Monday, 2 May 2016
Last updated 2 days ago
May 2 2013 | 9:17am ET
Chicago-based Backstop Solutions Group, an alternative investment industry Software-as-a-Service provider, has a new line of products and a new CEO.
Backstop purchased the PerTrac CMS product line from data provider eVestment (the terms of the deal were not disclosed) which will bring its client base to 575. Overseeing the growth will be Backstop's newly appointed CEO, Clint Coghill, who has been with the firm since its founding in 2003.
Backstop has opened new offices in New York and London to accommodate existing employees and those joining the firm from eVestment.
“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.