Cloud-based technology provider Backstop Solutions Group, LLC agreed to acquire BarclayHedge Ltd., an alternative investment data and index provider.

Terms of the deal were not disclosed.

With proprietary access to the 2,200 alternative investment managers and 6,900 funds tracked by BarclayHedge, Backstop will be able to help optimize institutional clients' research management and due diligence workflows.

BarclayHedge founder and President Sol Waksman will become president of the new Backstop BarclayHedge division.

Financial Technology Partners served as exclusive strategic and financial adviser to Backstop Solutions on this deal.