Operational Due Diligence in Private Equity: A Practitioner's Guide to Assessing Managers, Mitigating Operational Risk, and Building an Institutional (Paperback) (ISBN-13: 9798187339624)

Most private equity funds that fail do not fail because someone picked the wrong deal. They fail because of how the fund was run - commingled cash, unchecked valuations, an overwhelmed finance function, a service provider that existed only on paper. Operational due diligence is the discipline that finds these problems before they cost investors everything.

Operational Due Diligence in Private Equity is a complete, practical guide to the work allocators do when they look past the track record and examine how a fund is actually run. It is written for the professionals who protect institutional capital: ODD analysts, investment teams, fund-of-funds and consultant staff, family offices, and the fund managers who must satisfy them.

Across fifteen focused chapters, you will learn how to:

• Build a repeatable review framework and rating model
• Assess firm ownership, governance, and key-person risk
• Read fund legal documents and expense practices with an operational eye
• Evaluate the finance function, administration, custody, and cash controls
• Test valuation governance in illiquid assets
• Scrutinize auditors, compliance, cybersecurity, and business continuity
• Run an on-site visit, write the report, and monitor the manager over time

With realistic examples, common mistakes, practitioner's tips, a master questionnaire, a red-flag register, and a new-analyst action plan, this is the guide the field has needed - whether you are entering operational due diligence or sharpening a program you already run.