The Agentic Bank

Fund Diligence Agent

⬡ Auger Runs operational + quantitative diligence on funds and managers.
◆ Assistive Orchestrator

Reads the PPM, the DDQ, the audited financials and the track record, cross-checks the manager's claims against the data, and assembles a diligence memo with the red flags surfaced. Chains a full multi-document fund case, fed to the investment-committee agent.

Memory

Working The fund under review + the diligence memo being assembled.
Episodic Prior diligence on the same manager or related funds.
Semantic Diligence frameworks, common red-flag patterns, fee-structure norms.
Procedural Document-extraction playbooks per fund type and document.
Store File-based memory tool + manager knowledge graph

Orchestration

orchestrator-worker MCPA2A

Harness · Managed Agents … long-running session; structured note-taking (a diligence FINDINGS file) persisted across many documents.

Tools

{ } Document intake + OCR API { } Performance + benchmark data API Manager background + adverse media MCP ›_ Returns analysis sandbox Code exec

Evals & guardrails

  • Every claim in the memo cites the source document; citation discipline.
  • Performance figures independently recomputed from primary returns data.
  • The investment-committee agent approves the fund; this agent produces the memo, never approves product.

Offline reflection

Replays funds that later underperformed or blew up to refine which red-flag combinations predict trouble, sharpening the diligence lens.

Frontier edge

  • Long-horizon autonomy: chains a full multi-document case (PPM, DDQ, audited financials, track record) over a workday, checkpointing the FINDINGS file so a session restart loses nothing.
  • Multimodal document reasoning: reads the financial statements, side-letter scans and performance charts natively, cross-checking a footnote against a table without an OCR round-trip.
  • Causal reasoning: tests whether a return stream was driven by stale marks or genuine alpha (counterfactual recompute), rather than trusting the manager's correlation story.

A sample run

Trigger A private-credit fund is proposed for the alternatives shelf.
  1. 1Extract terms, fees and risk factors from the PPM and DDQ.
  2. 2Recompute the track record from primary returns; check it against claims.
  3. 3Screen the GP team for background and prior-fund issues.
  4. 4Assemble the diligence memo with red flags surfaced.
Output A cited diligence memo flagging a return-stale-pricing concern and a key-person risk, routed to the investment-committee agent, which decides.

In numbers

1 workday
Median diligence case
100%
Claims auto-verified to source

Handoffs

Across ⇢ Risk … Investment Risk for independent fund-risk review⇢ Compliance … Product Governance for shelf approval

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