# kaal:claim:2811718-039

**Claim.** Investment due diligence may start from the same basic questions as operational due diligence but is almost always idiosyncratic, because it targets the subject manager's investment process, which is typically unique to that manager.

**Type.** mechanism  **Support.** argued

**Holds when.**

- investment due diligence as distinguished from operational due diligence

**Source quote.**

> In contrast, while investment due diligence may start with the same set of basic questions, it is almost always an idiosyncratic process, because it is focused on the subject manager's investment process, which typically is unique to that manager.

**From.** Wulf A. Kaal, *Private Fund Investor Due Diligence – Evidence from 1995 to 2015* (2016), II. Private Fund Investor Due Diligence, page 13

**Cite as.** Wulf A. Kaal, Private Fund Investor Due Diligence – Evidence from 1995 to 2015 (2016). SSRN: https://ssrn.com/abstract=2811718

**Verify.** sha256 of source PDF `b52152af561288173840a1cabbcf8f4b337e73507c856ee01600799073f4156f` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202016%20-%20Private%20Fund%20Investor%20Due%20Diligence%20%E2%80%93%20Evidence%20from%201995%20to%202015.pdf

**Topics.** institutional-design

**Keywords.** investment-due-diligence, operational-due-diligence, standardization-limits, manager-specific

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