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Chris Addy Bailey McCann, Opalesque New York:
In the wake of the 2008 financial crisis and scandals such as MF Global, investors have become much more active during the due diligence process. To meet this demand, operational due diligence providers are becoming more popular and investors have a variety of models to choose from. Historically, operational due diligence has been provided through law firms, accountancy firms or fund administrators. However some firms are offering the service independently of those other functions.
One such firm, Castle Hall, is a Canada-based provider of independent operational due diligence. The firm performs due diligence reviews on single strategy hedge funds, managed accounts and has also developed a proprietary process to complete operational due diligence on fund of funds.
"We are a pure play operational due diligence firm, so we aren’t burning the candle at both ends by working with investors and managers. We only work with investors," says Chris Addy, CEO, Castle Hall in an interview with Opalesque.
He notes that the driving force of the company is to focus solely on operational due diligence, "I don’t think the phrase due diligence and Chinese wall should be in the same sentence."
Addy’s philosophy stands out from many firms that rely on the Chinese wall – a structure which some in the industry admit is a myth. During a ...................... To view our full article Click here
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