1 Firm Overview

0/6

Provide a brief history of the firm, including founding date, key milestones, and evolution of investment strategy. What is the firm's current AUM across all funds and strategies? Describe the firm's organizational structure, including parent entities, affiliates, and any joint ventures. List all office locations and the number of investment professionals at each. What is the firm's current regulatory status and with which authorities is it registered? Provide an organizational chart showing reporting lines and key decision-making roles.

2 Investment Strategy

0/8

Describe the fund's investment strategy, including target sectors, geographies, and deal types. What is the fund's target return profile (gross IRR, net IRR, MOIC)? What is the typical deal size range and how many investments do you target per fund? Describe your sourcing process and competitive advantages in deal origination. What is the expected hold period for investments? How does the fund approach value creation post-investment? Describe the fund's approach to ESG integration and responsible investing. What are the key risks to the strategy, and how does the fund mitigate them?

3 Track Record & Performance

0/6

Provide gross and net performance for all prior funds (IRR, MOIC, DPI, RVPI). How does performance compare to relevant benchmarks and peer group? Provide deal-level attribution showing top and bottom contributors to returns. What is the ratio of realized to unrealized value in current funds? Describe any investments that resulted in a total or significant loss, and lessons learned. How are unrealized investments valued, and what valuation methodology is used?

4 Team & Organization

0/5

Provide biographies of all senior investment professionals, including years of experience and track record. Describe the team's succession plan and key person provisions. What is the compensation structure for investment professionals (base, bonus, carry allocation)? Describe any team departures in the last 5 years and the reasons. Does the firm have an advisory board or operating partners? If so, describe their roles.

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5 Risk Management

0/6

Describe the firm's risk management framework and governance structure. What portfolio concentration limits are in place (by sector, geography, single position)? How does the fund approach currency, interest rate, or other market risk hedging? Describe the fund's liquidity management approach and any reserve policies. How does the firm conduct stress testing or scenario analysis? What compliance monitoring and reporting processes are in place?

6 Operations & Infrastructure

0/5

Who is the fund administrator, and what services do they provide? Name the fund's auditor and describe the audit process and timeline. Who serves as legal counsel to the fund and the GP? Describe the fund's custodian arrangements and asset safeguarding practices. What technology systems are used for portfolio monitoring, reporting, and investor communications?

7 Legal & Compliance

0/5

List all regulatory registrations and licenses held by the firm. Describe any current or past litigation, regulatory actions, or investigations involving the firm or its principals. How does the firm identify and manage conflicts of interest? What is the firm's policy on side letters, and what types of terms are typically granted? Describe the fund's co-investment policy and process.

8 Terms & Fees

0/4

What is the management fee structure (rate, basis, step-downs)? Describe the carried interest terms, including hurdle rate, catch-up, and clawback provisions. What are the key person provisions and consequences of a key person event? What is the fund term, including any extension provisions?

About This DDQ Template

This DDQ template covers the standard categories institutional LPs evaluate during fund due diligence. Questions are based on ILPA guidelines and common institutional investor requirements. Customize questions based on your strategy, fund structure, and LP requirements.

For a deeper look at what each question means and how to answer effectively, see our Due Diligence Questionnaire glossary entry.

This template is for preparation and planning purposes. Actual DDQ responses should be reviewed by your legal counsel and compliance team before submission to institutional investors.

About This DDQ Template

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