Due Diligence Matters - February 2026 Bulletin
perfORM is an award-winning, international (UK, Switzerland, USA and UAE) and standalone Operational Due Diligence solutions provider with 150+ years of collective ODD experience.
The ‘ORM’ in perfORM stands for Operational Risk Mitigation.
Our clients are global and diverse, including Investment Managers, Allocators (e.g., Family Offices/Multi-Family Offices, Private Banks, Wealth Managers, Funds of Funds, Asset Managers, Pension Funds, Endowments, Foundations), Third Party Service Providers and Sports Teams.
Please contact us if you would like to discuss 2026 support, or to receive sample ODD Reports, thank you.
Please click here to watch our new video which introduces perfORM and each of our of core ODD services.
ODD Reflections
Of the c.170 Investment Manager ODD reviews conducted in 2025, most were Allocator On-Demand ODD, accounting for 92%. 50% of Investment Manager ODD reviews were for SMAs, continuing the trend for these more customisable and transparent vehicles. Private markets vehicles comprised 38% (compared to 34% in 2024), while public markets constituted 62% (compared to 66% in 2024).
In terms of jurisdictional coverage, 2025 saw a higher focus on investment managers in the US and the UK, with nearly 80% of investment managers based in these locations. This reflects a 20% overall increase, primarily driven by UK managers, whose share rose from 24% in 2024 to 38% in 2025. EMEA and Asia accounted for 17% of all reviews.
In public markets, besides traditional equities, which remained the most popular asset class (71%, compared to 61% in 2024), the second largest group was digital assets / crypto at 12% (17% in 2024).
In private markets, we experienced a continued focus on venture capital investments at 44% compared to 40% in 2024.
While the number of Service Provider reviews was similar year-on-year, the proportion represented by Digital Asset Service Providers increased by 50% in 2025, which was indicative of the generally increased focus on the operational framework within which digital asset funds operate.
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: MARK Capital Management LP – please contact here to request access to our January 2026 dated ODD Report
Investment Manager: 24 Capital Management Ltd – please contact here to request access to our January 2026 dated ODD Report
Investment Manager: Temple Capital Management, Ltd – please contact here to request access to our December 2025 dated ODD Report
Investment Manager: Noble Capital Management (NCM) SA – please contact here to request access to our December 2025 dated ODD Report
Investment Manager: Edge Capital Investment Management, LLC – please contact here to request access to our December 2025 dated ODD Report.
Digital Asset Service Provider: Liquidity Technologies Inc – please contact here to request access to our November 2025 date ODD Report
Investment Manager: Redhedge Asset Management, LLP – please contact here to request access to our July 2025 dated ODD Report.
Digital Asset Service Provider: Copper Technologies (Switzerland) AG – please contact here to request access to our June 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 – UNDERGOING RENEWAL PROCESS
Investment Manager: GrandLine Investment Management Ltd – please contact here to request access to our March 2025 dated ODD Report
Investment Manager: Spectra Capital, LLC – please contact here to request access to our March 2025 dated ODD Report
Investment Manager: Gemcorp Capital Management Limited – please contact here to request access to our two ODD Reports
Investment Manager: Hivemind Capital Partners UK LLP – please contact here to request access to our two ODD Reports – UNDERGOING RENEWAL PROCESS
Investment Manager: Fasanara Capital Limited – please contact here to request access to our July 2024 dated ODD Report – UNDERGOING RENEWAL PROCESS
Investment Manager: Eltican Asset Management SAS – please contact here to request access to our July 2024 dated ODD Report
Investment Manager: Coral Cove Capital Ltd – please contact here to request access to our January 2024 dated ODD Report