Private-markets portfolio management, made autonomous.
The Cerno AI agent reads, standardizes, and validates GP reports and capital-account statements: imported in bulk on day zero, then ingested automatically as they arrive. On that checked foundation runs the analytics an institutional desk expects, from look-through exposure and concentration to Monte Carlo cash-flow forecasting.
From source documents to portfolio decisions
One system covers the chain: document extraction, financial validation, portfolio analytics, and cash-flow forecasting. Four vendor relationships become one.
Validated portfolio data
Source documents in; validated portfolio data out. AI extraction is paired with arithmetic validation: figures are standardized across managers and checked against the fund's own accounting. Breaks and missing data are flagged before anything reaches your portfolio view.
Portfolio analytics
Monitor performance and exposure fund by fund and across the whole portfolio, by manager, strategy, sector, vintage, and geography. Concentration and portfolio-company overlap analysis are built in, and every exposure is tracked over time, so you see how each cut trends, not just where it stands today.
Cash-flow forecasting
Monte Carlo cash-flow simulation, run on the Cerno Stochastic Engine, models capital calls, distributions, and net liquidity across thousands of scenarios. The output is a full distribution of outcomes. Knowing when the portfolio turns cash-flow positive, and how wide the range around that is, is what commitment pacing is built on.
The first day, and every quarter after
No implementation project and no data-entry team. Point the Cerno agent at the documents you already have. It builds the portfolio, then keeps it current on its own.
Rebuilt from the documents you already have
Give the agent the folder or data room where your GP documents live, or an export from whatever system you use today. It reads the full history, categorizes every document, validates the figures, and rebuilds your positions from inception.
Rebuilt from your existing system
Coming off eFront, a proprietary system, or years of spreadsheets, Cerno's team takes the migration end to end, reconstructing your positions from source and reconciling them against your existing records before you sign off. Self-serve or assisted, there's no data-entry project for your team to staff.
Maintained autonomously
The agent watches the inbox or data room where GP reporting arrives. Each new document is ingested, categorized, and cross-checked, and the position updates. The view a decision-maker opens is already current. Nobody on the team retyped a number.
| Date | Document | Status |
|---|---|---|
| 18 Apr | Fund IV · Q1 quarterly report | extracted · validated ✓ |
| 22 Apr | Fund II · capital-call notice | position updated ✓ |
| 30 Apr | Fund IX · distribution notice | cash flow recorded ✓ |
| 06 May | Fund VII · capital-account statement | 1 figure flagged → review |
| 12 May | Fund VII · figure reviewed | reconciled ✓ |
| 27 May | Fund IV · NAV statement | reconciled ✓ |
A portfolio you can interrogate
What you work from: look-through exposure across managers, strategies, sectors, and geographies. The same underlying company is recognized across separate funds, so concentration that a fund-level view would hide shows itself.
Strategy
Region
Sector
Model future calls, distributions, and net liquidity
The Cerno Stochastic Engine simulates the portfolio thousands of times and reports the range: future capital calls, distributions, and net liquidity, with probabilities attached. Beneath the fan sit the figures a liquidity plan actually needs, from peak funding need to the quarter the portfolio turns cash-flow positive.
Seamless access to the answers you need
Exposure overlaps, concentration, pacing: questions that meant an afternoon in spreadsheets, answered in seconds by querying your validated data, each figure sourced to the page it came from.
Where do our managers overlap? Show our largest look-through exposure to any single company held across more than one fund.
Six portfolio companies appear in more than one of your funds. The largest single look-through position:
Reporting shaped to each LP's templates
Validated data earns its keep only when it reaches the room where commitments are decided. Cerno turns it into the reports your committee already reads (quarterly portfolio reviews, commitment-pacing plans, exposure summaries), as finished documents and working spreadsheets, formatted to the templates your team already uses.
Four principles built into the platform
Validation before visualization
A wrong number is worse than no number. Every figure Cerno extracts is arithmetically cross-checked against the fund-accounting identities that have to hold: does the NAV roll-forward reconcile, do the multiples tie out. Exceptions are held back until a human clears them.
Built for the allocator’s side of the table
Every manager reports differently. Cerno standardizes what they send you into a single portfolio data model: an independent, portfolio-wide view of performance, exposure, and future liquidity. Whether you allocate as a family office, endowment, pension, or fund of funds, Cerno works for whoever holds the portfolio, with no ownership or commercial ties to the underlying managers.
Forward-looking
Reported performance shows where the portfolio has been. Cerno adds probabilistic cash-flow forecasting and liquidity analysis, on a standardized data foundation that investment teams use to plan future commitments.
Governed from source to output
Each client's data is isolated from every other client's, access is scoped by role, and every change is logged: actor, timestamp, and before/after state. Any figure can be traced from source document to reported output.
The founding LP program
Founding LPs work directly with Cerno to configure reporting, validation, and forecasting workflows around their own portfolios. Participation includes direct implementation support and the opportunity to shape the platform's development: the workflows, analytics, and reporting formats that come next.
Talk to us about your workflow →Why we built Cerno
I've worked in alternative investments from three different seats (a fintech, a ratings agency, and a bank's fund finance team), and each offered the same view: the analytical rigor public markets take for granted thins out at the border of private markets. Not because the teams lack sophistication, but because fragmented reporting and manual processes put a ceiling on the analysis any team can run. And where serious tooling exists, it is priced and scoped for the largest institutions.
Today, that ceiling is a choice. Reading and reconciling GP reporting, and monitoring the portfolio behind it, are tasks AI can now carry out to an institutional standard, provided every number is checked before it is trusted. No one overseeing a private-markets portfolio should be hunting through PDFs for a figure they could have in seconds.
Cerno exists so they never have to.
Vincenzo Taddeo, Founder
See your entire portfolio in one validated view.
Cerno will launch with a limited group of founding LPs, who will shape what the platform becomes. Request early access to be among them.
Prefer to start with a conversation? Reach us at hello@cernoplatform.com