Sat, Apr 19, 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. Opalesque Exclusive: Classic Auto Funds Limited (CAF) launches several car investing funds[more]

    Bailey McCann, Opalesque New York: A new trend in alternative alternatives is emerging - car appreciation funds. Classic Auto Funds Limited (CAF) is the first to market with several funds that make super elite luxury cars into real asset investments. As a result of growing overseas demand couple

  2. CTAs could face new challenges in a rising rates environment[more]

    Bailey McCann, Opalesque New York: CTAs have taken a beating performance wise lately, and asset flows reports show that investors aren't sticking around to see how the movie ends. Now, a new white paper from Roy Niederhoffer and Coen Weddepohl notes that as interest rates start to tick back u

  3. Investing – Big hedge funds bought Puerto Rico's junk bonds, Fidelity explores new trading venue amid flash trade concerns, Crisis-era Greek bonds reward early buyers with big effective returns, Cargill unit discloses stake in Freddie preferred[more]

    Big hedge funds bought Puerto Rico's junk bonds From Reuters.com: Several large hedge funds doubled down on Puerto Rico in last month's giant bond sale despite the U.S. territory's financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspa

  4. Opalesque Exclusive: Hedge fund replicators evolve[more]

    Bailey McCann, Opalesque New York: Hedge fund replicators as a group of products tend to get a bad rap from hedge fund managers who suggest that the best a replicator can offer is dynamic beta capture. A

  5. Commodities – Popular value fund manager David Iben bets on Russia, gold,[more]

    From Reuters.com: With large bets on Russia and North American gold miners, one of the best performing stock pickers in the wake of the 2008 financial crisis is back with a new fund that reflects his deep aversion to following the crowd. In the Kopernik Global All-Cap Fund, David Iben is follo