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Backstop Solutions Group, LLC and HedgeOp Compliance, LLC today announced a marketing and software integration agreement that will combine HedgeOps leading web-based compliance platform with Backstops innovative Investment Partnership Management software. This new alliance will enable hedge funds and funds of hedge funds to address rapidly evolving compliance and operational challenges, while also effectively managing client relationships, accounting, investment research, asset allocation and reporting processes.
Regulatory compliance is one of the most important issues currently faced by the hedge fund industry, said Jeremie Bacon, Chief Executive Officer of Backstop Solutions Group. All leading investor management systems, including Backstop, allow managers to profile investors, store documents and monitor workflow but only the combination of HedgeOp and Backstop provides a deeply comprehensive platform for managing regulatory and operational concerns. Nothing else even comes close.
The combination of Backstop Software with HedgeOp Compliance offers tremendous value to fund managers, said William G. Mulligan, Jr., Chairman and CEO HedgeOp Compliance. A solid compliance and business infrastructure can accelerate workflow and help increase operational efficiencies, key goals for any fund seeking to build a prudent, effective business that ensures that the interests of their investors are adequately protected.
As of February 1, 2006, most hedge fund managers must be registered as investment advisors with the SEC, and be in compliance with the applicable requirements under the Investment Advisers Act.
About Backstop Solutions Group:
Backstop Solutions Group, LLC was founded by professionals from the asset management and hedge fund communities, and is the first provider of Investment Partnership Management (IPM) software for hedge funds, funds of funds, and family offices.
Backstop Software is the first software platform to integrate portfolio management and accounting, manager due diligence, partnership allocation, client relationship management, and reporting into one package. Backstop's integrated approach enables users to more effectively manage their funds, their clients and their businesses. Additional information is available at http://www.backstopsolutions.com.
About HedgeOp Compliance:
HedgeOp Compliance, LLC focuses exclusively on helping hedge fund and fund of hedge fund managers meet their compliance and SEC-registration challenges. The firm offers superior web-based compliance tools and specialized compliance consulting services designed to assist managers in dealing with the heightened regulatory environment. HedgeOp Compliance consists of a team of qualified professionals with a wide array of hedge fund, legal and technology experience, as well as a fully trained customer support and outsourced IT support staff.
The HedgeOp Web-Based Platform streamlines & integrates applicable compliance reporting into hedge fund operations, and generates a tailored compliance road map for hedge funds and funds of funds. The platform enables managers to easily monitor both fund statistics and ongoing compliance responsibilities by sending out automatic email reminders; subscribers then generate monthly and quarterly reports which demonstrate adherence to their compliance procedures and calculate key compliance figures. HedgeOps broad range of compliance solutions provide the practical insight and resources necessary to prepare a firm for todays heightened regulatory environment. Additional information is available at http://www.hedgeop.com.