Fried Frank announced the launch of FundAssist, a proprietary AI-powered platform designed to enhance document search, drafting, and knowledge management capabilities across its asset management practice. The platform supports private fund formation, ongoing fund operations, and related transactions, reflecting the firm’s broader strategy of integrating specialized artificial intelligence tools into legal services.
FundAssist was developed exclusively by Fried Frank and is currently available to the firm’s asset management, regulatory, and tax lawyers. The platform provides a secure environment for client work and enables users to customize client-specific precedent libraries to surface the most relevant and recent information. Lawyers can query fund documents to quickly obtain answers and access client-preferred language, helping streamline legal workflows.
The platform also integrates with Fried Frank’s document management system and is currently being tested with a multi-agent drafting tool capable of generating first drafts of long-form fund documents. The firm plans to expand access to the platform directly to clients in the future.
According to Fried Frank, FundAssist is intended to improve efficiency, reduce costs, and maintain the firm’s standards for legal service delivery while addressing the evolving needs of fund clients.
The launch builds on Fried Frank’s broader investments in legal technology. Over the past year, the firm adopted Intelligent Legal Solutions’ ProVision platform for side letter services related to fund formation and established a strategic partnership with Centari, a deal intelligence platform. The firm has also implemented technologies such as Legora for legal review, drafting, and analysis, and Draftwise for contract drafting across its global operations.
Fried Frank’s Asset Management Practice advises a wide range of participants in the global asset management industry, including financial institutions, hedge fund managers, private equity firms, investment advisers, family offices, and institutional investors across the United States, Europe, and other international markets.
KEY QUOTES:
“We are excited to launch FundAssist, which reflects our ongoing commitment to investing in and evolving with new technology. Our platform is tailored to what our fund clients want and need, and is resulting in greater efficiencies and significant cost savings, while still securely maintaining our standard of excellence.”
Kenneth I. Rosh, Chairman and Co-Head of Fried Frank’s Asset Management and Private Equity Funds Groups
“The development and implementation of FundAssist demonstrates our ability to constantly enhance our efficiencies while providing unmatched value to our clients. We are laser-focused on technologies that are tailored to our practice and provide immediate benefits to clients.”
Becky Zelenka, Partner and Co-Head of the Private Equity Funds Group, Fried Frank
