In DoDiligence™ – Reinventing the Due Diligence Process, institutional investors, due diligence experts and asset managers collaborated to give the onerous investment due diligence process a do-over. The resulting white paper offers guidelines and recommendations for any institution that wants to rethink their due diligence processes. Download the DoDiligence™ paper.
Reinventing due diligence in the course of a day seems ambitious, but Uncorrelated, LLC made it a mission. Why not attempt to change a process that investors, asset managers, and experts all agreed had become more arduous and less effective? In reaction to the Madoff fraud, the process has become a ‘box-checking exercise’: bogged down by increasingly bloated questionnaires, awash in documentation, and fixated on operational due diligence. This approach persists despite little evidence that it produces better results.
DoDiligence™ – Reinventing the Due Diligence Process, an Uncorrelated Whiteboard Project, brought together investors from foundations, endowments, pensions and insurance companies; industry experts; and asset managers for a day of conversation and collaboration to reexamine due diligence; apply new information about technology, data and analytics, and qualitative thinking; and determine improvements. We called the program DoDiligence™’ because due diligence is what our investor constituents do. We were certain this was the ideal topic, because we could not accommodate all the institutional investors that wanted to participate.
The DoDiligence™ white paper provides a framework to guide investors toward reinventing their due diligence processes. Driven by three themes – Fiduciary, Flexibility, and Forethought – the recommendations reflect the need to optimize resources, integrate due diligence into the entire investment process, and implement insightful analytics and efficient technology. The paper includes the State of Due Diligence, highlighting the thinking of the experts who spoke at the workshop, advice for Making Cybersecurity Part of Due Diligence, participant information, and conclusions and next steps.
Where to find key information in the DoDiligence™ white paper:
- Introduction (Pages 1-2)
- From our Investor Thought Partner (p. 2)
- Executive summary and results (pp. 3-7)
- The State of Due Diligence: Expert speakers address key topics (pp. 8-12)
- Making Cybersecurity Part of Due Diligence (p. 13)
- Participants (pp. 14 – 19)
- Conclusion (p. 21-22)
Expert Speakers: Alphabetical by organization
- Westley (West) Chapman, Chief Executive Officer & Co-Founder, AlphaPipe
- Ken Akoundi, PhD, President, ASPN Solutions
- Robert P. Rittereiser, Chief Executive Officer, The Global Trademaster Company
- Kenneth Citrella, Senior Managing Director, Guidepost Solutions LLC
- Joseph Jaffe, Chief Compliance Officer and Deputy General Counsel, Guidepost Solutions LLC
- Rick Di Mascio, Founder and Chief Executive Officer, Inalytics
- Bei Saville, CFA, CAIA, SVP, Senior Client Investment Officer Northern Trust Asset Management
- David Wilson, MD, Head of Institutional Solutions Group, Nuveen Investments
- Tom Brakke, Principal, tjb research
- Northern Trust Asset Management (Lead Asset Management Advisor)
- Fund Evaluation Group
- MJ Alternative Investment Research
- Christopher Holt
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