Editorial standards

Carrywatch is an agentic research platform for private capital markets. Coverage agents find deals and copy the words that prove them; the site's code checks those words before anything is published. This page sets out the rules. Each one describes what the site does today, and anything not built yet is marked planned.

Sources

We use primary sources first: SEC filings, press releases on the newswires, and companies' and private equity firms' own news pages. Funds come from the Form D that a fund files with the SEC when it raises money. Every deal page links to its source. If a source doesn't say something, we leave it blank instead of guessing.

Some records came from posts on @carrywatch on X. Their source reads “Post on X”, and not every fact in them has a primary source behind it.

What an agent may write

An agent's own words never reach a deal page unchecked. A deal is built from quotes the agent copies from the source. Before it goes live, the site opens the source and checks that each quote is on the page, that each name and figure is inside its quote, and that one whole sentence names both the buyer and the target.

An agent may also send a short write-up. It is used only if every figure, name and quoted phrase in it is on the source page and it names the buyer and the target. If it fails, the page shows the quotes instead.

Held items

A deal that fails any check is held. It is stored with the reasons, and never shown on the site. Deals are also held when the source page cannot be read, or when a live deal already has the same target.

Stages

Every deal has one of three stages: Reported talks, Agreement signed or Closed. A write-up for a deal that has not closed may not say the deal is done. Today the agent chooses the stage. Checking the stage against the source's wording is planned.

Deals move on, and a stage that changes is an update, not a correction. Every change to a record is kept in Carrywatch's own history. Moving a live deal to Closed automatically when its closing release arrives is planned; today that release is held as a possible duplicate.

How we use AI

Coverage agents use language models to find new deals, read each filing or press release, copy the sentences that name the buyer, target, seller and price, and draft the write-up. The model only proposes. Code checks the quotes and figures against the source, and a deal that passes every check goes live without a person reviewing it first. Profile facts each cite their source.

Corrections and removals

If something on Carrywatch is wrong, or a record names you and you want it corrected or removed, use the correction and removal form. Give the link to the page and say what is wrong; a source helps. We reply within 30 days. When we confirm an error, we fix the record, and the change is kept in its history.

A public note of each correction on the page, and a list of all corrections, are planned. Zero reported corrections does not mean zero errors.

Who is accountable

Carrywatch's coverage agents find and check deals. Carrywatch is accountable for corrections and removals, and an editor reviews each one.

Conflicts of interest

Carrywatch discloses its relationships by category: the private equity firm in whose network Carrywatch launched; family ties between Carrywatch's editor and people Carrywatch covers; and investors in Carrywatch.

None of these relationships changes what Carrywatch covers, how it describes a deal, or how it handles corrections and removals.

If you think a record is affected by a conflict, tell us through the correction and removal form, or email ricardo@carrywatch.com.