At Benefit Street Partners, a credit-focused investment manager, answering an investment committee's follow-up questions used to take days or weeks. Portfolio manager Anant Kumar says analysts can now turn a round of comments in a day with Codex, and often answer questions during the meeting itself. BSP is using these tools to add more review capacity and rigor to underwriting within the same timeframe, rather than to do more deals.
"I've gone from being just an analyst and a portfolio manager to being a developer as well now. I can build things." — Anant Kumar, Portfolio Manager, Benefit Street Partners. Building his own dashboards, Kumar used to need someone with software expertise to build a website and pull in the data. Now he builds his own tools, using AI to draft code and review it for errors. His tracker uses public SEC filings from business development companies (BDCs) to compare how firms value the same loan.
Kumar built the tracker and used Codex for code review. The first version took a day. After adding features and refining the interface over subsequent weeks, he estimates total development time at 10–12 hours total. His other tool analyzes credit agreements, which are often 300 pages or longer. An uploaded credit agreement takes about 20 minutes to process into a first-pass analysis, followed by an hour or more of human review.
"The quality of my analysis has become so much better and so much faster." — Anant Kumar. BSP is working to connect information across deals, with continuous underwriting as a longer-term aspiration. "Codex has unlocked my day, because I have many more hours in the day to do more high-level work and less routine work," says Kumar.
Source: OpenAI Blog · Summarized by HeadlinesBriefing