Which of the following is NOT a stage in the due diligence process?

The due diligence process is a critical component in evaluating potential investment opportunities, particularly in the realm of alternative investments. The stages typically involve a thorough examination of various aspects of the investment proposal to ensure informed decision-making.

Strategic Review, Performance Review, and Legal Review are all standard components of the due diligence process.

• A Strategic Review assesses the alignment of the investment with the overall strategic goals of the potential investor. This step is vital to ensure that the investment will contribute positively to the investor's broader portfolio strategy.

• A Performance Review involves analyzing historical performance data to understand how the investment has performed relative to its benchmarks or peers. This analysis provides insights into the investment's strengths and weaknesses, guiding further assessment.

• A Legal Review is crucial for identifying any legal risks associated with the investment, including compliance with regulatory frameworks and reviewing any contractual obligations that pertain to the investment.

In contrast, a Long-term Forecast Review, while valuable for assessing future potential, is not universally recognized as a distinct stage of the due diligence process. Instead, forecasting may be part of the overall evaluation performed during the Strategic Review or Performance Review but does not constitute a separate, defined phase on its own. Therefore, this option stands out as not aligning with the accepted stages of