Castle Hall Alternatives, a provider of operational due diligence, has launched HedgeDiligence, a web portal delivering due diligence information to the firm's clients.

The firm has also reached the milestone of 500 operational due diligence reviews.

Chris Addy, Castle Hall's president and chief executive, says: 'Our team is delighted to have completed our five hundredth due diligence review. Experience and judgment are critical when conducting effective due diligence, and Castle Hall's fully independent due diligence process has now been applied to funds worldwide across the full spectrum of strategies and structures.

HedgeDiligence will allow clients to access short and long form due diligence reporting, as well as view and search key operational metrics related to each fund in their portfolios, from a central, secure portal.

Post Madoff, Castle Hall has experienced a new level of awareness from hedge fund investors related to operational risk issues.

'Investors have realized that effective operational due diligence is now mandatory, not optional,' says Addy. 'We believe our experience across what is now a very large number of funds, together with the flexibility and ease of use of HedgeDiligence, will help investors better understand and assess operational risk at each stage of the investment process.'