Top Ways LPs and GPs Use Evergreen Performance Benchmarking Data in Joe, Powered by Dakota

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Evergreen funds are growing quickly across private equity, private credit, real estate, and hybrid strategies.

Adoption is accelerating.

But benchmarking hasn’t caught up.

There isn’t a centralized source for evergreen performance data. If you want to evaluate these vehicles properly, your team typically has to dig through Form D filings, pull performance disclosures, figure out the structure, and standardize inconsistent reporting.

It’s manual. It takes time. And it’s not scalable.

Joe, powered by Dakota Marketplace, removes that friction by consolidating and organizing evergreen performance data into a structured, benchmark-ready dataset.

In this article, we're discussing how Joe consolidates evergreen fund performance into a structured, benchmark-ready dataset, and how LPs and GPs are actually using it. By the end, you'll know exactly what's tracked, how it's sourced, and where to find it.

How LPs Use Evergreen Performance Benchmarking Data

Evergreen funds create opportunity, but they also introduce complexity. The structure is different from traditional closed-end vehicles, which means benchmarking requires a different approach.

Joe supports LP workflows in a few practical ways.

1. Peer Benchmarking Across Evergreen Strategies

LPs use Joe to compare evergreen funds across the strategies they actually invest in: private credit, private real estate, private equity, hedge funds and liquid alternatives, venture capital, and other strategies including fixed income, real assets, and infrastructure.

Because performance metrics are standardized and reviewed by Joe’s research team, allocators can evaluate vehicles side-by-side instead of piecing together data from multiple documents. It makes screening faster and peer comparisons more consistent.

Benchmark evergreen performance across asset classes in minutes. Request access to Joe.

2. Liquidity and Structure Comparison

Not all evergreen funds are built the same. LPs can analyze structural differences between interval funds, Business Development Companies (BDCs), tender offer funds, and other perpetual vehicles.

Redemption terms, reporting cadence, and structural mechanics matter, especially when evaluating liquidity exposure. Because evergreen funds don't have a fixed end-of-life like closed-end funds, Joe tracks their performance as annualized returns, YTD, 1/3/5-year, 10-year, and since inception, rather than IRR at fund close. Joe clearly categorizes fund structures so teams don't have to figure it out themselves.

3. Sponsor Expansion Tracking

Many established managers are launching evergreen vehicles alongside traditional closed-end funds. LPs use Joe to identify which sponsors have entered the evergreen market, track expansion across strategies, and monitor sponsor-level rollups.

This helps investment teams understand how a platform is evolving and where capital formation is heading.

4. Investment Committee Support

Because the data is consolidated and standardized, LPs can use Joe to support IC materials, manager comparison decks, allocation pacing discussions, and ongoing monitoring. Instead of manually citing filings, teams can reference organized, benchmark-ready data.

Strengthen your IC materials with standardized evergreen benchmarking data. Request access to Joe.

How GPs Use Evergreen Performance Benchmarking Data

Evergreen vehicles are becoming more competitive. For GPs, understanding the broader landscape is just as important as understanding their own performance.

1. Competitive Intelligence

GPs use Joe to see how peers are structuring evergreen products, benchmark reported performance, identify new entrants in the evergreen space, and monitor capital formation trends. Because Joe aggregates data across all 314 tracked evergreen and interval vehicles, managers gain real visibility into the competitive environment.

2. Product Strategy and Structuring

As perpetual capital becomes a larger part of private markets distribution, managers need context around liquidity frameworks, strategy positioning, and target investor segments. Joe’s evergreen dataset helps sponsors see how the market is evolving, and where their product fits.

3. Performance Positioning

Relative performance matters, especially during fundraising and ongoing investor conversations. GPs can benchmark evergreen performance metrics against peers across strategy and structure classifications. That insight supports clearer, more informed positioning.

Understand where your evergreen vehicle stands in the competitive landscape. Request access to Joe.

The Evergreen Data Advantage

Before Joe, benchmarking evergreen funds meant searching Form D filings manually, classifying structures independently, extracting performance data, reformatting inconsistent disclosures, and repeating the process over and over.

Joe does that work instead. The Evergreen & Interval Fund dataset includes:

• Strategy classification across private equity, credit, real estate, venture capital, hedge funds/liquid alts, and other vehicles
• Fund structure labeling (interval, BDC, tender offer, perpetual)
• Standardized annualized performance metrics (YTD, 1/3/5/10-year, since inception)
• Sponsor-level rollups
• Regulatory filing history
• Continuous updates as new filings and manager submissions come in

Unlike a dataset built purely from scraped filings, Joe’s evergreen and interval fund records are dual-sourced: public filings from SEC disclosures, Form D, and pension filings, combined with direct manager submissions through Dakota's GP relationship network. A 60+ person data team reviews and reconciles both streams before anything is published, which is what keeps the dataset current rather than stale the moment a fund stops filing.

Start Benchmarking Evergreen Funds Before the Category Outgrows Ad-Hoc Research

Evergreen funds are becoming a structural part of private markets distribution. Institutional investors and wealth platforms are increasing exposure. Sponsors are launching new perpetual vehicles at scale.

As the category grows, benchmarking becomes necessary. Transparency isn't optional. It's part of staying competitive.

Ready to benchmark evergreen funds without digging through filings? Request access to Joe and explore the dataset live.