Flagship paper
How managers run one record from research to reporting
Keep research, diligence, committee decisions, ownership and reporting connected across manager workflows.
By Katriona Lee, Reuben AI. Last reviewed .
The short answer
Managers run one record by carrying source-linked findings from research into diligence, committee decisions, ownership reviews and investor reporting. Each stage adds accountable interpretation without discarding the evidence or prior rationale. The workflow varies by mandate and asset class, but the connection between what was known, what was decided and what changed should remain visible.
- 01
Open the research record
Market research and early signals start the deal record.
- 02
Deepen the same evidence base
Diligence adds to that record instead of starting a new file.
- 03
Carry authority into ownership
Committee conditions and owners move with the deal.
- 04
Report from reviewed evidence
Investor reporting drawn from the reviewed record.
Evidence stays linked through every step; judgement stays human.
Build the record, step by step
Open the research record
Identify the opportunity, sources, dates and mandate fit. Preserve why it entered the pipeline as well as reasons to stop, so a later team does not mistake initial interest for an investment conclusion.
Deepen the same evidence base
Add diligence findings, unresolved questions and structure-specific terms. Distinguish asset, deal, vehicle, fund and manager evidence rather than flattening different risks into a single company summary.
Carry authority into ownership
Link the committee decision, conditions and responsible people to the ownership record. A new team member should be able to find why the investment was made without searching meeting attachments.
Report from reviewed evidence
Use current, reviewed findings for the appropriate reporting audience while retaining the approved historic versions. Record differences between investment-team interpretation and externally supplied reporting inputs.
Common mistakes
- Creating a disconnected workspace at every lifecycle handover.
- Assuming all manager types need identical diligence depth.
- Treating generated prose as reviewed investment evidence.
Explore the section
Use these focused pages for the workflows and audiences within this paper.
Questions and answers
Does one record mean one document?
No. It means linked evidence, findings, decisions and responsibilities. Separate documents and audience-specific outputs can draw on that record.
Can the workflow vary by manager type?
Yes. A credit mandate, buyout fund, search fund and corporate investment team have different evidence requirements and decision authorities.
How does this relate to six-level diligence?
The six levels identify where evidence and risks belong. The manager workflow carries the relevant levels through the investment lifecycle rather than treating them as isolated exercises.
Does Reuben AI make investment decisions?
No. Reuben AI links evidence, findings and decision rationale; judgement stays human. Accountable investment teams and committees make the decisions.
Where is data stored?
Data residency is Australia by default. Other regions are available for enterprise clients and partners only.
Reuben AI is built as one linked record across all six levels of private markets. See it on your own deals, or explore what it could add for your platform's clients.
Read next: The six levels of private markets diligence or browse the Resource Hub.