Due Diligence Matters - July 2025
perfORM is an award-winning, international (UK, Switzerland, USA, UAE and Asia) and standalone Operational Due Diligence solutions provider with 150+ years of collective ODD experience. Over 300 operational due diligence reviews have been completed since the start of 2023.
The ‘ORM’ in perfORM stands for Operational Risk Mitigation. Please contact us if you would like to discuss our services, or to receive sample ODD Reports, thank you
Client Spotlight
In this month’s e-bulletin we spotlight one of our Investment Manager ODD Report Solution clients, Redhedge Asset Management, LLP (“Redhedge”). We have just completed our ODD report refresh and reissue process.
The client: Redhedge specialises in fixed income and alternative credit strategies. London based and structured as a Limited Liability Partnership, Redhedge was originally founded in November 2014 as Triple AM LLP which managed proprietary capital before expanding into asset management in 2015 through the launch of an internally seeded commingled fund vehicle which followed a long/short relative value strategy. Redhedge was renamed in 2019 and is now jointly controlled by Andrea Seminara, who is the CEO/CIO, and Stefano Giorgetti, who joined in 2016 and is the Firm’s COO.
The product: a pragmatic solution for investment managers to engage perfORM to complete an ODD review. The resulting ODD report is made available to all their chosen clients and prospects, significantly reducing the amount of time spent managing inbound due diligence requests.
A journey of ODD: Our first engagement with Redhedge was in early 2024 when we provided another one of our services, ODD Therapy – ODD consulting to help prepare managers for an efficient and successful allocator-led ODD review process. Based on a targeted desktop and in person mock-style ODD review process, we provided (both verbal and via written memorandum) detailed findings and recommendations from the perspective of institutional allocators and operational best practices.
As a result of ODD Therapy, Redhedge were well prepared for operational due diligence reviews by, or on behalf of, allocators – one of whom then commissioned us (knowing we had previously delivered Therapy) to perform an ODD review in the middle of 2024. As we were now already familiar with Redhedge (including investment manager and fund level documentation) this made the ODD review process more efficient for all parties.
In September 2024, Redhedge pro-actively opted for our collaborative and progressive ODD Report Solution culminating in an Investment Manager and Fund level ODD Report. Our latest ODD Report is available to Redhedge’s chosen clients and prospects (free of charge and via secure download from our technology portal), significantly reducing the amount of time spent managing inbound operational due diligence requests. Our 60+ page ODD Report reflects a full scope review process, in terms of format, depth and verifications and includes (entity and individual level) background checks.
Andrea Seminara, Redhedge CEO/CIO said: “At Redhedge, we firmly believe that sustainable success in asset management starts with building on solid, resilient foundations. We place the highest value on strong infrastructure and robust processes that we continuously monitor and refine. perfORM has supported our commitment to maintaining the highest operational standards, ensuring we can grow our business with confidence and transparency while delivering the excellence our clients expect.”
A risk management and client focused approach: We don’t award a ‘pass’ or ‘fail’. Instead, we provide a high/medium/low risk assessment of the operational framework in order to enable the client to focus on the most important aspects for improvement; our clients only complete a factual accuracy check of our ODD Report before it is issued.
Where possible and additive, perfORM will complete an onsite visit. However, our review process is significantly less onerous and time-consuming than a data-heavy, sample-based controls-type audit. The ODD process is relatively simple and quick to implement and maintain, and it is also cost-effective. Clients can benefit while continuing to focus on what matters most: growing business. We know they are busy.
For the client, our ODD Report is designed to help meet the operational due diligence demands of allocators in a proactive, efficient and impactful way, significantly reducing the amount of time spent managing inbound due diligence requests and fast-tracking the operational due diligence process. Further, it helps allocators complete their work more efficiently and less onerously thanks to receiving a detailed ODD report on day one. Many are stretched with regard to time and resources and appreciate this practitioner-led solution. Finally, it is a very impactful demonstration of the client’s institutional ‘readiness’ and willingness to reach, and remain at, operational best practice.
This solution does not replace all inbound ODD: However, it really does help make for a happier, healthier and longer, allocator / Investment Manager relationship.
More and more allocators are asking for our help with operational monitoring of their portfolios; how compelling it would be to say this is already covered and an ODD Report is available instantly, without cost.
ODD is a highly visible demonstration of transparency. Upon request, we announce completed reports below (and on our website and LinkedIn group page) and direct queries to the client who can provide a link to our report at their discretion. Further, clients get a (month / year dated) perfORM logo to use on marketing materials, website etc.
Please contact us or Redhedge to discuss accessing our July 2025 dated ODD Report.
ODD Report Solution
Our ODD Report Solution is not just another tick in a box, it is a fast growing and innovative approach to operational due diligence. A pragmatic solution for Investment Managers and Service Providers which engage us to complete an ODD review.
“We believe in operational excellence, doing things ‘the right way’ and holding ourselves accountable for delivering institutional-grade asset management. Working with perfORM to review our processes thoroughly is key to ensuring our investors have independent insight, understanding, and confidence in how we manage their assets. We appreciate the perfORM team’s forensic review of our documentation and processes and look forward to collaborating again” – Investment Manager ODD Report Solution client
Investment Manager: Redhedge Asset Management, LLP – please contact here to request access to our July 2025 dated ODD Report
Investment Manager: Hyperion Decimus, LLC – please contact here to request access to our June 2025 dated ODD Report.
Investment Manager: MNNC Advisors (Cayman) SEZC – please contact here to request access to our June 2025 dated ODD Report
Investment Manager: GrandLine Investment Management Ltd – please contact here to request access to our March 2025 dated ODD Reports
Investment Manager: Spectra Capital, LLC – please contact here to request access to our March 2025 dated ODD Reports
Investment Manager: Gemcorp Capital Management Limited – please contact here to request access to our January and March 2025 dated ODD Reports
Investment Manager: Hivemind Capital Partners UK LLP – please contact here to request access to our January and April 2025 dated ODD Reports
Investment Manager: 24 Capital Management Ltd – please contact here to request access to our December 2024 dated ODD Report
Investment Manager: MARK Capital Management LP – please contact here to request access to our December 2024 dated ODD Report
Investment Manager: Edge Capital Investment Management, LLC – please contact here to request access to our September 2024 dated ODD Report. UNDERGOING RENEWAL PROCESS
Investment Manager: Fasanara Capital Limited – please contact here to request access to our July 2024 dated ODD Report
Investment Manager: Eltican Asset Management SAS – please contact here to request access to our July 2024 dated ODD Report
Digital Asset Service Provider: Copper Technologies (Switzerland) AG – please contact here to request access to our April 2024 dated ODD Report. UNDERGOING ANNUAL RENEWAL PROCESS
Investment Manager: Coral Cove Capital Ltd – please contact here to request access to our January 2024 dated ODD Report
Investment Manager: Wincent Capital Management Limited – please contact here to request access to our September 2023 dated ODD Report. UNDERGOING ANNUAL RENEWAL PROCESS