CHICAGO, May 9, 2017 /PRNewswire/ -- Backstop Solutions Group, a leading provider of cloud-based productivity solutions for hedge funds, private equity firms, pensions, endowments, foundations, consultants, family offices, and funds of funds, is proud to announce it has won 'Most innovative technology provider' in the 2017 HFMWeek European Hedge Fund Services Awards. In 2016, Backstop overhauled its suite of products to create an end-to-end solution that solves many of the challenges of middle-to-back-office functions in hedge funds and other alternative investment firms, helping them achieve operational excellence and greater business agility through the transformation of individual into organizational information, the centralization of qualitative and quantitative information and efficient data management.
"Backstop is thrilled to be recognized for the solutions we bring to European hedge funds," said Clint Coghill, founder and CEO of Backstop. "As the industry changes and faces increasing pressure on fees, coupled with rising investor expectations for transparency and higher levels of servicing, the need for automation to create operational efficiencies is greater than ever. At Backstop, we are focused on delivering industry-leading solutions to our 740 alternative investment clients worldwide. Our 42 percent year-over-year growth in Europe in the last year is a testament to the necessity for this technology in the space."
The HFMWeek European Hedge Fund Services Awards are judged by a panel of industry experts who are selected for their wealth of expertise and experience, as well as their absence of conflicts of interest. This year's judging panel included C-suite executives across leading European hedge funds.
In 2016, Backstop experienced significant growth, adding 10 members to the executive suite, 99 new clients and 33 feature launches to the platform. Headquartered in Chicago, Backstop has grown to over 170 employees globally located in Chicago, New York, London, San Francisco, and Hong Kong.
This win comes on the heels of several other honors, including being named HFMTechnology's best CRM system in their 2016 European Technology Awards, and being shortlisted in 12 categories overall in the 2017 HFM US Technology Awards and 2017 Private Asset Management Awards.
About Backstop Solutions Group
Backstop Solutions Group is a leading provider of cloud-based productivity solutions for hedge funds, private equity, real estate, venture capital, endowments, foundations, family offices, pensions, outsourced CIOs and funds of funds. Founded in 2003, Backstop created the industry's first web-based software that empowers firms in the alternative investment management industry to adapt to change and overcome complex issues. With offices across the United States and in Europe and Asia, Backstop now serves over 740 firms worldwide, making it one of the fastest growing software providers in the financial services industry. For more information, visit www.backstopsolutions.com. Connect with us on LinkedIn.
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SOURCE Backstop Solutions Group