Rogers’ Kennedy calls for COO investment veto

Operational due diligence may have gained greater attention in the post-Madoff era, but Rory Kennedy believes this non-investment function deserves a more influential role: namely the power of veto in an investment committee. “In the past, operational due diligence was an after-thought or a rubber-stamp part of investing in hedge funds, as investors spent 75% of the time on investment due diligence and risk management before the Lehman Brothers crisis,” recalls the chief operating…