Form ADV, Parts I and II (if applicable) – determine educational background, past violations or deficiencies and how business is conducted and client accounts reviewed
Confidential Private Placement Memorandum – Requires careful review. DO NOT ASSUME THAT THE INFORMATION CONTAINED IN THE PLACEMENT MEMORANDUM IS COMPLETE OR NOT MISLEADING. Compare the offering materials to interviews with principals, control persons and key employees (e.g. key employee disclosure, use of soft dollars, conflicts of interest). Look at when the documents were drafted and whether the business has evolved since that date.
Limited Partnership Agreement/Limited Liability Company Agreement/Investment Management Agreement
Request a list of all licenses received and dates conferred (Such information is also provided in the Form ADV)