BC Partners, Goldman Sachs share thoughts on ChatGPT, plus a new platform for GTCR

View this email online

BC Partners, Goldman Sachs share thoughts on ChatGPT, plus a new platform for GTCR

Good morning, dealmakers. MK Flynn here with the Wire on this Tech Tuesday.

This morning, we’re continuing our quest to find out how private equity firms are thinking about ChatGPT and generative AI.

We’ve got a terrific interview with BC Partners’ Lakshman Charanjiva on how the firm is using the new technology in its dealmaking and other activities.

And we’ve got some thoughts from Goldman Sachs on the hot topic.

In other news, we’ve got a Deep Dive on GTCR’s legendary The Leaders Strategy.

Let’s get to those stories now.

Identifying opportunities

BC Partners has a partner-level working group setting the firm’s strategy and direction for using generative AI, Lakshman Charanjiva, partner and portfolio chief technology officer, portfolio operations, told Craig McGlashan, the editor of PE Hub Europe.

Subscribers to the premium version of the Wire may read about the interview here.

Permeating every element

Yesterday, one of Goldman Sachs’ most senior bankers said the firm is giving serious thought to the business implications of artificial intelligence, Alex Lynn of Private Equity International reported.

Subscribers may see what Todd Leland, president of Goldman Sachs International told delegates at Private Debt Investor’s Seoul Forum on Monday.

Later this week, I’ll be sharing an interview with One Equity Partners’ Chip Schorr about how OEP is using generative AI.

If you’ve got thoughts on generative AI and PE, we’d love to hear them. Email us at [email protected] and [email protected].

And if you’d like to see how third-party origination services are already using ChatGPT and generative AI in the deal sourcing process, click here to read a recent story on PE Hub.

On the hunt

PE Hub’s Rafael Canton caught up with GTCR director Kevin Fitzgerald about the most recent announcement in The Leaders Strategy, the Chicago firm’s well-known method of teaming up with experienced executives in a particular subsector to create a platform investment.

Subscribers may read the full interview.

Survey says …

PEI Group has recently launched this year’s Emerging Manager Surveys for both emerging managers and investors that back emerging managers.

We invite you to participate!

GPs can weigh in here.

And LPs can weigh in here.

Both surveys should take no longer than 10 minutes to complete, and all participants receive a pre-publication, complimentary copy of the final report.

You can also opt for either a $5 UNICEF donation which we will make on your behalf or entry into a prize draw to win one of three $100 Amazon vouchers.

That’s all for today. Buyouts’ Chris Witkowsky will be back with the Wednesday Wire tomorrow.

Happy dealmaking,

MK

Read the full wire commentary on PE Hub...

Also of note (may require subscriptions)

It’s possible Freeman Spogli’s pacing, which seems almost quaint, represents what private equity will have to return to – a slightly slower, less frenetic operation. (Buyouts)
Florida State Board of Administration, one of the nation’s largest institutional investors, may boost how much it will allocate to private equity following a new state law lifting its cap on alternative investments. (Buyouts)
Proterra Investment Partners is fundraising for its latest farmland investment vehicle, Fund V, which will see the fund manager invest in US farmland assets for the first time. Agri Investor understands that the vehicle, which is aiming to raise up to $500 million, is close to holding a first close.
Rail passenger numbers may have been hit hard by covid, but the growing drive for sustainability among both tourists and freight users is once again fueling investor appetite in the asset class. (Infrastructure Investor)
TiLT Capital, an energy transition-focused private equity firm, has raised €250 million for its debut fund and is aiming to hit its €300 million hard-cap by October. (New Private Markets)
Accelex harnesses artificial intelligence and other technologies in a bid to bring more transparency to private debt. The firm's Nicole Weder highlights some of the opportunities and challenges. (Private Debt Investor)
Placement agent Monument Group and boutique secondaries advisory firm Mozaic Capital Advisors are set to merge after an eight-year strategic alliance. (Secondaries Investor)
Springbank Collective, a women-led venture firm based in New York, announced that it has raised $35 million for its debut fund. (Venture Capital Journal)