HOW WE WORK
ODD Designed for Decisions, Not Just Delivery.
Institutions organise Operational Due Diligence in different ways — some outsource most of the function, some maintain dedicated internal teams, others manage it through investment, risk or governance functions
ACROSS EVERY MODELLestrade is designed to add value in each model: as a complete specialist capability, an extension of an internal team, or the specialist judgement layer behind an investment-led approach.
The objective is the same in every case:
Reliable, usable judgement that supports confident delegation and effective manager oversight.
HOW LESTRADE FITS YOUR ODD MODELThe role we play depends on the capability you already have.
01 OUTSOURCED ODDA Specialist ODD capability
You Can Rely On
For institutions that outsource most or all manager ODD, Lestrade can provide a complete specialist ODD capability across public and private markets. You gain the depth, capacity and calibration of a dedicated specialist function without having to build and maintain one internally. We combine rigorous execution, consistent judgement, predictable delivery and reporting that fits your governance.
CLIENT VALUE
Specialist capability • scalable capacity • consistent judgement • lower internal burden
02 IN-HOUSE ODDWe Make Your Existing ODD
Capability Stronger
For institutions with dedicated ODD professionals, Lestrade works as an extension of the internal team. You retain ownership. We add flexible capacity, specialist depth, independent challenge and external calibration where they create most value — helping your team cover more, handle complex cases and strengthen its own judgement without adding permanent capacity
CLIENT VALUE
More capacity without losing ownership • specialist depth • independent challenge • external calibration
03 INVESTMENT-LED ODDWe turn operational complexity into judgement you can actually use.
For institutions where ODD sits with investment, risk or governance teams rather than a dedicated ODD function, Lestrade provides specialist analysis and judgement without requiring you to build an ODD function. We reduce complexity to what matters, how significant it is, how confident the conclusion is and what deserves ongoing attention — giving decision-makers confidence today and clear oversight priorities tomorrow.
CLIENT VALUE
Specialist judgement without building a function • reduced complexity • delegation confidence • clear oversight priorities
FROM RIGOROUS ODD TO USABLE JUDGEMENTThe Purpose of ODD is Not to Produce a Report. It is to form a reliable judgement about whether a manager’s operating model provides a sufficiently robust basis for delegation — and what requires continued attention.
Rigorous ODD
Integrated Judgement
Traditional topical ODD establishes how the manager operates and identifies manager-specific risk across governance, operations, compliance, technology, investment processes, service providers, financial resilience and other relevant areas.
Structural ODD adds an integrative layer. It connects observations across the organisation to identify wider mechanisms, dependencies and operating assumptions, helping turn a large body of analysis into a manageable overall assessment with actual meaning
Effective Oversight
We do not stop when the report is delivered. We normally discuss the assessment with the client, explain the judgement behind the conclusions, and identify what matters for decision-making and ongoing manager oversight.
The report is a tool. The value is the judgement the client can use.
SERVICES
Support across the manager engagement lifecycle
01Operational Due Diligence Reviews
Independent, in-depth ODD supporting confident manager selection and periodic reassessment across public and private markets.
02Ongoing Monitoring
Structured review of material developments to assess whether the existing ODD judgement remains valid and where further attention is required.
03Bespoke Reviews
Targeted ODD when significant change, incidents or specific governance questions require focused investigation and independent judgement
Designed to fit your organisationHigh-quality ODD should strengthen your governance without creating another process to manage. Lestrade integrates into existing institutional processes and adapts the role we play to your operating model — providing complete capability, targeted reinforcement or specialist judgement where it creates the most value.
Existing reporting formats
Investment Committee requirements
Governance frameworks
Client workflows
Communication preferences
Delivery planning
Calm Intelligence for a Complex Investment World
Calm Intelligence for a Complex Investment World
What to expectReliable Judgement
Structured, evidence-led conclusions that distinguish residual risk from confidence in the evidence.
Specialist Independence
Operational Due Diligence is our exclusive focus. Our judgement is independent and manager-specific.
Practical Execution
Designed around existing institutional processes and governance.
Low-friction Collaboration
Clear communication, predictable delivery and professional manager interaction.
A straightforward process
Define objectives and scope
01Understand the manager and gather evidence
02Analyse, integrate and calibrate the judgement
03Report, discuss and transfer the judgement
04Carry the relevant conclusions into ongoing oversight
05Discuss your ODD setup
Whether you want to outsource ODD, strengthen an existing internal team, or add specialist ODD judgement to an investment-led model, we would be pleased to discuss where Lestrade can create the most value in your current setup.
Calm Intelligence for a Complex Investment World
Calm Intelligence for a Complex Investment World