09.08.2022 14:57

New Research Finds BD and IR Professionals at Private Funds Are Spending a Quarter of Their Work Week on Unplanned Interactions with LPs


Backstop Solutions survey highlights how unpredictable days and non-core tasks are impacting BD and IR professionals already strapped for time

CHICAGO, Aug. 9, 2022 /PRNewswire/ -- For business development (BD) and investor relations (IR) professionals at alternative asset management firms, one-quarter of their work week is spent on unplanned interactions with their limited partners (LPs), according to a new study from Backstop Solutions, the industry's leading cloud-based productivity suite for institutional and alternative investors.

Backstop Solutions

Backstop Solutions' 2022 Alternative Investment Manager Productivity Survey of Investor Relations and Business Development Professionals found that:

  • Unplanned LP interactions consume a significant portion of a BD/IR professional's time. The average respondent spends 35 hours each week interacting with LPs, with more than one-third of that time being unplanned (13 hours). In other words, one quarter of respondents' work weeks is likely to be taken up with impromptu and unanticipated meetings with investors.
  • BD and IR professionals are strapped for time. When asked how many hours they think they work on average, the result was 52. But when asked to add up the individual tasks that occupy their weeks, the total came out to 58. Hence, they may be working more than they think they are.
  • BD/IR professionals are doing double duty. 62% of BD/IR professionals surveyed participate in both capital raising and retention. While necessary for building and maintaining relationships, it increases the reliance on software to maintain efficiency.
  • Technology is a key driver of effectiveness and retention, as it automates manual tasks and allows professionals to spend time on the most valuable activities. BD/IR professionals at alternative asset managers are clear that they could be working more efficiently overall and using technology more effectively. Only 55% of BD/IR professionals are satisfied or very satisfied with their technology solutions while nearly 80% think "there must be a better way of doing this" on a daily basis.
  • 58% BD/IR professionals believe capital raising is more challenging in the current economic environment. Spending time on strategic responsibilities is more important than ever for BD/IR professionals, given the current market conditions.

"With economic uncertainty looming, those who are raising and retaining capital have to be more cognizant than ever of how they are servicing their clients," said Maryling Yu, chief marketing officer of Backstop Solutions. "As many BD and IR professionals wear two hats and spend so much time on unplanned interactions with LPs, focusing on differentiating themselves during these unplanned interactions by answering their questions insightfully and in-the-moment will help solidify their relationships with allocators."

Commissioned by Backstop, the study surveyed 103 BD/IR professionals from alternative asset management firms conducted from May 29 to June 29, 2022, with respondents coming from key segments such as private equity, hedge funds, venture capital, real estate, multi-strategy, private debt, and infrastructure/real assets managers.

Read the full results of the 2022 Alternative Investment Manager Productivity Survey here.

About Backstop Solutions Group, LLC

Backstop's mission is to help professionals in the institutional investment industry use time to its fullest potential. We develop technology to simplify and streamline otherwise time-consuming tasks and processes, enabling our clients to quickly and easily access, share, and manage the knowledge that is critical to their day-to-day business success. Backstop provides its industry-leading cloud-based productivity suite to investment consultants, pensions, funds of funds, family offices, endowments, foundations, private equity, hedge funds, and real estate investment firms. For more information, please visit www.BackstopSolutions.com.

Media Contact
Malea Lydon
BackBay Communications

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SOURCE Backstop Solutions

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