Vilmar Feenstra, Partner at Loyens & Loeff, on AI Governance and Fund Documentation

Vilmar Feenstra, Partner within the Investment Management practice at Loyens & Loeff in Amsterdam, joins The Agentic Allocator to discuss AI adoption across fund formation and fund documentation for GPs and LPs. He covers the legal risk of AI answers that are accurate but incomplete, why AI needs to understand how fund documents connect, and why he expects fund documentation to address AI use explicitly. He also shares what his team learned building a fund review agent over several years. You'll Learn: Why a correct AI answer can still be incomplete from a legal perspective Why governance on tools, users, sign off and data comes before tool selection Why AI needs to be guided on how LPAs, side letters and subscription documents connect Why fund documentation is likely to include explicit AI provisions How approved tool lists address shadow AI use What building a fund review agent over several years taught the team A practical sequence for LPs and GPs early in their AI adoption YouTube Chapters: [00:00] Introduction and Guest Background [01:56] Building Technology From Frustration [04:35] The Legal Risks of AI Output [06:06] Confidentiality and Governance [07:29] Guardrails and Experimentation [08:34] Data Organisation and Document Context [10:05] AI Provisions in Fund Documentation [11:40] Early Movers and Slower Adopters [13:06] Shadow AI and Approved Tools [13:37] Fresh Perspectives From Earlier Career Team Members [14:37] Building the Fund Review Agent [15:53] Advice for LPs and GPs Starting Out [17:21] Closing Remarks If you enjoyed this conversation, make sure to subscribe, rate, and review on Apple Podcasts, Spotify, and YouTube. Disclaimer: This video is for informational purposes only and does not constitute legal advice. The views expressed are those of the speakers as of the recording date and may change over time.