BearingPoint offers due diligence and valuation Services to hedge fund investors
27 October 2004 | 1684 views | 0
BearingPoint, Inc. (NYSE:BE), one of the world's largest business consulting and systems integration firms, today announced that it will begin offering hedge fund investors due diligence and valuation services through BearingPoint's Alternative Investment Services and Valuation Services practices. BearingPoint will also offer proactive services to hedge fund managers who wish to improve their operations, technology, controls, and valuation procedures.
"Offering our due diligence services and valuation capabilities to hedge fund investors comes as the industry faces greater attention on registration and compliance issues," said Christopher Formant, BearingPoint's Executive Vice President, Financial Services. "The timing of these services offerings demonstrates how BearingPoint can work with investors, fund managers and fund- of-funds managers to develop tailored solutions to address current industry issues."
Stuart Feffer and Christopher Kundro, managing directors with BearingPoint and co-leaders of the firm's Alternative Investment Services and Brokerage & Securities Servicing groups, will work with BearingPoint's Valuation Services group to offer the services to institutional investors in hedge funds, as well as managers themselves. Kundro and Feffer will also continue to offer specialized management and technology consulting services focused on key segments as alternative investment services, brokerage and securities servicing.
"The current focus on requiring hedge funds to register shows a level of concern out there," said Kundro. "Institutions are seeking such services to help manage the operational risks sometimes associated with hedge fund investments."
Feffer noted that issues related to valuation - the determination of fair market value for all the positions that make up a fund - underlie many of the operational risk factors facing hedge funds.
"BearingPoint will work with hedge fund managers on operational infrastructure issues to help them focus on better controls and technology," said Feffer. "And we will work with investors to design due diligence programs and to conduct due diligence on potential fund investments."
BearingPoint's Alternative Investments group works with fund managers, allocators, distributors, investors, prime brokers, and administrators on a variety of operations, technology, control, and infrastructure issues, including infrastructure assessment, due diligence, new fund set-up, market studies for service providers, and ongoing research.
The Valuation Services group has been in existence for more than 25 years, providing services to many of the largest financial services firms. Those services include valuations of derivatives, emerging market securities, private equity, intangible assets, intellectual property, equity, and debt instruments. The group has professionals located in the U.S., Europe and the Far East.
At BearingPoint, Kundro and Feffer continue their 10-year association through the Alternative Investment Services and Brokerage & Securities Servicing groups by helping financial institutions develop business strategies for new products, expand existing business and improve their operational infrastructures, including operations, technology and business controls. Their past experience includes working with leading financial services companies to develop business strategies in product areas such as hedge funds, asset management, retail brokerage, prime brokerage, global custody, correspondent clearing, research, economics, and securities lending.