Few hedge fund industry veterans have joined forces to launch The Hedge Fund Due Diligence Exchange (HFDDX) to provide new and experienced investors both forensic-style due diligence reports and a substantial cost saving.
The first exchange of its kind, HFDDX’s launch coincides with a resurgence of interest in hedge fund investments and an abundance of caution on the part of investors.
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HFDDX meets this demand by offering members a web-based marketplace to anonymously match their needs with others. When two or more members seek due diligence on the same fund, costs can be reduced by one-half to two-thirds, encouraging cost-conscious investors to avoid cutting corners or forego the in-depth review they need to make informed investment decisions.
Robert Krause, managing principal, said: "Investors benefit by getting the highest quality due diligence, while being able to defray some of the expense; investment managers will benefit by saving review time; and the industry will benefit by increasing best practices."
Henry Watkinson from Headstart Advisers in London, said: "The key principals have deep experience and a thorough process. I think this new model is a game-changer. It is a way to maintain high standards and yet reduce the cost associated with custom work.
"As more investors jump on the platform, the number of matches increases and the costs decrease," Watkinson added.
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