Did you know that Texas has a GDP larger than Russia’s and its geographical size rivals some European countries?
But did you also know that the Employees Retirement System of Texas is one of the largest public pension plans in the country? Valued at $28 billion and with over 370,000 beneficiaries, everything definitely is bigger in the Lone Star State.
So what does a retirement system of this size do when it needs an institutional quality data management and reporting platform?
Growing (and Managing) Assets with Limited Resources
When Anthony Curtiss, Director of Hedge Funds, needed a system to help him grow and manage more than $1.7 billion in assets, he faced a challenge. He knew that for the ERS Hedge Fund program to grow and make direct investments, it needed more. It needed change.
“We needed to be more organized and more institutional and building a platform from scratch wasn’t an option.”
So he began looking for a turnkey solution that was easily configurable, cost-efficient, and didn’t drain resources.
It also had to:
- Easily track and share information across multiple groups and channels
- Track performance and risk metrics (including standard deviation and largest drawdown)
- Create configurable internal reports
Given its existing framework – along with the ability for further configuration – Backstop Solutions made the most sense.
As a result, Backstop gave ERS Texas a complete system with greater control over their data and better utilization of their internal resources.
Not only did ERS stand out among their industry peers, but they further established themselves as an institutional player.The results didn’t stop there though.
“We had an external consultant come in and evaluate our internal processes. My group scored extremely high, and Backstop was one of the things that differentiated us. It made us a standout.”
Learn more about how Texas ERS leveraged Backstop to gain greater operational efficiency by reading the full customer success story here.