Gridline entered into a strategic partnership and technology integration with Hamilton Lane through which the companies said on Tuesday that Gridline is using the private markets investment firm’s proprietary private markets data to enhance its AI-powered AltComply diligence tool with a new benchmarking engine.
The partnership agreement is the first between the firms and was executed in May, Peter Bilali, Chief Product Officer and Co-Founder of Gridline, told Wealth Solutions Report by email.
“Gridline’s investment team had been using Hamilton Lane’s Cobalt LP software and saw significant value in its transparent private markets data and benchmarking capabilities,” according to Bilali.
“Recognizing the opportunity to bring those insights directly to AltComply’s diligence workflows, Gridline approached Hamilton Lane about an integration and the partnership was executed quickly thereafter,” he said.
The Hamilton Lane integration is “already live” for customers, he pointed out, adding, “the integration was completed within 4 weeks.”
“The integration was beta-tested via Gridline’s in-house investment team as they actively leverage AltComply as part of their diligence process daily—both in an OCIO capacity for Gridline clients and as part of Gridline’s Investment Committee diligence process evaluating funds interested in listing on Gridline’s members-only marketplace,” Bilali said.
AltComply helps RIAs, multi-family offices and private banks “scale private markets diligence without sacrificing judgment, regulatory defensibility or speed.” – Gridline
AltComply helps RIAs, multi-family offices and private banks “scale private markets diligence without sacrificing judgment, regulatory defensibility or speed,” according to Gridline.
According to the firms, the integration allows wealth managers, investment teams and compliance organizations to benchmark fund managers against cohorts of the same year and peer groups, see historical performance and make better informed due diligence decisions.
The firms said that through the integration, compliance teams will have a private market investment repository that supports process standardization, decreased regulatory risk and repeatable diligence at scale.
“One of the most important steps in institutional-quality due diligence is understanding how a fund manager's performance compares against relevant peers over time,” Bilali said in the news release. “Without that context, investors are often flying blind when evaluating managers.”
Bilali added, “AltComply's new capabilities help close the gap and enable investment teams to scale investment diligence while preserving judgment and maintaining a defensible audit trail.”
“Partnering with Gridline allows us to seamlessly integrate our private markets benchmarking capabilities into advisors’ existing workflows, further advancing our goal of providing clients with the information they need to make strategic investment decisions,” Griff Norville, Head of Technology Solutions at Hamilton Lane, said in the news release.
He added, “By combining cutting-edge technology with differentiated private markets data, wealth managers and investment teams are better equipped to build more sophisticated portfolios and deliver solutions their clients can trust.”
Companies interested in exploring Gridline’s platform can request trial access, it said.
AltComply Early Months
In March, Gridline announced the launch of AltComply, saying it was designed to help RIAs scale private markets diligence while preserving documentation and review records, as well as to connect risk analysis, memo generation and review tracking in one system rather than as isolated workflow steps.
“Since launching in March, AltComply has received positive feedback from CIOs, investment teams and compliance professionals,” Bilali told WSR.
“Users report saving more than 10 hours per investment on diligence documentation while also improving the quality and consistency of outputs compared to existing processes.”
He added, “For customers with heavy deal flow, AltComply has unlocked velocity within the diligence process so teams can review a higher volume of deals without adding headcount—spending time with the managers they have the most conviction with based on AltComply’s analysis.”
Twelve firms were already using AltComply as of Thursday, according to Bilali.
Hamilton Lane had $1 trillion in assets under management (AUM) and supervision, including $141.8 billion in discretionary assets and $905.3 billion in non-discretionary assets, as of March 31, it said.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
