Hamilton Lane buys into A.I.-fueled tech from Canoe

Hamilton Lane announced that it has fully implemented Canoe Intelligence, a financial technology tool that automates and aids investment operations for alternative investors. The move follows Hamilton Lane’s participation in Canoe’s series A funding round in February. The private markets firm is now collaborating with Canoe in order to unlock new efficiencies in the investment process including data collection, accounting, investment tracking, portfolio management, reporting and more. According to an announcement from Canoe, Hamilton Lane will deploy the technology to automate data management tasks and accelerate access to new elements within alternative investment reports at-scale. Hamilton Lane offers its own investment products in addition to advising large institutional investors in their alternative investments. The 28-year-old firm has approximately $488 billion in assets under management and supervision, which includes $66 billion in discretionary assets and nearly $422 billion in advisory assets. Some of the firm’s advisory clients includes: Pennsylvania Public School Employees’ Retirement System; Washington State Investment Board; New York State Common Retirement Fund; and Massachusetts Pension Reserves Investment Management Board. “Canoe is singularly focused on solving the unique data challenges faced by alternative investors and allocators with highly specialized technology solutions,” said Seth Brotman, CEO of Canoe. He also expressed gratitude for Hamilton Lane’s ongoing support and collaboration with Canoe. Canoe’s technology allows for the rapid conversion of volumes of unstructured alternative investment reporting documents into accessible data sets for tracking and organization to allow for improved investment decision making. The platform leans on a blend of proprietary and open-source machine learning and artificial intelligence technologies. “Hamilton Lane remains committed to using technology innovations to enhance how it manages and consumes data,” said Griffith Norville, managing director of strategic technology at Hamilton Lane.

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