Fried Frank Launches AI Tool for Fund Lawyers

Fried Frank has launched FundAssist, a proprietary AI platform built for its asset management practice, announced on May 28, 2026.

The launch signals a broader shift in how large law firms are investing in practice-specific AI tools rather than relying solely on general-purpose legal technology. For fund lawyers and their clients, platforms like FundAssist point toward faster document turnaround and reduced costs in complex fund formation work.

What FundAssist Does

FundAssist supports document search and drafting across three areas: private fund formation, ongoing fund operations, and related transactions. The platform is currently available to the firm's asset management, regulatory, and tax lawyers.

Users can search across fund documents and receive responses in client-preferred language. The platform also allows lawyers to build a client-specific precedent library, meaning past documents and preferred terms can be stored and retrieved quickly for future matters.

FundAssist integrates with Fried Frank's existing document management system. A multi-agent drafting tool, currently in beta, is designed to generate first drafts of long-form fund documents.

Client Access Plans

Fried Frank plans to make FundAssist directly accessible to its clients, though no specific timeline has been provided. Currently, the platform operates in a secure environment that allows clients to tailor the precedent library to their preferences.

Kenneth I. Rosh, Fried Frank chairman and co-head of the firm's Asset Management and Private Equity Funds Groups, said: "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."

Becky Zelenka, partner and co-head of the Private Equity Funds Group, added: "We are laser-focused on technologies that are tailored to our practice and provide immediate benefits to clients."

Broader Tech Investments

FundAssist is part of a wider technology push at Fried Frank. Last year, the firm adopted ProVision, a platform developed by Intelligent Legal Solutions, to deliver side letter services to fund formation clients. Side letters are agreements between fund managers and specific investors that modify standard fund terms for that investor.

The firm also launched a strategic partnership with Centari, described as a platform for Deal Intelligence. Across the firm globally, Fried Frank has deployed Legora for document review, drafting, and analysis, and Draftwise as a contract drafting tool.

These adoptions reflect a pattern of layering multiple specialized tools across different practice groups rather than relying on a single platform.

Asset Management Scope

Fried Frank's Asset Management Practice serves clients across the United States, Europe, and international markets. Its client base includes financial institutions, hedge fund managers, private equity firms, investment advisers, family offices, and institutional investors.

The firm operates across five offices: New York, Washington DC, London, Frankfurt, and Brussels. FundAssist was developed exclusively by Fried Frank and is not a licensed or white-labeled third-party product.

No specific figures on cost savings, hours reduced, or number of documents processed through FundAssist have been disclosed by the firm at this time.

About Fried Frank

Fried Frank Harris Shriver and Jacobson LLP is an international law firm with offices in New York, Washington DC, London, Frankfurt, and Brussels. The firm advises on corporate, finance, real estate, and litigation matters, with a dedicated Asset Management Practice that serves fund managers, institutional investors, and financial institutions across global markets. Kenneth I. Rosh serves as the firm's chairman.