What do you hate the most about second round diligence?
I am so tired of working with Private equity funds and failed diligence process....I've been in 10 first round diligence and 7 2nd round diligence and all failed...
Do you guys ever feel overwhelmed by the volume of information in a dataroom? How do you handle it? This 'Partner' asked our bank to make sure that someone from our team reviewed all files and that someone was 'me'...there were 5,000+ files lol
Approximately what proportion of documents in your datarooms do they actually even use for investment decisions? It's always the same 10 versions of board deck with misleading information...'One source of truth' isn't even a thing for most corporates
anyone?
bump
Will second that there are only ever like 10 useful files.
lol I am in a sweaty group - one of the PE partners once told me to make sure that someone from the advisory team reviewed all 'files' in a dataroom and we didn't 'miss' anything...and I was that schmuck
Ever run into trouble finding or citing stuff in a dataroom?
Always hated second round.
If it helps, my approach from the sellside has been to view things with the lens of (a) does this info impact value and (b) does it bring in any deal risk. Requires a bit more in depth reading but of far far fewer docs.
Well at least you were thoughtful to spend time to set it up the right way. I was recently in a process and the sell side advisors uploaded files that weren't relevant. They managed to upload the 'right' files only 2 days before the bid deadline....
Also, hate it when new files are uploaded! Intralinks notification system isn't great when they dump a lot of files
Do you think there is a better way to do this, whether it's scouring through the files or managing the buy-side/sell-side information requests?
Third party advisors (FDD/legal/environmental/IT yadayada) will comb through most of the files. The core "data analysis" / commercial DD files are usually some version of the customer/product level data cube.
Let me guess you are in PE? Lol I bet it's not easy for anyone - third party advisors probably have their version of the 'most relevant' documents. If you were in IB, did you find it super annoying to keep track of all the files?
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