2023 was a wild year in the world of Generative AI. It also has so much potential to dramatically impact business workflows (not to mention personal creativity) that with a strong nudge from Matthew Brandman, I came out of retirement and started DiligentIQ. We put together a team with deep PE and Credit industry knowledge and amazing technical engineering skills. Our goal is to change the way many diligence activities are done at GPs and LPs invovled in private equity and alternative investments more broadly.

With a great team and the support of a lot of friends that work across the PE industry, we designed and released a purpose-built diligence platform, raised capital and are now live at 10 firms in pilot mode. We are learning with our clients and partners while rapidly evolving our platform.

IMHO - Generative AI success at this stage is a combination of art, science, creative destruction of your codebase, endless research and measured risk taking. I believe firms that embark on this journey early will quickly differentiate themselves as the technology matures. If you are interested in becoming a pilot and joining our journey in 2024, please DM me.

In the U.S., interest rates seem stable and headed lower in 2024. Dry powder at PE and Alt Credit firms is at an all time high. Gen AI change shows no signs of slowing down. Many sectors of the US economy have shown amazing resiliency and growth despite powerful headwinds.

Here is hoping for a prosperous 2024 and a more peaceful world (I’m an optimist at my core).