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This glossary explains the terms most often used when talking about artificial intelligence, in plain language and with the private capital industry in mind.

This is a template for firms to adopt and adapt. Replace each bracketed placeholder with your own details, align the cross-references to the policies you already hold, and delete these italicised notes once a section has been tailored.

A structured data governance framework enables firms to treat data as a strategic asset through creating a single, trusted source of truth across funds, improving the reliability of investor reporting, and supporting more informed, timely decision-making within the portfolio. To approach data governance, we have set out six principles for firms to consider.

This framework sets out principles that any firm can apply, from an early-stage venture capital firm to a large multi-strategy house. They are deliberately proportionate: the same principles apply to every firm, but the formality with which they are implemented should reflect a firm’s size, strategies and appetite for risk.