Kirkland, Palantir Launch AI Tool Targeting Fund Formation Work

Kirkland & Ellis has launched a multi-year partnership with Palantir Technologies Inc. to develop custom artificial intelligence solutions, starting with a tool to make private equity fundraising more efficient.

The law firm and the AI company said Thursday that they developed a proprietary platform designed to “transform” private equity fundraising. It’s the first product launch since Kirkland last week said it was committing $500 million to building its own proprietary AI platform.

The Palantir tool is built on the back of Kirkland’s institutional knowledge, workflows, tradecraft and judgment, according to a news release. The firm’s work with Palantir “centralizes and compounds the expertise of its most senior lawyers” and makes it available at scale across more than 1,000 lawyers supporting its investment funds group, Kirkland said.

“By combining Kirkland’s market-leading funds expertise with Palantir’s technology infrastructure, we will deliver better value and outcomes in addressing the evolving needs of both GPs and LPs by bringing to bear our most senior judgment and our extensive knowledge base,” Erica Berthou, a Kirkland partner and global executive committee member, said in a statement..

Last week, Fried Frank rolled out a tool it built internally that leverages OpenAI’s ChatGPT to streamline its fund formation practice.