Castle Hall Launches Due Diligence Monitoring Platform

Apr 27 2015 | 10:19am ET

Castle Hall Alternatives has announced the launch of its OpsMonitor due diligence platform. 

The platform's features include daily media monitoring, a comprehensive process to identify changes in manager and fund operational risk quarter to quarter, and interactive dashboards to identify risks present in fund annual financial statements.

“Castle Hall is excited to introduce a range of powerful new monitoring functions to OpsDiligence, our online diligence system,” said Castle Hall CEO Chris Addy. “Due diligence has evolved: rather than wait for traditional, annual diligence meetings, investors increasingly recognize the value of ongoing monitoring to identify and react to potential operational risks in real time. With regularly updated operational risk information, investors can monitor risk and better calibrate their diligence programs across different asset classes and types of manager."

OpsMonitor begins with daily media monitoring. Castle Hall’s team curates news feeds to remove false positives and duplicates that clog standard internet searches. Media alerts are then delivered automatically to each member of an investor’s portfolio, risk, compliance, and diligence teams.

On a quarterly basis, Castle Hall uses proprietary questionnaires to update key manager and fund data points and identify operational and business changes across every third party investment. The results of the monitoring process are delivered via update Alerts at the individual fund level and through dashboards showing status across the entire portfolio.

Investors can instantly see if their funds are “in the green”, or if yellow or red flags have been identified during the most recent quarterly monitoring process.

The platform also provides auditing support.

“OpsMonitor now offers investors interactive dashboards to identify potential financial reporting risks,” said Anne Coady, Castle Hall’s Managing Director. “Dashboards highlight OpsMonitor Alerts across 10 categories, including identity of the auditor, whether the audit is qualified and issued on a timely basis, and whether the fund and underlying master fund has a high expense ratio, high leverage, or high allocations to hard to value, level 3 assets”.

“At its heart, OpsMonitor is a risk management tool,” said Addy. “With better monitoring and flexible, real time risk dashboards, OpsMonitor helps investors spend 80% of their time budget on investments which may have operational diligence issues – not spend 80% of their time getting to those 20%.”

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