Blackstone Invests in Cloud Theory
Blackstone's Innovations team partnered with Cloud Theory to develop FundEngine, a client-facing customer relationship management (CRM) system for alternative asst managers, which operates on top of Salesforce as a turnkey solution covering fundraising, client relations, fund management, due diligence, and research. It is available on a subscription basis.
“We are excited to partner with Cloud Theory to bring the Salesforce solution that works for Blackstone and make it available to the market. Managing our clients in FundEngine on the Salesforce platform allows us to continue to promote transparency with our clients across the suite of products we offer, and helps us maintain strong client relationships as we grow,” says William Murphy, CTO at Blackstone, who was profiled in Waters' pages last year.
The move is the latest in a string of investments in financial technology, following on its successful spinoff of performance and reporting provider iLevel, and current investment in documents management system vendor Watchdox.
The firm also won a pair of American Financial Technology Awards in 2013 for its BXAccess platform, including Most Cutting-Edge IT Initiative.
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