Jean-Marie Eveillard and other value giants off to strong start[more]

    From Valuewalk.com: Sententia Capital Management is not your average value focused hedge fund. The fund was founded by Michael Zapata, a former Navy Seal Team 6 Officer and has attracted funding from some of the best-known names in the value space. Mario Gabelli, Jean-Marie Eveillard from First Eagl

  4. Europe - 1 trillion euro non-performing loans are clogging EU lending channels[more]

    From Centralbanking.com: As much as 1 trillion euro of non-performing loans (NPLs) are still clogging the lending channel in the European Union. An EU asset management company (AMC) could address market failures in the secondary market for NPLs as part of a suite of measures designed to tackle the b

  5. Investing - Hedge funds' novel approach: investing for longer at lower returns, U.S. hedge fund Delta Partners lifts stake in Bellamy's, Hedge funds stockpile cobalt, electric carmakers on battery alert, Facebook is racking up the likes among the world's biggest hedge funds, Einhorn affirms gold on Trump uncertainty[more]

    Hedge funds' novel approach: investing for longer at lower returns From FNLondon.com: Hedge funds are known for making short-term bets, dipping quickly in and out of markets to take advantage of swings in prices. But, under pressure to innovate, some big-name managers are looking at ways