Treasury Management Trends at Private Markets Firms: Deal Team Collaboration, Agentic AI and More

Hazeltree recently hosted a roundtable, invite-only dinner in London, where we gathered finance, treasury and digital transformation leaders from across the private markets industry to share how their organisations are rethinking the role of treasury. Among the trending topics, leaders discussed moving the treasury function from back-office to a strategic driver of operational and investment performance. The conversation surfaced many themes, but we have decided to highlight the following four that are shaping the direction of the market.

Treasury Moving Closer to the Deal Team

There is a growing recognition that treasury should not operate in isolation. Leaders described a deliberate shift to bring treasury capabilities closer to investment and deal execution teams - improving coordination at critical moments and, more importantly, enabling real-time balance sheet optimisation. When the treasury function has visibility into deal flow and vice versa, organisations can make faster, better-capitalised decisions.

Agentic Workflows are Arriving in Treasury

Treasury management systems are increasingly being deployed alongside model context protocol (MCP) orchestration layers to enable agentic, AI-driven workflows. This is not a future aspiration - participants are actively building these integrations today. The result is faster decision-making with fewer manual touchpoints, positioning the purpose-built treasury management system (TMS) (https://hazeltree.com/product/treasury) as a genuine AI enabler rather than a system of record alone.

Centralisation as an Answer to Fragmentation

Many firms are grappling with an increasing number of strategies and geographies, which can create fragmented operating structures. This also impacts treasury functions spread across multiple teams, systems and strategies that operate with limited visibility into one another. Leaders described moving toward centralised platforms that consolidate balances and cash requirements across corporate and fund treasury, overlaid with unified rules, permissions and workflows defined at the firm level. This brings consistency without sacrificing the flexibility different parts of the business need.

Hazeltree recently published a white paper on Navigating the Landscape of Private Markets Consolidation: How Treasury Technology Bridges the GP Integration Gap (https://hazeltree.com/resource/private-markets-consolidation-landscape) for your further reading and consideration.

GPs Are Taking Back Control of Treasury

General partners (GPs) - particularly those working across multiple fund administrators - are increasingly unwilling to leave treasury oversight entirely with their admins. Participants described a clear appetite to own the treasury function directly, gaining strategic control and cross-fund visibility. In practice, this means GPs are requiring fund administrators to operate within the GP's chosen platform when handling treasury functions, rather than relying on the admin's own tools.

Conclusion

We are already looking forward to the next gathering of accomplished professionals in this space.

If you are interested in joining the next private roundtable gathering or exploring how Hazeltree can be leveraged as an accelerator on any of these topics, please get in touch. (https://hazeltree.com/book-a-demo)

Many thanks to Michelin Starred KOL for hosting us!