The joint initiative will provide institutional investors, hedge funds and funds of funds with holistic services to address both quantitative and qualitative risks.

'I'm delighted to be able to announce this new partnership,' says Leslie Rahl (pictured), founder and managing partner of CMRA.' CMRA has long been a leader in risk management, risk governance, and development of best practices. By joining forces with Risk Fundamentals, we will be able to augment our customized consulting services with more standardized services directed at midsize funds and plans.'

The services of the joint venture will include: providing clients with a picture of their risks and supporting management of those risks; providing 'translations' of risk reports that make them meaningful to boards and chief executives; performing both performance and risk attribution analysis so that clients can maximize the risk efficiency of their returns; reviewing risk management and compliance policies of the client and/or, where relevant, its underlying managers; assessing funds' valuation, counterparty risk management, and liquidity practices, among others against their peers'; and providing comprehensive stress testing capabilities to analyze market moves, scenarios, assumptions, and 'management or investor nightmares'.

CMRA is a financial advisory firm providing risk management advisory and litigation support services to institutional investors, hedge funds, funds of funds, mutual funds, investment and commercial banks, insurance companies and other market participants.

Risk Fundamentals is a risk management and transparency solution for hedge funds, funds of funds, and hedge fund investors.