Data sourced from Joe, the private fund performance platform powered by Dakota. Learn More | Request Access
Evergreen funds have moved from a niche structure to a mainstream capital formation tool across private equity, private credit, and real estate. Open ended and permanent capital vehicles let sponsors deploy and recycle capital continuously rather than working against a fixed fund life, giving investors ongoing access instead of a one time commitment window.
For allocators, evergreen structures offer a way to build a standing allocation to a strategy without re-underwriting a new vintage every few years, though that convenience comes with its own diligence questions around gating provisions, NAV pricing, and redemption terms. For sponsors, evergreen vehicles support a more predictable fundraising cadence and reduce the pressure to force exits on a fund clock.
At Joe, powered by Dakota, we track evergreen funds with the details investors need to evaluate each vehicle. Joe covers product structure, asset class, sub-asset class, and fund AUM, giving investors, advisors, and fund managers a current view of this segment.
Below, we highlight the top evergreen funds added to Joe, powered by Dakota in July 2026, with a closer look at each manager, the underlying strategy, and what the vehicle reflects about how permanent capital structures continue to expand across private markets.
1. Mirvac Wholesale Office Fund
Overview: An unlisted wholesale co-mingled real estate fund managed by Mirvac Group, investing in a portfolio of high quality, prime and premium commercial office assets across Australia's core CBD markets. The fund maintains low gearing and a strong credit rating through active capital management.
Focus: Core Australian CBD office real estate through an open ended, co-mingled wholesale structure.
2. NYCERS Evergreen Emerging Manager Program
Overview: A perpetual private equity allocation managed as a separate account for the New York City Employees' Retirement System, committing capital annually to emerging private equity managers across buyout, growth equity, and secondary strategies.
Focus: Ongoing capital commitments to first time and developing private equity managers.
3. Castlelake Asset-Based Private Credit III Evergreen C, L.P.
Overview: An active private credit vehicle managed by Castlelake, using an open ended sub-tranche framework to invest globally in diversified pools of small-to-mid-ticket commercial loans, consumer financing paper, and asset backed originations.
Focus: Global asset based private credit targeting reliable running yield.
4. Monroe Capital Evergreen Private Credit Fund LP
Overview: A private credit vehicle managed by Monroe Capital Management Advisors LLC, focused on U.S. national lending opportunities within financials focused special situations strategies.
Focus: U.S. private credit special situations in the financials sector.
5. Marathon ABL Evergreen Fund, L.P.
Overview: An open ended vehicle managed by Marathon Asset Management, providing exposure to North American asset based lending and secured credit through a U.S. fixed income, bank loan focused structure.
Focus: North American asset based lending and secured credit.
Uncover Evergreen Fund Market Intelligence with Joe, Powered by Dakota
Joe gives investment firms direct visibility into the evergreen and permanent capital fund universe, including:
- Fund-level data on product structure, asset class, and sub-asset class
- Coverage of open-ended vehicles across private equity, private credit, and real estate
- Fund AUM and manager profiles for ongoing, non-vintage capital commitments
- Filters by strategy, geography, and sponsor
- Real-time updates on fundraising activity and capital flows
About Joe
Joe, powered by Dakota, is a private fund performance and benchmarking platform tracking Net IRR, TVPI, DPI, and RVPI across 16,000+ private funds spanning private equity, private credit, real assets, and venture capital. Joe gives allocators, consultants, and GPs a single source for fund-level performance, evergreen and interval fund coverage, and GP intelligence — queryable directly through the platform or via native connectors in Claude, ChatGPT, and CoPilot.
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