Backstop Solutions Group has acquired Cogency Software, a provider of accounting solutions for multi-manager investment firms.
Cogency’s clients are some of the world’s leading Fund of Funds, Endowments, Pensions, Outsourced CIOs, and Family Offices who collectively represent over USD100 billion of assets on the Cogency platform.
With the addition of Cogency, Backstop will further expand its capabilities, particularly in the areas of partnership accounting and portfolio management. Backstop also gains a seasoned team, new customers and two additional offices that increase their footprint in key locations – New York and California.
“We are very pleased about the addition of Cogency and the enhanced ability we will have to provide superior products and services to our customers,” says Clint Coghill, Chairman and CEO, Backstop Solutions Group. “We share a similar vision of providing our clients with solutions that help them save time, increase productivity and make better investment decisions. We are committed to continuing to build on the success that Jeffrey and his team have created.”
“The entire Cogency team and I are excited to join Backstop and bring the Cogency accounting platform and our expertise to a larger audience,” says Jeffrey Axelrod, Founder and CEO, Cogency Software. “It is great to be joining a company that is investing so substantially in its product and people in order to help its clients best accomplish their goals and objectives”.
