The GP's numbers look right. But do the documents agree?

Every fund in a secondaries transaction comes with its own LPAs, DDQs, quarterly reports, and financial data. The teams closing the information gap fastest have found the specific parts of their workflow where AI handles the document-heavy work so their analysts can focus on the decision. Here are five of those workflows.

Every secondaries transaction comes with the same challenge: the GP's numbers look right, but the real story is in the documents. LPAs, DDQs, quarterly reports, fund statements, LP updates -- each fund generates its own stack of materials, and extracting consistent, comparable information across all of them is the work that happens before the actual analysis can begin.

For most teams, that extraction work is manual, time-consuming, and happens under deadline pressure. It is also where the gaps tend to appear, not in the headline numbers, but in the details that do not surface until after close.

The secondaries firms seeing the most value from AI have identified the parts of their workflow where document volume creates the most drag and concentrated their efforts there. Their analysts spend more time on decision making and less time on reconciliation.

Here are five workflows where secondaries teams are saving time and generating better diligence outcomes.

Extracting portfolio company and fund-level data across every document in a deal, whether it lives in PDFs, Excel, or CSV files, and organizing it into a single consistent view.

Running risk reports on every company in the portfolio, not just the top names by value, so teams have a complete picture before they close.

Building an institutional knowledge base that grows with each transaction, so every new deal benefits from what the firm has already learned.

Generating a first-draft IC memo from the firm's own template, populated directly from deal documents.

Running a thorough review of the full document set before the IC presentation, the kind of analysis that should happen on every deal but rarely does because there is simply no time left.

We have put together a closer look at each workflow, including the specific inputs, outputs, and ToltIQ features involved. Click the download report button above to view the carousel, and if you would like to see any of them in a live deal context, we would be glad to walk you through it.