Backstop Solutions Looks to Tap Into Alternatives Space in APAC

Cloud-based financial technology solutions provider Backstop Solutions Group sees huge potential to grow in the Asia-Pacific (APAC) region, especially when it comes to the needs of fund of funds, private equity, venture capital, in addition to large pension funds and endowment funds, Steve Au, director of institutional sales in APAC for Backstop, tells WatersTechnology.

"There are a lot of business opportunities in Asia, as the market is expanding," he says. "We have seen the alternative investment space growing in Asia, so it's a great time to tap into the market. This is both for global institutional and local investors."

Au notes that many firms are still using wholesale platforms, multiple documents and spreadsheets to manage their businesses. "They don't necessarily have the systems in place. So we are educating them and helping them to manage their workflow better on a secure platform," Au says. The immediate aim will be to help asset allocators to better manage their portfolios and the investor communication process, he adds.

Backstop ─ which also has offices in New York, San Francisco, Los Angeles and London, as well as its headquarters in Chicago ─ already has 25 clients in APAC with the majority being in Hong Kong. While the firm does not have specific targets for clientele growth in the region, Au believes that due to the market size it can grow its numbers significantly.

"Having an office here is an important step for Backstop to expand our business in the region. We already have had some success here, even without a physical office," he says. "Hong Kong is a financial hub and that will be a strong foothold for us to expand our regional presence."

Au, who has joined the company to run its APAC sales operations, has more than 10 years of management experience in the buy-side technology and operational space. He previously spent time in senior sales and management positions in APAC for Charles River Development and Eze Software Group.