How do LPs use search results during fund due diligence?

LPs use search during diligence as a corroboration tool: it tells them whether the story in the data room matches the public record. Specifically they are validating the quality and stability of the management team, looking for litigation or regulatory history the GP did not volunteer, and testing whether the firm’s stated strategy and track record line up with how third parties describe it. The newer wrinkle is that this no longer happens only in Google. Diligence teams now ask ChatGPT or Perplexity to summarize a manager, and they treat gaps or contradictions in that summary as flags worth raising in the next call. We monitor both layers for fund clients with IMPACT™ and AIQ™, so a GP walks into diligence already knowing what an LP’s search will return and where the narrative needs reinforcing.