Hedge Funds

BackTrack's growth mirrors hedge fund industry

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First Advantage Investigative Services, purveyors of the BackTrack Report, has opened its first satellite office, in Pittsburgh, Pa., and is enlarging its staff as increased business flows into the New York City-based firm from investors seeking due diligence on hedge funds, among other investment options.

BackTrack offers independent background due diligence to investors, including funds of funds, pensions and endowments. Its services have become even more in vogue as hedge fund debacles, such as the 2005 dissolution of Bayou Group and Wood River Capital, alerted investors to the need for intensive due diligence.

This year, BackTrack has increased its