Backstop Solutions Group, a cloud-based CRM provider for institutional and alternative investors, is set to acquire BarclayHedge, which produces alternative investment data and indices.
In a release issued today, BackStop says that adding BarclayHedge to its portfolio of acquired companies represents a significant step in its long-term vision of a productivity suite for institutional and alternative investors.
“With proprietary access to the 2,200 alternative investment managers and 6,900 funds tracked by BarclayHedge, Backstop will be able to offer institutional clients a unique combination of technology, tools, services and data to help optimise their research management and due diligence workflows. Alternative asset managers who currently report to BarclayHedge will also benefit by having their exposure to asset owners potentially triple when the client communities of both Backstop and BarclayHedge are combined,” it says in the release.
Clint Coghill, Backstop’s chairman and CEO, comments: “Backstop’s vision is to optimise every step of the investment process for institutional and alternative investment firms, from capital raising to investor relations to research and portfolio management. This acquisition supports our vision by removing friction for asset owners conducting research on alternative managers and for alternative asset managers hoping to get their data in front of those asset owners.”
He adds; “With BarclayHedge’s premium reputation and meticulous collection of fund, performance, and investment data, we’ll be able to maximise our clients’ research capabilities. Our recent round of financing was undertaken to fuel growth and execute faster against our strategy, and this acquisition helps us do exactly that.”
Sol Waksman, founder and president of BarclayHedge, will become president of the Backstop BarclayHedge Division following the acquisition.
“I’m personally very excited to be joining forces with Backstop and its client base of both asset owners and asset managers. There are many synergies to be unlocked in our respective lines of business, and I look forward to unlocking them,” says Waksman, “We collect over 300 data points per fund manager, providing institutional asset owners with a rich set of information they can rely upon to select the right managers for their portfolios. We can now make those data points available to a new universe of asset owners, as well as provide our fund managers with a more seamless reporting process through better integrated tools. It’s the classic ‘win-win’ for both companies.”