What Is AI’s Role in Private Market Fund Management?

Managing a fund isn’t what it used to be. In today’s alternative investments landscape, private market firms are sitting on unprecedented amounts of data while limited partners (LPs) demand more transparency than ever. Against this backdrop, due diligence and reporting are becoming increasingly exhaustive. Operational strain is increasing while headcount largely remains unchanged. As a result, general partners (GPs) and LPs are looking for faster ways to access, analyze and act on increasingly large data sets. 

This is where artificial intelligence (AI) is making its timely entrance into private market fund management workflows. Welcome to the first installment of the Alts AI blog series, where we’ll be exploring the state of AI in the alternatives space with an eye toward the future. This series builds on insights from our M&AI blog series, which focuses on AI’s impact on dealmaking. 

Following a slower start relative to other sectors, AI adoption among private market investors has ticked up notably over the past several years. Of the 280-plus investors polled in the SS&C Intralinks 2026 LP Survey, 86 percent are already using AI to monitor their investments, and 92 percent expect the technology to be highly impactful. Early movers are already seeing operational and strategic gains, with lots of runway to go. 

How is the technology being applied today, and what’s on the horizon? 

Much of the AI advantage is centered around putting unstructured data to use. Whether it’s uncovering fund performance or due diligence insights, the ability to use conversational prompts to surface insights within data rooms, portals and customer relationship management (CRM) platforms represents a significant step forward from manual reviews and keyword searches.

These automation and lookup capabilities are also key to reducing administrative overhead and repetitive work during the fundraising and onboarding processes, where manual due diligence questionnaires (DDQs) and AML/KYC consume valuable time and resources for GPs and LPs. Across the fund life cycle, a fundamental shift is taking place as teams increase the speed at which they synthesize insights from vast datasets. 

Agentic AI will likely be the next leap forward, driving autonomous, orchestrated workflows. Justin Smith, managing director, business development at Agellus Capital, is one of the GPs we spoke to for our report, What AI Adoption Means for GPs and LPs. He explained how Agellus leverages a custom AI agent to query data from its CRM, giving his colleague 10 hours back per week to dedicate to higher-value work: “What used to take 30 to 45 minutes of data analysis and data entry per deal now happens in three to five minutes.” 

Meanwhile, LPs like StepStone Group are using their own AI agents to pull data and generate investment summaries. It may be early days for agentic AI, but firms are already seeing significant gains. 

What sets the winners apart in the AI age? 

While many firms are seeing the benefits of AI adoption, those waiting on the sidelines will soon see the cost of their inaction. Fund managers without a strong AI strategy will be outpaced by their tech-savvy counterparts — and many LPs will be wondering why their GPs aren’t using every available tool to enhance operations and value creation. 

For AI to be effective, however, it must be applied deliberately to solve specific problems. Hastily implemented, white-labeled large language models (LLMs) are unlikely to drive transformative change. In the alternatives space, the greatest uplift will be felt by firms using purpose-built platforms that integrate AI across the investment life cycle. Those partnering with technology providers who bring extensive industry experience, technology expertise, and AI research and development are best positioned to unlock new value.

What AI leadership looks like 

At SS&C Intralinks, it’s not just our decades of experience driving strategic financial transactions and private market fund operations that gives our clients an advantage. We’ve been investing in AI since 2018 to keep our technology — and our customers, the largest global community of GPs and LPs — on the leading edge.

FundCentre AI^TM is a result of that investment, bringing the entire fund life cycle into one AI-powered platform. What sets FundCentre AI apart from other fund management platforms? 

Scalable, branded marketing outreach: Identify your most engaged prospects and seamlessly share diligence materials via customizable LP-facing landing pages. 

Faster onboarding: Take the friction out of AML/KYC workflows with a guided, automated experience — and track LP progress every step of the way.

Seamless reporting: Deliver quarterly reports at scale and enable on-demand, AI-powered data extraction for LPs.

Proprietary AI innovation: Leverage AI tools built in-house by experts in technology and private market fund management. 

Industry expertise: Partner with the decades-long leaders in financial technology and inventors of the virtual data room — backed by SS&C, the world’s largest fund admin. 

Bank-grade security: Transact with confidence knowing your data is never used to train our models and that it never leaves our environment. 

Looking forward 

Approaching prospective investors with a professional, branded experience goes a long way toward leaving a winning first impression. Building on that initial interaction with transparent, frictionless due diligence and reporting helps solidify the trust that underpins lasting relationships.

Our commitment to strengthening these connections and driving value creation is unwavering. As AI continues to evolve, SS&C Intralinks will continue to lead, helping our customers remain at the forefront of innovation.

To stay up to date on the most important AI developments in the alternatives space, watch out for future installments of the Alts AI blog series, where we’ll continue exploring key AI use cases and their impact on the future of the private markets.