Prepare an evidence-led investment memo.
State the assessment, supporting case, material risks and conditions for further review.
Compare the incoming evidence with the approved figures before accepting the update.
Lead with the assessment
Open with the business, proposed terms and screening conclusion. Explain why the opportunity merits attention, the principal risks and the information still required. Follow with mandate fit, portfolio exposure and valuation analysis supported by the available evidence.
Distinguish facts, assumptions and judgement
Identify management-reported figures, reviewed information, model assumptions and the team’s assessment separately. A source reference establishes where a statement came from; the reviewer must still assess its reliability and sufficiency for the proposed decision.
- Which source supports the material number?
- Which assumption drives the outcome?
- What would change the recommendation?
- Who owns the remaining diligence question?
Retain the decision and its conditions
Save the decision, rationale and outstanding conditions alongside the investment record. Include the responsible reviewer and the evidence considered. This allows the next review to recover the original case and establish whether later information changes the conclusion.
