Due Diligence Questionnaire
The INREV Due Diligence Questionnaire (DDQ) was first launched in April 2007, to assist an investor or consultant in the due diligence process to understand relatively quickly (1) a fund manager’s structure, strategy and non-listed real estate business and (2) a specific vehicle’s strategy, risk processes, management, terms and (projected) performance in order to allow the investor to determine, in principle, whether a proposal fits the investor’s investment objectives. The DDQ was updated in 2010, but as the non-listed real estate market is evolving, the questionnaire has been updated again in 2014.
There are three versions of the DDQ. One addresses managers of non-listed real estate investment vehicles, the second is specifically for fund of funds and multi-managers, and the third for debt funds.
Latest publications: DDQ Debt Funds - Sep 2014, DDQ Fund of Funds - updated Sep 2014, DDQ Non-Listed Real Estate Vehicles - updated Sep 2014
- Tool - Due Diligence Questionnaire Real Estate Debt Vehicles
- Tool - Due Diligence Questionnaire Fund of Funds and Multi-Managers
- Tool - Due Diligence Questionnaire Non-Listed Real Estate Investment Vehicles
- Tool - Due Diligence Questionnaire Non-Listed Real Estate Investment Vehicles- Japanese
Other Due Diligence tools - updated Sept 2016
To help members further improve and streamline their due diligence process, INREV has developed two new standardised template: the Operational Due Diligence Framework and the Due Diligence Data Room Guidelines.
Operational Due Diligence Framework
The discipline of operational due diligence has become more prominent for investors since decision making is no longer based solely on investment performance alone but also on the risk of operational failure. It is also hard to standardise the process as it is in the mainly driven by local jurisdiction. The Operational Due Diligence Framework provides a general framework to help buyers and sellers better organise their operational due diligence process.
Operational Due Diligence Data Room
A Due Diligence Data Room is an online way for fund managers to transparently and efficiently share information with investors during the fund raising process. A well-structured and standardised data room will draw attention to the best attributes of the investment vehicle and can make the process more efficient for fund managers to report and for investors to find the information. The Due Diligence Data Room Guidelines is a framework to provide guidance on how to structure and set up a data room for disclosure of documents.