What's included

Our PE secondaries diligence checklist covers the critical workstreams for evaluating fund investments:

  • Fund Documents — LPA review, side letters, fund amendments, transfer consent requirements, management company documentation
  • Financial Analysis — Quarterly financial statements, NAV methodology, capital call history, distribution waterfall, fee and carry reconciliation
  • Portfolio Review — Portfolio company financials, valuation support, industry positioning, management team quality, exit readiness
  • GP Assessment — Track record, team stability, key person risk, investment process, successor fund status
  • Legal & Compliance — Fund formation jurisdiction, regulatory filings, litigation, ERISA and tax considerations, ROFR
  • Operational Due Diligence — Fund administrator, service provider quality, operational controls, cybersecurity, ESG policies

Customize by strategy

Add strategy-specific diligence items based on your transaction type:

  • Buyout funds — Operational value creation, debt capacity, exit markets
  • Growth equity — Revenue growth metrics, product-market fit, competitive positioning
  • Venture funds — Portfolio company staging, follow-on reserves, syndicate dynamics
  • Credit funds — Loan documentation, covenant compliance, default analysis
  • Real estate funds — Property valuations, lease structures, market conditions
  • Infrastructure funds — Regulatory environment, contract terms, operational metrics

Generate your checklist

Coming soon: Interactive checklist builder with 200+ items, export to CSV, and Omega auto-population from uploaded fund documents.

→ Request custom checklist
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