Gui Costin, Founder & CEO · August 17, 2026
Data sourced from Joe, the private fund performance platform powered by Dakota. Learn More | Request Access
Fund managers preparing a data room for a new close still spend weeks assembling performance history by hand, pulling numbers from LP letters, PDFs, and whatever a placement agent happens to have on file. Allocators trying to benchmark a manager against peers face the same problem in reverse: performance data for private funds sits scattered across sources that rarely agree with each other, and there has never been an affordable way to see it side by side.
Joe, powered by Dakota, launches today to close that gap.
Joe gives fund managers and allocators performance data on more than 18,000 private funds across asset classes, including private equity, private credit, real estate, infrastructure, and hedge funds. Every fund record ties back into the same account and contact intelligence that powers Dakota Marketplace, so performance data sits alongside the people and firms behind it, not in a separate silo.
Two benchmarking layers come with the dataset:
Joe also tracks funds currently in the market raising capital, so a manager can see not just how peers performed historically but who else is fundraising right now in the same strategy.
Joe pulls performance data from multiple sources and runs every number through a human-in-the-loop review before it enters the dataset. Preqin and PitchBook lean heavily on self-reported figures and automated aggregation. Dakota's data team checks each figure diligently before it's published, which is the same curation discipline the firm has applied to allocator data for nearly three decades, now applied to fund performance.
See how your own funds benchmark against Joe's custom and Dakota benchmark layers. Request access to run the comparison.
Manager selection is under more pressure than it has been in years. Across the past decade, top-quartile buyout funds have generated average IRRs of 24%, against 15% for the S&P 500 and 13% for MSCI World (McKinsey Global Private Equity Report 2026). That spread between top- and bottom-quartile managers is exactly what benchmarking is supposed to catch, and it is widening as the asset class matures.
Distributions to paid-in capital (DPI) has also moved up the priority list. In McKinsey's survey of 300 institutional investors, DPI is now tied with multiple of invested capital (MOIC) as the second most important metric shaping allocation decisions, behind only IRR (McKinsey Global Private Equity Report 2026). Total private capital assets under management grew from roughly $8 trillion to $8.5 trillion in 2025 alone (McKinsey Global Private Equity Report 2026), which means more capital chasing manager selection decisions that increasingly hinge on performance data allocators can actually verify.
That is the problem Joe is built to solve: performance and benchmarking data priced and structured for firms that could never justify a legacy data subscription just to answer "how does this fund actually compare."
A fund manager preparing a data room pulls Joe's Dakota benchmark for their strategy and vintage year first, to see where they stand before a single allocator conversation happens. An allocator doing diligence builds a custom peer set inside Joe, filtering by strategy, vintage, and size, and checks a manager's numbers against that set directly rather than taking the pitch deck's comparison at face value. Both workflows connect back to Dakota Marketplace, so a fund showing up as currently raising capital links straight to the allocator contacts most likely to have interest in that strategy.
Joe is priced at $9,500 per year for up to five users, a fraction of what Preqin and PitchBook charge for comparable performance and benchmarking access. Existing Dakota Marketplace members can add Joe to their account directly, with the same login and no separate onboarding required.
Joe is live now with performance data on 18,000+ private funds across all private asset classes. Filter by asset class, vintage year, strategy, or fundraising status to benchmark a manager or scope a peer set in minutes.
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