United Arab EmiratesFinance and insurance2024 – ongoingInvestcorp
DiligentIQ generative AI platform for private equity due diligence
Investcorp's Strategic Capital Group said a generative AI diligence tool saved its GPs hundreds of hours
Problem
Due diligence on private equity deals meant reading long credit agreements, contracts and offering memorandums by hand. Investcorp described these tasks as labor-intensive and time-consuming.
Approach
Investcorp's Strategic Capital Group partnered with DiligentIQ, a generative AI platform founded by a former KKR partner. The platform uses large language models to read and analyze documents from many sources. The group also supports its GP portfolio companies in adopting AI for diligence.
Results
Takeaway
Document-heavy diligence work was an early fit for a language-model tool. The firm gave a time saving but no baseline or method.
Categories
- Size
- Large enterprise
- Industry
- Finance and insurance
- Business function
- Finance, risk and legalInternal work and knowledge management
- Innovation type
- Process innovation
- AI technology
- Generative AI
- Adoption
- Vendor solution
- Evidence
- Company's own claim
Sources
Source summaries
Investcorp announced that its Strategic Capital Group uses the DiligentIQ generative AI platform for diligence work such as credit agreements, contracts and offering memorandums. A group executive said the tool had already saved GPs hundreds of hours. No other figures were given.
Full details are in the original sources.
