The Private Markets Responsible AI Accord
The Private Markets Responsible AI Accord — pmraccord.org Founding Cohort Applications Open · 2026

Responsible AI Governance. Built for Private Markets.

The Private Markets Responsible AI Accord brings together GPs and portfolio companies to build responsible AI governance standards purpose-built for private markets — policy templates, regulatory intelligence, and LP-ready documentation within 60 days.

Member-governed · Chatham House confidentiality · Six practitioner sessions annually · Founding cohort: 6–8 firms

75%
of portfolio companies lack fully implemented AI governance programs
Aug '26
EU AI Act full enforcement for high-risk AI systems
60 days
to LP-ready documentation after joining
6–8
founding member slots remaining

Year 1 Deliverables

Responsible AI Policy Template

Regulatory Intelligence & Heat Map

AI Risk Assessment Toolkit

LP Disclosure Package

AI Vendor Selection Criteria

Founded 2026 · Applications Open Now Register Here Explore the Framework
Why Now The Regulatory & Market Context

LP Pressure Is Accelerating

AI governance questions now appear in ILPA DDQs and are being drafted into LPAs. The PRI has launched a dedicated Private Equity Advisory Committee for responsible AI.

Binding Regulation Is Here

EU AI Act, Colorado AI Act, South Korea AI Basic Act, and 10+ US state laws impose real obligations. US federal agencies issued 59 AI regulations in 2024 — more than double 2023. (Stanford HAI)

Fiduciary Duty Demands Action

Harvard Law Forum and Ropes & Gray confirm failure to oversee AI tools may constitute a breach of fiduciary duty. AI-washing mirrors earlier greenwashing enforcement risk.

2–4×

EBITDA uplift at exit

Every $1 invested in AI transformation at the portfolio company level can deliver an annualized EBITDA uplift of 2–4× at exit. (Accenture Private Equity Mid-Market AI Research, 2025)

Year 1 Deliverables

Full Program
Deliverable
Key Attributes
01
Responsible AI Policy Template
Modular, jurisdiction-aware policy covering all 12 convergent themes, including GenAI: hallucination controls, shadow AI policy, approved tool registers, and agentic AI addendum. LP-ready annex included.
All 12 ThemesGenAI AddendumLP-Ready Annex
02
Regulatory Intelligence & Heat Map
Continuously updated analysis across 15+ jurisdictions, updated quarterly. Portfolio-level heat map by jurisdiction, AI type, risk tier, and enforcement timeline.
15+ JurisdictionsQuarterly Updates
03
AI Risk Assessment Toolkit
Pre-investment DD checklist aligned with NIST AI RMF tiers. Post-investment portfolio assessment with four-tier maturity model and LP roll-up reporting template.
NIST AlignedFour-Tier Maturity
04
LP Disclosure Package
Ready-made AI governance statement, DDQ response language, and LPA AI provision guidance aligned with PRI reporting expectations. Members LP-ready within 60 days.
LP-Ready in 60 Days
05
AI Vendor Selection Criteria
Procurement requirements for third-party AI vendors. Contractual clause library and GPAI tier mapping.
Clause LibraryGPAI Tier Mapping
Representative LP Question — Annual ESG Questionnaire, 2025
"Can you describe your firm's policies and practices regarding the responsible use of artificial intelligence, including governance oversight, risk management, and any applicable AI use restrictions?"

Through The Private Markets Responsible AI Accord, members have a credible, documented answer — backed by a published framework, peer benchmarking, and LP-ready documentation — within 60 days of joining.

Founding Cohort · 6 to 8 Organizations

Applications Are Open Now.

Register Here Who Should Join?
The Framework

12 Convergent
Themes.

Derived from synthesis across 12 major global standards. Four themes achieve universal coverage — the non-negotiable core of any defensible responsible AI policy for private markets.

Built for
Private Markets

Existing frameworks were designed for technology companies and regulators — not for GP fund operations or LP reporting. The Accord addresses the unique GP–LP–portfolio chain simultaneously.

How Themes
Were Identified

Motive Development, Inc.'s research team conducted a comprehensive synthesis of the global responsible AI landscape. Four themes appear in every framework reviewed. Eight apply by jurisdiction, AI type, and sector.

Synthesis
Across 12 Standards

EU AI Act · NIST AI RMF · ISO/IEC 42001 · OECD AI Principles · G7 Hiroshima Code · MAS AI Risk Toolkit · UK FCA · UNESCO AI Ethics · WEF RAI Playbook · AIMA · Harvard Corp Gov · PRI PE Advisory

Core Themes Universal Coverage — Non-Negotiable
01

Transparency & Explainability

AI systems used in investment or LP reporting must be explainable. Black-box models create fiduciary exposure. Required under EU AI Act, NIST AI RMF, and ISO/IEC 42001.

02

Human Oversight & Accountability

Named individuals must own AI systems used in consequential decisions. Human-in-the-loop required for GenAI outputs in investment memos and LP reports.

03

Bias Testing, Fairness & Non-Discrimination

Deal screening and HR AI can perpetuate discrimination. Annual bias audits mandated under NYC Local Law 144, EU AI Act, and Colorado AI Act.

04

Impact & Risk Assessment (Pre-Deployment)

Pre-deployment validation and risk classification required under NIST AI RMF, EU AI Act, and ISO/IEC 42001. The Accord's toolkit provides a structured pre-investment DD checklist.

Extended Themes Exposure-Based · Apply by Jurisdiction & AI Type
05
Risk-Based Classification & Proportionality
Applies under EU AI Act tiered risk classification. Proportionate governance based on AI system risk level.
06
Data Governance & Privacy
Training data quality, GDPR Article 22, data minimization, and retention controls.
07
Lifecycle Monitoring & Incident Management
Model drift monitoring, revalidation schedules. Required under G7 Hiroshima Code and EU AI Act.
08
Third-Party & Supply Chain Governance
Vendor-embedded AI due diligence, foundation model assessment, contractual controls.
09
Board-Level Governance Structure
40% of companies now charge a board committee with AI oversight — up from 11% in 2024.
10
Documentation & Audit Trails
Prompt and output logging, system documentation under EU AI Act and SEC 2026 Exam Priorities.
11
Environmental Sustainability
Compute resource consumption, energy use of AI workloads, alignment with ESG commitments.
12
Stakeholder Engagement & Redress
Grievance mechanisms for AI-affected individuals, disclosure obligations to employees and customers.
Source Frameworks Synthesized from 12 Global Standards
EU AI Act (2024)NIST AI RMF 1.0ISO/IEC 42001:2023OECD AI PrinciplesG7 Hiroshima CodeMAS AI Risk ToolkitUK FCA FrameworksUNESCO AI EthicsWEF RAI PlaybookAIMA AI GuidanceHarvard Corp GovPRI PE Advisory

The Accord does not serve as an agent, representative, or partner of any standard-setting body. References to external frameworks represent the Facilitating Partner's independent synthesis and interpretation.

Regulatory Context PE Firms Are Already in Scope
Jurisdiction / LawStatusPE Relevance
EU AI ActFull enforcement Aug 2026Direct exposure for portfolio companies in credit, HR, marketing AI. Penalties up to 7% global turnover.
Colorado + 10 US State LawsEffective June 2026High-risk AI governance, algorithmic discrimination prohibition, annual bias audits. SEC 2026 Exam Priorities explicitly call out AI.
South Korea AI Basic ActIn force Jan 2026Extraterritorial reach — affects cross-border portfolio companies with Korean market exposure.
MAS AI Risk Toolkit (Singapore)March 2026Covers traditional, generative, and agentic AI. Applies to SG-licensed financial services portfolio companies.
ISO/IEC 42001 + NIST AI RMFCertifiable nowLP and buyer due diligence increasingly require ISO 42001 certification roadmap.

Ready to Build Your Policy?

Join the founding cohort and receive all five Year 1 deliverables.

Register Here
The Program

Six Sessions.
Five Deliverables.

Six 90-minute practitioner sessions, Chatham House rules. Each session builds a component of your responsible AI program. Five practical deliverables produced in parallel for immediate use.

Session Structure Six 90-min sessions annually · Chatham House confidentiality
01
Assess
Where Are We Now?
AI inventory methodology, baseline data from peer cohort, introduction to the 12-theme framework and AI types primer.
02
Inventory
Mapping AI Use
Complete your firm-level AI inventory by AI type. Peer sharing of GenAI, ML, and agentic AI use cases.
03
Govern
Governance Structure
Accountability models, policy template walkthrough including GenAI section, governance design for the GP–portfolio chain.
04
Mitigate
Risk Management
AI risk taxonomy including GenAI-specific risks (hallucination, shadow AI, fiduciary exposure), risk matrix completion, vendor DD.
05
Disclose
LP Reporting
LP disclosure package drafting, DDQ and LPA AI provision guidance, alignment with PRI reporting expectations.
06
Evolve
Year-End & Roadmap
Member showcase, aggregate progress, Year 2 agenda. Annual Benchmark Report publication.

Year 1 Deliverables

Five practical tools for immediate use
Deliverable
Key Attributes
01
Responsible AI Policy Template
Modular, jurisdiction-aware policy covering all 12 convergent themes, including GenAI: hallucination controls, shadow AI policy, approved tool registers, prompt logging, and agentic AI addendum. LP-ready annex included.
All 12 ThemesGenAI AddendumLP-Ready Annex
02
Regulatory Intelligence & Heat Map
Continuously updated analysis across 15+ jurisdictions quarterly. Portfolio-level heat map by jurisdiction, AI type, risk tier, and enforcement timeline.
15+ JurisdictionsQuarterly Updates
03
AI Risk Assessment Toolkit
Pre-investment DD checklist aligned with NIST AI RMF tiers. Post-investment portfolio assessment with four-tier maturity model and LP roll-up reporting template.
NIST AI RMFFour-Tier Maturity
04
LP Disclosure Package
Ready-made AI governance statement, DDQ response language, and LPA AI provision guidance aligned with PRI expectations. Members LP-ready within 60 days.
LP-Ready in 60 Days
05
AI Vendor Selection Criteria
Procurement requirements for third-party AI vendors. Contractual clause library and GPAI tier mapping.
Clause LibraryGPAI Tier Mapping
Timeline
PhaseTimelineKey Activities
FormationJune 2026Founding member confirmation, charter ratification, kickoff session
DiscoveryJune–July 2026Regulatory mapping; AI landscape survey across member firms; deliverable scoping
DevelopmentAug–Oct 2026All five deliverables developed in parallel workstreams with member input
ReviewNovember 2026Member review period; pilot testing with 2–3 portfolio companies
PublicationDec 2026–Jan 2027Final deliverables published; founding member recognition; inaugural Benchmark Report

Join the Founding Cohort.

Founding member status is limited to 6–8 organizations. Credited by name on all published deliverables.

Register Here
Membership

Who Should
Join.

The Private Markets Responsible AI Accord is open to private companies, including private equity, private credit, venture capital, portfolio companies, and corporates deploying AI in regulated business functions or subject to LP governance reporting requirements.

Eligibility

Private Equity, Private Credit, and Venture Capital Firms

  • ✓Received LP AI governance questions in the past 12 months — or anticipate receiving them
  • ✓EU-domiciled fund operations or portfolio companies subject to the EU AI Act
  • ✓Using GenAI tools in deal sourcing, due diligence, or LP reporting without formal governance
  • ✓PRI signatories or funds with ESG reporting obligations to institutional LPs
  • ✓Mid-market to large-cap funds seeking to get ahead of AI policy before LP questions arrive

Portfolio Companies & Corporates

  • ✓Operating companies in AI-intensive sectors (fintech, healthtech, HR tech, consumer)
  • ✓Companies with EU-market operations subject to EU AI Act high-risk tier enforcement (Aug 2026)
  • ✓Organizations with GenAI tools in production without formal governance or human review protocols
  • ✓Companies responding to sponsor-level AI reporting requirements from PE owners
  • ✓Corporates seeking ISO/IEC 42001 certification pathway and LP-ready governance documentation

Founding vs. General Members.

Founding members join by invitation only. General membership will open to all eligible organizations once the founding cohort has been established and the inaugural workshop commences.

Limited · 6 to 8 Firms

Founding Members

  • ★Co-branding on all published frameworks and deliverables
  • ★Permanent recognition as founding contributors in all Accord publications
  • ★Steering Committee participation for inaugural two-year term
  • ★Direct input into deliverable development and agenda priorities
  • ★Access to all sessions and the full member resource portal
  • ★Founding Member Certificate and inaugural Benchmark Report

Founding member status closes once the cohort of 6–8 organizations is confirmed.

Opens After Founding Cohort

General Members

  • ✓Full access to follow-on workshops, research, templates, and guidance
  • ✓Participation in all quarterly sessions
  • ✓Access to member resource portal and Regulatory Intelligence Reports
  • ✓Annual AI Governance Maturity Benchmark participation
  • ✓Chatham House confidentiality throughout

General membership opens once the founding cohort has been established and the inaugural workshop commences.

Founding Members
Founding Members — To Be Announced

Founding member organizations will be listed here following charter ratification. The founding cohort is targeted at 6–8 organizations. Applications are open at pmraccord.org/apply.

How to Join

01.

Complete the Intake Form

Online application at pmraccord.org/apply. Approx. 15 minutes.

02.

Introduction Call

30-minute call with the Facilitating Partner. Reviewed within 5 business days of application.

03.

Founding Member Confirmation

Receive the Accord charter, founding member agreement, and immediate resource portal access.

Register Here
Participation Commitment
→Completing session pre-work and the annual AI governance maturity survey (10 questions, anonymized)
→Participating constructively in peer discussions in accordance with the Chatham House Rule
→Designating and maintaining a Primary Representative throughout each program year
→Adopting or formally adapting the Accord's core policy template within 12 months of joining
→Sharing anonymized, non-proprietary perspectives on AI governance challenges and practices
About

The Private Markets
Responsible AI Accord.

A global, independent, practitioner-led initiative for responsible AI governance in private markets. Independently governed by members through a Steering Committee of GP practitioners.

Mission

Equipping Private Markets for Responsible AI.

The mission of The Private Markets Responsible AI Accord is to equip private equity firms and portfolio companies with the governance frameworks, policy tools, regulatory intelligence, and practitioner peer community needed to deploy artificial intelligence responsibly — protecting limited partners, portfolio company stakeholders, and the integrity of the investment process.

The Accord is practitioner-led. Its governance frameworks are built by the industry, for the industry.

Independent Governance

The Accord is governed by its members through a Steering Committee of GP practitioners. The Facilitating Partner holds no voting role and retains no authority over framework decisions.

Convergence Mission

Drive convergence around common responsible AI governance standards for private markets — reducing the burden of bespoke LP questionnaires and fragmented firm-level approaches.

Chatham House Confidentiality

All sessions operate under the Chatham House Rule. Members may use information received but may not attribute statements to named individuals or organizations.

Steering Committee

GP Co-Chair

Elected by GP founding members annually. Represents the GP community on framework decisions, deliverable priorities, and member engagement strategy.

GP Members (2–3)

Founding GP firms participate for the inaugural two-year term, following which seats rotate by annual election among all GP members.

Facilitating Partner

Motive Development, Inc. attends all Steering Committee meetings in a non-voting advisory and administrative capacity. The Facilitating Partner may not veto Steering Committee decisions.

"Deliverables are built by the industry, for the industry. The Facilitating Partner does not hold a voting role and does not retain authority over framework decisions."

The Private Markets Responsible AI Accord — Working Group Charter, Article 3.1
Chatham House Rule
"When a meeting, or part thereof, is held under the Chatham House Rule, participants are free to use the information received, but neither the identity nor the affiliation of the speaker(s), nor that of any other participant, may be revealed."
The Royal Institute of International Affairs
Approved LP Language

"[Organization] is a member of The Private Markets Responsible AI Accord, a practitioner-led initiative driving convergence around responsible AI governance standards for private markets."

Approved reference language — Accord Charter, Article 4.5
Facilitating Partner

Motive Development, Inc.

Motive Development, Inc. serves as Facilitating Partner in a pro-bono, non-voting capacity, providing operational support, regulatory research, deliverable drafting, and session facilitation.

KG
Kai Gray
CEO & Co-Founder, Motive Development, Inc.

Responsible for overall strategic direction of the Accord and founding member relationships.

kai@esgmotive.com
TG
Dr. Taylor Gray, D.Phil. Oxford
Co-Founder & Director of Research, ESG & Materiality, Motive Development, Inc.

Leads regulatory research, framework development, and all Year 1 deliverable workstreams.

taylor@esgmotive.com
SS
Suzanne Smetana
Senior Strategic Advisor, Motive Development, Inc.

Leads founding member outreach, LP engagement, and program delivery coordination.

suzanne@esgmotive.com

Questions About The Accord?

Apply to join or reach the team directly at (650) 226-8396.

Register Here
Founding Member Application

Apply to Join.

Founding cohort: 6–8 organizations. Complete the form below — the team will follow up within 5 business days.

✓

Application Received.

Thank you for applying. The team will review your application and reach out within 5 business days.

1
Organization Information
2
Primary Contact
3
Your AI Governance Context
4
Regulatory Exposure
5
AI Governance Readiness & Priorities
1 = No governance in place  ·  2 = Aware, no formal program  ·  3 = In development  ·  4 = Policy exists, no review cycle  ·  5 = Formal policy with annual review
6
Participation Commitment & How You Found Us
Participation Commitments
The Private Markets Responsible AI Accord · pmraccord.org · All information is treated as confidential and will not be shared with other member organizations without explicit consent. Chatham House rules apply. · (650) 226-8396
What Happens Next
Complete this application
Team reviews within 5 business days
30-min introduction call
Founding member confirmation + portal access
Session 01: Assess — inaugural session
Founding Cohort
6–8
Organizations maximum. Founding member status closes once the cohort is confirmed.
Questions?
(650) 226-8396 pmraccord.org/apply