McLEAN, Va. (HedgeWorld.com)–With former Capco executives at the helm, BearingPoint Inc. unveiled its hedge fund service unit, which will focus on due diligence and valuation consulting.

BearingPoint’s Alternative Investment Services and Valuation Services practices will be offered to hedge fund investors and hedge fund managers alike, officials said in a statement.

Stuart Feffer and Christopher Kundro joined BearingPoint from Capco earlier this year (see ). Both are managing directors at BearingPoint, and they are co-leaders of the Alternative Investment Services and Brokerage & Securities Servicing groups.

“The current focus on requiring hedge funds to register shows a level of concern out there,” said Mr. Kundro in a statement. “Institutions are seeking such services to help manage the operational risks sometimes associated with hedge fund investments.”

According to Mr. Feffer, investors also may be concerned about valuation issues, which are part of the operational risk factors hedge funds face. The firm plans to offer hedge funds operation infrastructure advice.

Additionally, officials said they would work with allocators, distributors, prime brokers and administrators on issues surrounding operations, technology, control, due diligence and new fund setup.

They also plan to complete market studies for services providers and ongoing research projects. While at Capco, Messrs. Feffer and Kundro co-authored a series of research papers on the issues of operational risk and valuation within the hedge fund community.

SBarreto@HedgeWorld.com

Contact Bob Keane with questions or comments at: bkeane@investmentadvisor.com.