Castle Hall Diligence launches next generation OpsDiligence online due diligence platform
Aug 10, 2014 10:52:00 AM
Castle Hall Diligence today announced the launch of OpsDiligence, the investment industry’s next generation due diligence platform. Built upon Castle Hall’s industry leading, online diligence architecture, OpsDiligence allows investors to build comprehensive due diligence programs across all asset classes, including hedge fund, private equity and long only portfolios.
“OpsDiligence offers a new solution to the challenges of investor due diligence” said Chris Addy, Castle Hall’s President and CEO. “As the operational due diligence process has matured, investors now require a flexible, risk based approach, coverage across all holdings, irrespective of asset class, and a far more sophisticated technology platform. OpsDiligence delivers across all these criteria”.
The foundation of OpsDiligence is OpsData. As the first step in every due diligence review, Castle Hall populates the OpsData online platform based on information gathered from the firm’s proprietary diligence questionnaires and key manager and fund documents. For investors, OpsData replaces inconsistent, manager generated DDQ formats with a standardized and detailed ODD reference manual for every fund in a portfolio. Importantly, Castle Hall controls data entry, ensuring consistency and completeness.
Thereafter, OpsDiligence offers a flexible hierarchy of due diligence procedures, supporting diligence on initial allocations as well as the process to monitor evolving operational risks across an existing, invested portfolio.
“Diligence is not one size fits all” said Anne Coady, Managing Director. “Investors need a flexible approach: diligence on a new hedge fund allocation is not the same as ongoing coverage of an invested private equity holding. OpsDiligence offers a combination of verification, desk and onsite diligence reviews, together with a comprehensive ongoing monitoring platform. Together, these tools enable investors to develop a highly effective due diligence program.”
In all cases, Castle Hall provides full portfolio coverage. “Castle Hall has completed diligence on significantly more than 1,000 fund entities” said Addy. “We do not limit our work to a pre-existing coverage list, ensuring that Castle Hall can complete diligence on any fund – which can also include client specific structures such as funds of one and managed accounts.”
OpsDiligence offers a range of access models. Clients may conduct diligence on a fund by fund basis with no minimum retainer, or engage with Castle Hall on a portfolio basis to benefit from OpsDiligence coverage across all positions.