James Brocklebank describes decades of private equity investing in complex, overlooked situations and says artificial intelligence presents the biggest change ahead. He is co-chair of Advent International, which manages about $100 billion and has backed major corporate transformations. Advent deploys an AI tool called the IC Robot that has been trained on investment committee papers from 13 years. The system ingests deals presented to the committee and includes perspective on both executed deals and deals not pursued. Advent digitizes internal institutional knowledge, including wins, misses, and assumptions, into a live analytical layer. When new investment memos arrive, the IC Robot reads them and cross-references assumptions against historical patterns.
"“This is an AI that has been trained on all of our investment committee papers over the last 13 years,” Brocklebank explained. “So, it's ingested everything - all the deals that we've shown the committee. And interestingly, it has the perspective on what happened to the deals that we did, but also the deals that we didn't do.”"
"Most institutional knowledge in private equity lives inside the heads of senior partners or buried in files no one revisits. Advent has effectively digitized its own intellectual history - its wins, its misses, its assumptions - and turned it into a live analytical layer that interrogates every new deal that comes before the committee."
"When a new investment memo lands, the IC Robot reads it, cross-references the assumptions against 13 years"
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