Decisions and Operations for Institutional LP Fund Programs
PrivateMetrics Meridian is the AI-augmented platform institutional LP investment and operations teams use to support fund investment program decisions and operations — across 7 asset classes, with fiduciary-grade traceability throughout. Meridian works alongside existing investment, operations, and accounting functions; it is not designed to replace them.
Why Meridian Exists
The whitespace in LP technology
Most institutional LPs manage their private-markets programs with a patchwork: a fund-accounting system for commitments, a benchmarking service for performance data, a monitoring tool for PDF extraction, a fund-administration portal for capital calls, and spreadsheets for everything else. Each of these solves a real problem. None of them solves the integration burden between them — the reconciliation, the handoffs, the lack of an audit trail that spans source-to-report. Meridian is built to be the system of record for the full LP lifecycle, with other systems feeding into it rather than sitting beside it.
Fund accounting platforms
Solves: Complex fund structures, audit trail, multi-entity accounting
Misses: LP-native workflows, pacing, AI, fast deployment, mid-market affordability
Benchmarking and analytics services
Solves: Performance data, peer comparison, vintage quartiles
Misses: Full workflow, pipeline, due diligence, operational system of record
Portfolio monitoring tools
Solves: Data extraction from GP PDFs, document tagging
Misses: Sourcing, due diligence, IC workflow, pacing, portfolio optimization
Fund administration portals
Solves: Capital calls, distributions, investor reporting
Misses: LP-specific workflows (primarily GP-oriented tools)
Consultant portals
Solves: Advisory research, manager ratings, benchmarking
Misses: Independent LP system of record, cross-consultant reconciliation
Spreadsheets
Solves: Flexibility, familiarity, ad-hoc analysis, zero licensing cost
Misses: Audit trail, collaboration, scale beyond 30–50 funds, automation
Meridian is designed to consolidate what LPs currently piece together — source-to-report, one audit trail, one vocabulary, AI augmentation built into every stage rather than bolted on.
Built for How Institutional LPs Manage Funds
Every capability designed for the fund investment workflows institutional investors actually use — from sourcing through governance.
AI-Assisted Sourcing Research
A structured workspace for per-fund decision memos. Six research channels — GP relationships, regulatory filings (SEC/LEI), web, market intelligence, peer-LP activity, economic fundamentals — synthesize into a sourcing thesis with source-tagged facts and confidence tiers (Strong, Moderate, Preliminary, Exploratory). A grounding check flags fabricated dollar amounts before they reach a memo.
6 research channels, source-taggedFund Pipeline & Evaluation
Move fund opportunities through a structured 5-stage pipeline — sourcing, screening, due diligence, IC review, commitment. AI scores mandate fit at every stage and the kanban workflow keeps the whole pipeline visible at a glance.
5-stage pipelineFund Screening
Before committing 4-12 weeks to due diligence, screen each pipeline fund against nine fit dimensions — asset class, strategy, geography, fund size, GP relationship, vintage timing, and more. Every fund gets a three-layer report: a one-screen verdict for the IC chair, per-dimension Pass/Conditional/Fail evidence for the analyst, and a threshold-level audit trail. Hold verdicts carry a 90-day expiry and a named resolution signal, so nothing lingers unresolved.
9-dimension per-fund verdictFund Due Diligence
Run institutional-grade DD on every fund: structured checklists, GP reference checks, term comparison, risk factor analysis, site visits, and automated DD report generation.
Institutional-grade DDFund Simulation & Optimization
Model any fund before you commit and pace your whole program before cash calls land. Simulate returns, fee drag, and monthly cash flows across 9 asset-class simulators (7 strategies plus secondaries and fund-of-funds); optimize commitment pacing across every fund you own and every fund you might — subject to your policy bands, vintage diversification rules, and GP concentration limits.
Whole-program pacingRisk & Liquidity Management
Know before quarter-end whether a capital call will strain your cash. Quarterly live-commitment forecasting with monthly-resolution simulation, over-commitment alerts, zero-profit break-even analysis, and probability-weighted stress-scenario ensembles with explicit belief calibration.
Probability-weighted stress ensemblesFund Portfolio Management
See every fund commitment, NAV, unfunded capital, and performance metric in one view. Know exactly where your capital stands across all 7 asset classes.
ILPA 2025 alignedExposure & Concentration Analysis
See your portfolio across every dimension that matters — strategy, geography, vintage year, fund size, and GP. Concentration flags trigger against your investment policy bands, not arbitrary thresholds; vintage-triangle views surface aging patterns before they distort returns.
Policy-anchored concentrationAdvanced Analytics
For the questions a capability grid can't answer. State-space analytics with 8 API endpoints — event-boundary detection, probability-weighted scenario ensembles, inverse-probability belief calibration, and KL-divergence robustness analysis — flag when current conditions diverge from the environment your portfolio was built for. FX sensitivity scenarios show what currency shifts do to unfunded commitments. Peer quartile rankings, vintage planning, and rebalancing recommendations round out the depth that institutional investment committees ask for.
For when the easy questions run outILPA Data Imports
Import GP quarterly reports via ILPA standardized templates. Automated validation catches errors; reconciliation flags discrepancies before they reach your board.
ILPA template supportFund Reporting & Compliance
Generate board-ready fund reports in minutes. 6 report types — Board Quarterly, Board Annual, IC Memo, Flash Monthly, Consultant Quarterly, and Custom Templates — with AI-drafted narratives.
6 report typesCustom Report Builder
Assemble exactly the report your board or consultant needs. 21 composable section blocks, reusable templates, and AI-drafted narratives — all exported to PDF.
21 section blocksFiduciary Governance
Demonstrate fiduciary prudence at every step. Track conflict disclosures, manage IC meetings with quorum and voting records (dissents recorded as structured fields), monitor valuation alerts, and maintain ERISA compliance. Every assessment override (dimension score, weight, gate waiver, disposition) is audit-trailed with per-entity attribution.
Full fiduciary lifecycleOpen-Source LLM, Your Data Stays Yours
Meridian runs on Qwen 2.5 14B, open-source and self-hostable. No data goes to OpenAI or Anthropic by default. Commercial providers are opt-in per client, never a silent fallback. If the LLM fails, the UI surfaces the failure explicitly — no template prose masks it.
Qwen 2.5 14B, self-hostedPlatform Views
Portfolio Overview — 6-Section Dashboard
Track total commitments, NAV, unfunded capital, and cash position at a glance. ILPA metrics with real-time aggregation.
Pipeline Kanban — 5-Stage Workflow
Drag-and-drop opportunities through sourcing, screening, due diligence, IC review, and commitment stages.
Simulation & Optimization — Realizable Cash Flow Paths
Monthly resolution from actual fund mechanics across all major asset classes. Optimized commitment pacing across multi-fund programs with configurable constraints and objectives.
Risk & Liquidity — Shortfall, Stress Testing, Pacing
Liquidity forecasting, shortfall analysis across stress scenarios, zero-profit break-even, over-commitment monitoring, and optimized commitment pacing.
AI-Assisted Sourcing Research — Per-Fund Decision Memos
A research workspace for sourcing and evaluation. Six channels (GP relationships, regulatory filings, web, market intelligence, peer-LP activity, economic fundamentals) query a 7,200-firm public-research substrate (SEC ADV + Wikipedia rosters + GLEIF cross-reference) and synthesize per-fund decision memos. Citation-tagged rationale prose with interactive source chips; per-asset-class verification SLAs surface coverage gaps; a methodology-appendix PDF documents every query, source, fact, and gap for the IC packet — every session, end-to-end.
Board Reports — AI-Drafted Narratives
Generate board-ready reports with AI-drafted executive summaries, performance highlights, and risk assessments.
Fiduciary Governance — Conflict, IC, ERISA
Track conflict disclosures, manage IC meetings with quorum requirements and dissent recording, monitor valuation alerts, and maintain ERISA compliance. Fiduciary scoring across your organization plus full audit trail for every assessment override.
Custom Report Builder — Modular Sections
Build custom reports from composable section blocks. Mix performance summaries, allocation charts, risk metrics, and narrative sections. Save as reusable templates.
Advanced Analytics — State-Space, Currency, Peer Rankings
State-space analytics with event-boundary detection and probability-weighted scenario ensembles, plus inverse-probability belief calibration and KL-divergence robustness analysis. Currency exposure with FX sensitivity scenarios. Peer quartile rankings against benchmarks. Vintage year planning and rebalancing recommendations.
Integrations
ILPA Reporting
Import GP quarterly reports via standardized ILPA templates
Enterprise AI
Production-grade AI integration with institutional data security and interpretable reasoning
Export
PDF and Excel export for board reports, IC memos, and data tables
See the full platform in action
Schedule a personalized demo with your data.