Exiger, Castle Hall Alternatives partner to leverage fintech for due diligence services

Exiger, a global compliance, investigations and technology company, has partnered with Castle Hall Alternatives to bring fintech expertise to deliver next generation due diligence services to investors worldwide.

Exiger’s DDIQ online investigative platform combines with the Castle Hall’s award winning operational due diligence, to create a new standard of diligence capacity.

“Our combined services provide innovative, effective solutions to support investors’ workflow at each stage of the operational due diligence process. Whether screening potential managers, onboarding new funds, or monitoring the existing portfolio of external manager relationships, Exiger and Castle Hall offer new and enhanced, tech-enabled diligence solutions,” Arun Banerjee, Managing Director at Exiger New York, stated.

Exiger and Castle Hall have combined the traditional background check with “trust but verify” ODD procedures at the onboarding stage, in order to create an innovative due diligence tool called ‘OpsVerification’.

During the monitoring stage, Castle Hall’s OpsMonitor service that already covers significantly more than 500 fund entities, is now enriched with Exiger ongoing background investigations. OpsMonitor offers investors with financial statement analysis, form ADV review and media monitoring.

“Both Exiger and Castle Hall are tremendously excited by the potential of our partnership” said Banerjee. “Operational Due Diligence is not ‘business as usual’. As investors extend ODD procedures across their full portfolios, incorporating private equity, real estate and long only asset managers, consistent, auditable diligence workflow is critical. Exiger and Castle Hall offer, in combination, a New Standard to support investors’ governance, risk and compliance needs when managing their due diligence programs.”