Dear valued clients and friends:
Everyone at Castle Hall is very pleased to announce the next step in our diligence journey – the formal launch of DiligenceExchange.
Many of you are already using DXC and benefiting from our consistent, verified reference data. Using DXC, you are then able to compare identified risks at individual managers and funds to your full portfolios - and then to our industry wide DiligenceExchange benchmarks.
Our formal launch allows us to market DXC more actively across the industry. We’re looking to build momentum and buy in from both investors and managers that there are clear benefits to a more efficient and standardized approach to due diligence. And, importantly, as Castle Hall adds more manager data to the overall DXC library, our data set becomes larger, enabling deeper insights from the DXC benchmarks.
As always, we greatly appreciate your business and your support of Castle Hall as your due diligence partner. Please don’t hesitate to reach out to Marice Young and her client support team, or to Anne and myself directly, if we can help with delivering the due diligence you need to support your investment programs.
Chris Addy, CEO.
Click to view the press release here.
MONTREAL, April 20, 2022 (Newswire.com) - Castle Hall, the Due Diligence Company, is proud to launch DiligenceExchange, delivering a new level of industry intelligence for institutional investors. DiligenceExchange (DXC) contains due diligence data on several thousand funds across traditional (stock and bond) and alternative strategies (hedge funds, private equity, venture capital, real estate, infrastructure and private credit).
Castle Hall's standardized approach to due diligence data collection underpins the entire DXC program. Castle Hall uses a consistent scope and methodology to gather data from each asset manager/GP. The firm then completes independent "trust but verify" checks to protect against fraud.
"DiligenceExchange delivers a powerful combination of efficiency and transparency," said Chris Addy, Castle Hall's CEO. "Working with consistent, verified DXC data, Castle Hall uses proprietary algorithms to identify potential risks triggered for each manager and fund. DXC subscribers can then use the Castle Hall platform to generate a portfolio-wide view of risks, aggregating diligence analytics across their full roster of external managers."
"The real game-changer, however, are DiligenceExchange benchmarks" continued Addy. "DXC subscribers can not only see how frequently a risk arises in their own portfolio but compare that risk to our industry-wide DXC benchmarks."
For example:
Anne Coady, Castle Hall's Managing Director, said, "DiligenceExchange solves the current due diligence bottleneck when investors send individual data requests to their managers, either using spreadsheets or an online survey tool. Not only is this process highly inefficient for asset managers - who need to respond repetitively to the same core questions in multiple different ways - it also prohibits the collation of a 'golden master' of industry data.
Castle Hall uses a consistent methodology to gather data on behalf of all our 200 clients. This allows Castle Hall to calculate industry benchmarks based on the collective investing footprint of this large group of investors."
DXC subscribers receive access to all existing DXC reports and can request unlimited further additions to ensure complete coverage of their own portfolios - all for one flat fee. Managers retain control of their information through a "connection" process, whereby existing information is shared with investors via online connection requests.
"Core data collection is simply not the highest and best use of time for in-house professionals," said Addy. "Castle Hall clients use DiligenceExchange to move up the diligence value chain to focus on identified issues, not baseline data gathering."