With the most sophisticated pre-transaction due diligence capacity, Blackpeak has become a premier provider of complex due diligence work.

Blackpeak is the industry leader in complex investigative due diligence – the discreet gathering and analysis of information to identify and assess undisclosed risks.

We routinely conduct in-depth research and analysis on due diligence matters for deals including mergers and acquisitions, public listings, and business joint ventures for investment banks, private equity funds, and law firms.

With local-language analysts, field investigators, and experienced case managers, we are experts in the identification and assessment of undisclosed risks – whether reputational, operational, legal, regulatory, or financial.

Pre-IPO Due Diligence

Blackpeak is Asia’s leading provider of pre-IPO due diligence to investment banks. Working with our clients’ deal execution and compliance teams according to stringent tasking and challenging timetables, Blackpeak’s work for pre-IPOs entails detailed analysis of listing companies, reputational and ethical inquiries relating to directors, senior management, shareholders, customers and suppliers, and the identification and assessment of any material risks. We have successfully completed pre-IPO assignments for major listings in Hong Kong, Singapore, India, the United States, Malaysia, and the United Kingdom.

Private Equity Due Diligence

We help clients evaluate risks associated with potential investments, such as fraud, corruption, or operational issues related to the target company, its owners, and management. As part of the due diligence process, we also assess the reputation and management style of the company’s leadership as well as the management’s experience working with external stakeholders. We also conduct post-acquisition investigations for private equity clients on their portfolio companies to assist in evaluating potential risks and issues such as poor financial performance and potential related party transactions.

M&A Due Diligence

We evaluate risks relating to proposed investments including disguised business activities, transactions or stakeholders, through reputational or financial issues, to fraud and corruption. We undertake risk assessment and mitigation designed to identify potential pre- and post-investment problems quickly and effectively. Our clients include private equity firms, hedge and alternative asset funds, banks, law firms, and corporations. M&A due diligence may be performed both on the acquiring company and on the acquired entity.

Business Partner Due Diligence

We help our clients manage the risks that may arise from their business relationships with third parties. These risks include 1. reputation risk – business ties may be subject to negative publicity that affects the client, 2. compliance risk – when the third party’s operations may not be in compliance with the law or the client’s internal policies, and 3. transaction risk – when the third party may not be able to deliver the services promised.

An effective business partner due diligence helps our clients screen their third parties in a cost-effective way through a standard 2-step approach: public records screening and verification of disclosed information to the client, including evaluating the source of the business partner’s wealth. We regularly perform wealth checks and asset searches for our law firm clients.

Compliance-Driven Due Diligence

For clients who mainly have regulatory concerns about their third parties, we offer streamlined, compliance-focused research to assess issues such as sanctions risk, anti-money laundering, bribery, and corruption. This type of due diligence may also include research into any undisclosed political connections of the third parties. In such cases, discreet source inquiries can be crucial to uncovering any political backing that may not be publicly known. We can also examine shareholding structures to trace back how much of the company’s stocks may be held by state-owned enterprises.

Case Studies

See some recent examples of how we’ve helped clients understand and evaluate

A consortium of international banks engaged Blackpeak to conduct pre-IPO due diligence on a company with international operations. The scope of work included research into the target company’s main operations, key subsidiaries, board of directors, management and key shareholders. Blackpeak detected and put into context integrity issues that would be of concern to the stock exchange. The company made adjustments that satisfied the banks, replacing a key director, and the listing proceeded successfully.

A private equity client asked Blackpeak to verify key supplier and customer relationships of a packaging company to confirm the top suppliers and customers were not related parties to the CEO of the subject company. Additionally, we were asked to devise a methodology for corroborating reported revenue related to these parties. Our investigation included in-depth public records analysis, relationship mapping and dozens of discreet phone calls with the company’s business partners. Ultimately, our investigation concluded that the company’s key customers and suppliers were genuine third parties, and that their sales volume with the subject company generally matched what had been reported to our client.

Blackpeak was engaged by a global investment bank to conduct a due diligence investigation on a listed company in relation to a takeover. The company was a diversified firm with investments in real estate and medical services. Our research included meticulous research to unravel a controlling shareholder’s litigation history. Additionally, we provided the client critical context for several separate lawsuits that some of the subjects were involved in. The information we provided allowed the client to navigate the transaction successfully.