Diligence Primers

Audited Financial Statements

A fund’s financial statements represent foundational due diligence evidence, particularly for ongoing monitoring of existing investments. However, the review of audited financial statements (“AFS”) is a challenging due diligence obligation given volumes and short timelines. This Due Diligence University Primer provides an overview of the different areas of AFS review to help guide investors through the annual financial statement process across their portfolios.

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Form ADV: Coming Soon!

Financial market regulation creates the “rules of the road” for the asset management industry. For managers registered as investment advisors with the US Securities and Exchange Commission, the Form ADV provides extensive information about the manager and their private funds, which creates a vital reference source for investor due diligence. What should investors focus on in the Form ADV and how do investors assess the significance of year on year changes?

Private Equity: Coming Soon!

Operational diligence on private equity vehicles is now the norm, bringing the PE / private markets space into the same due diligence framework as applied for open ended alternative asset vehicles. What are some of the features of the private equity industry which raise different due diligence issues for investors as they evaluate new investments and monitor their existing holdings?

Hedge Funds - Pricing and Valuation: Coming Soon!

Valuation issues can rapidly become challenging for hedge funds, due to both instrument complexity and illiquidity. This DiligenceUniversity primer discusses best practices around valuation, considering the role of the investment manager, the board of directors, the fund administrator, and external valuation agents.

Due Diligence University^®

Due Diligence University^® – a growing ecosystem of white papers, online tools and other educational resources to support every aspect of the due diligence process.

Castle Hall Diligence

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