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Nearly half of RIAs now allocate 10% or more of AUM to private markets, and 81% expect to hold or exceed that level within five years (KKR, 2025 RIA Survey). Every one of those allocations creates a reporting need. For wealth management software companies, it also creates a product opportunity: private markets analytics customers will pay for.
In this article, we’ll cover four ways software platforms can turn private fund data into revenue, what the economics can look like, and how licensing compares to building the data in-house.
The Next Revenue Line for Wealth Tech
Most wealth management software earns revenue through subscriptions, enterprise licenses and add-on modules. Growing from an existing customer base means giving customers something new to pay for.
Private markets analytics fits that need. A family office platform may already aggregate holdings, track capital calls and calculate returns. It usually can’t say whether a private credit fund is beating its peers or where a buyout manager ranks for its vintage. That’s a capability customers will value.
Four Ways to Monetize Private Markets Intelligence
1. Launch a Premium Analytics Module
Package benchmarking as a paid tier, for example a “Private Markets Intelligence” add-on with:
- Private fund benchmarking by vintage year
- Private equity, private credit and real estate peer comparisons
- Quartile and percentile rankings
- Manager performance analysis
What the economics can look like: Take a platform with 1,000 existing customers. If 20% adopt a premium module priced at $3,000 a year, that’s 200 new paying customers and $600,000 in new annual recurring revenue. (Hypothetical example before licensing, development and support costs. Not based on Dakota pricing.)
2. Offer White-Label Benchmarking
Put benchmarking inside your platform under your own brand. An advisor enters a fund’s asset class, strategy, vintage, IRR and TVPI and gets a peer comparison without leaving your interface. You can include it in a higher subscription tier or sell it to enterprise clients.
Thinking about a premium analytics module? Dakota powers private fund benchmarks across 18,000+ funds for software partners. Explore Benchmarking Partnerships →
3. Upgrade Portfolio Reporting
A report that says a fund has a 14% IRR is standard. A report that shows the same fund against its vintage peer median, with a quartile rank, is a premium deliverable. Platforms can charge for:
- Benchmark-enhanced quarterly reports
- Manager-level relative performance summaries
- Investment committee packages with peer context
4. Move Upmarket
Larger RIAs, multi-family offices and OCIOs have bigger private markets portfolios and more demanding analytics needs. An institutional package with multi-asset-class benchmarking, historical analysis and API data delivery can help a platform win larger contracts and raise average contract value.
Why Licensing Beats Building on the Economics
Building a private fund performance database means paying for data sourcing, standardization, classification and quarterly maintenance before the first module sells. Licensing changes the math:
- Faster time to revenue: Launch the module without years of data work.
- Lower fixed cost: No in-house research operation.
- Focused engineering: Your team builds the product experience.
- Scalable revenue: Sell the module across your whole customer base.
- Stronger retention: Customers get more reasons to stay.
The final economics depend on licensing terms, integration costs, adoption and pricing.
Partnership Models
Dakota works with software partners on several models, depending on the platform’s size and goals:
- Annual enterprise API license: for large platforms with broad user bases
- Embedded Peer Group Builder: for platforms that want a ready-made tool in their interface
- White-label analytics: for platforms launching a branded premium module
- Usage-based API: for emerging fintechs testing demand
- Dataset license: for research and product development teams
Turn Private Markets Data Into Revenue
Dakota’s research team maintains performance data on 18,000+ private funds, so your platform can launch private markets analytics without building the data operation behind it. Partners use Dakota data to:
- Launch premium benchmarking modules
- Add peer comparisons to client reports
- Build institutional analytics packages for larger clients
Talk to Our Partnerships Team →
