Following a year of unprecedented growth, Backstop Solutions Group (BSG) – a leading provider of cloud-based solutions for the institutional investment industry – continues its success in 2014, signing 23 new clients in Q1. Backstop also entered 2014 with enhanced functionality to help hedge fund managers and alternative asset managers streamline communication, improve productivity and save time.
Backstop serves more than 600 hedge funds, fund of funds, endowments, family offices, foundations, private equity firms, pensions and consultants. With a new office in London, Backstop is continuing to add more clients worldwide, including several marquee institutional firms.
“The acquisition of PerTrac CMS last year led to a record year for our company and was a driving force in growing our client base by 65 percent,” said Geoff Surkamer, global head of sales and marketing at Backstop Solutions Group. “This impressive start to 2014 shows that we’re poised to continue growing this year, and with the rollout of updated features for both hedge fund managers and allocators, we will continue to diversify our client base.”
Product enhancements for investor and investment management operations include the activity search engine for full keyword and phrase searching of documents, notes, meetings and calls; a currency exchange override that allows managers to input their own FX; and improvements to the Microsoft® Office integration for both Microsoft Excel and Microsoft Outlook. In addition, Backstop also introduced the Private Equity Investor Relations Module, which offers the ability to track investors’ commitments, capital calls, distributions and fees within Backstop.
“We’re continuously updating our software to meet industry demands and provide our clients with the best possible user experience. The new features are prime examples of how Backstop can help centralize data and workflows to reduce complexity and increase productivity,” said Surkamer.