Independent Investment Advisory
Due Diligence Streams
Most investment opportunities in MENA fail not because the asset is wrong, but because the numbers were not independently rebuilt, the title was not verified with the correct authority, the sponsor was assumed capable rather than tested, and the exit was treated as an afterthought.
M20 applies four streams to every opportunity. The framework is constant. The examination is tailored by asset type and country — because due diligence in Dubai is not the same as in Cairo, and buying a building is not the same as buying a company.
Capital is not released until all four gates are cleared and the Investment Committee issues a written verdict.
Confidential. No obligation.
The Four Streams
M20's due diligence framework is a four-stream, phase-gated process. Every stream runs a fixed sequence of phases. Every phase produces a defined output. That output is the only thing that authorises the team to advance to the next phase.
01
Investment Due Diligence
Is this deal financially credible?
What M20 Does
Rebuilds the financial model from raw data — independently, from scratch. Benchmarks valuation against comparable transactions. Stress-tests returns across three scenarios. Issues a verdict before any other stream begins.
What We Examine
Deal Screening — mandate fit, headline economics, sponsor reputation
Financial Modelling — rebuilt from rent rolls, operating history, or company financials
Valuation Validation — entry price benchmarked against comparable transactions
Risk & Sensitivity — break-even, covenant headroom, worst-case scenario
IC Recommendation — formal verdict: Proceed, Proceed with Conditions, or Reject
What You Receive
Independent financial model, valuation range report, stress-test pack, tax-integrated returns, IC recommendation memo.
02
Operational Due Diligence
Is this entity operationally sound from the inside out?
What M20 Does
Investigates the operational integrity of the entity behind the transaction — from staffing and systems to controls and compliance. Reviews reputation, organisational stability, service provider quality, cybersecurity, and front-to-back office resiliency. Verifies that the infrastructure supporting the investment is as sound as the investment itself.
What We Examine
Reputation & Stability — track record, regulatory standing, key person risk, staff turnover, organisational continuity
Alignment of Interests — fee structures, incentive alignment between management and investors, related-party transactions
Internal Controls — financial controls, segregation of duties, approval hierarchies, audit quality
Asset Verification — physical asset inspection (where applicable), asset register accuracy, valuation methodology
Compliance — regulatory compliance across all operating jurisdictions, licensing status, reporting obligations
Service Providers — quality and independence of auditors, custodians, administrators, legal advisors
Systems & Cybersecurity — IT infrastructure, data protection, business continuity, disaster recovery
Front-to-Back Office Resiliency — operational workflow integrity, trade lifecycle management, settlement processes, operational risk framework
What You Receive
Operational Assessment Report, Controls & Systems Memo, Service Provider Evaluation, Cybersecurity Assessment, Compliance Status Report, Operational DD Final Memo with risk rating.
03
Legal Enforcement Due Diligence
Are investor rights legally enforceable?
What M20 Does
Verifies title with the correct authority in each jurisdiction. Reviews every contract. Negotiates investor protections into transaction documents. Confirms enforceability before capital moves.
What We Examine
Title & Ownership — jurisdiction-specific verification, encumbrance search
Permits & Regulatory — completion certs, zoning, tax clearances
Contracts — lease/SPA review, change-of-control, termination, default clauses
Investor Protections — reps, warranties, waterfall, removal rights, dispute forum
Closing & Enforceability — conditions-precedent, escrow, registration
What You Receive
Clean title confirmation, compliance pack, contract risk matrix, negotiated term sheet, closing readiness report.
04
Competitiveness Due Diligence
Will this investment survive a full market cycle?
What M20 Does
Assesses macro positioning and cycle stage. Maps competition. Stress-tests against recession, rate shocks, and currency devaluation. Validates exit pathways under adverse conditions.
What We Examine
Macro Positioning — cycle stage, supply pipeline, regulatory environment
Competitive Landscape — competitor mapping, pricing, differentiation, moat
Stress Testing — recession, rate shock, currency shock, worst-case cash-flow
Liquidity & Exit — buyer universe, secondary depth, refinancing optionality
Final Decision — consolidated findings, formal IC verdict
What You Receive
Macro report, competitive benchmark, stress-test resilience score, exit optionality report, final IC decision memo.
How to Engage
01
Consultation ( 24-48 Hours )
Share the opportunity. Initial screening. No cost.
03
Full Diligence( 2-6 Weeks )
Four streams in sequence. Updates at every gate
02
Scope Agreement( 24-48 Hours )
Diligence scope defined. Terms confirmed in writing.
04
IC Recommendation ( 48 Hours )
Final memo delivered. Client briefing session.
Note: Complex cross-border deals may extend beyond 6 weeks.