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Alternative Market Briefing

Investors, researchers call for better disaster planning, operational due diligence

Thursday, February 21, 2013

Bailey McCann, Opalesque New York:

Hedge fund investors and researchers gathered Tuesday at an invitation-only event, at the Harvard Club in New York City, to discuss the need for greater disaster planning and improvements to operational due diligence procedures in the wake of superstorm Sandy and a spate of insider trading, and rate manipulation stories. The event was hosted by Corgentum Consulting which provides independent operational due diligence services for hedge funds and private equity.

The panel included: Stephen Brown, David S. Loeb Professor of Finance, New York University; Adam Cohen, Head of Operational Due Diligence of Alternative Investments Group, Morgan Stanley Smith Barney; David Gold, Head of Operational Due Diligence Americas, Towers Watson, and Louis Rodriguez, Head of Operational Due Diligence, Arden Asset Management. It was moderated by Jason Scharfman, Managing Partner, Corgentum Consulting.

In the wake of superstorm Sandy, many of the panelists cited a greater need for both disaster recovery and business continuity plans. They noted that offsite storage, a common plan in place before this storm may not be the best option if travel to that location is impossible. Panelists noted that going forward, they would be looking more closely at how a given fund plans to maintain operations through a disaster.

As Opalesque previously r......................

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