Kirkland & Ellis has entered into a multi-year agreement with data analytics company Palantir Technologies to build an artificial intelligence tool designed to support its advisory work for private equity clients, particularly in fund formation and capital raising, according to a report by the Financial Times.
The platform will be used to streamline a range of legal and advisory tasks, including drafting fund documentation, preparing side letters, tracking investor agreements, and monitoring compliance obligations for private equity managers and their limited partners.
Kirkland, which advises many of the world’s largest buyout firms on multibillion-dollar fundraises, said the technology is intended to embed senior partner expertise into a scalable AI system accessible across its global legal workforce.
The tool will also be applied to increasingly common structures such as continuation vehicles, where private equity sponsors restructure or extend ownership of portfolio companies through new fund arrangements.
Firm representatives said the initiative could improve efficiency in complex fundraising processes and potentially shift parts of the legal service model away from traditional hourly billing towards project-based pricing.
The collaboration forms part of Kirkland’s broader plan to invest around $500 million in developing proprietary AI systems for its legal and advisory business, with more than $100 million expected to be deployed this year alone.
While many law firms are developing internal AI capabilities, the scale of Kirkland’s investment is among the largest disclosed in the legal sector. The firm said external technology partners are involved in development but will not have access to confidential client data.
Palantir Technologies, which has faced political scrutiny in both the US and UK over its government contracts and data work, will provide the underlying technology infrastructure for the system.
The move reflects intensifying competition among major law firms to integrate AI into high-value advisory services, particularly in private markets work, where firms such as Kirkland act as key intermediaries between sponsors and institutional investors including pension funds and sovereign wealth funds.
Kirkland said the system incorporates institutional knowledge and evolving client engagement practices, including more recent changes in how the firm interacts with limited partners during fundraising negotiations.
The initiative also highlights a broader industry trend, with other major law firms exploring whether to develop proprietary AI platforms or partner with external providers, as legal services increasingly adopt automation for document-heavy and repeatable processes.
