A private equity dashboard is a set of standardized views that summarizes fund performance, portfolio company health, capital activity, and investor reporting in a way that supports decisions and communication. It can be internal (for GP teams) or external (for LP visibility through an investor portal), but in both cases, the goal is the same: clear answers that tie back to explainable numbers.
Private equity reporting often breaks down because metrics get redefined across funds, valuations arrive on different timelines, and spreadsheets become the system. A strong dashboard fixes that by enforcing definitions, cadence, ownership, and controls, not just by making charts.
Key takeaways
- You are building two dashboards. One is for running the fund internally. The other is for answering LP questions with consistency and speed.
- Dashboard value depends on metric discipline. IRR, TVPI, DPI, and NAV are useful only when the “as-of date,” net vs gross, and inputs are clearly defined.
- Alternatives lag is normal. Your dashboard should show valuation dates and data freshness so users can trust what they are seeing.
- The best dashboard includes a “data readiness” panel. If you cannot see the reconciliation status and missing inputs, you will eventually publish numbers you cannot defend.
- Build decisions-first. Start with the questions your IC, CFO, ops, and LPs ask every month, then design views and controls around those questions.
What is a private equity dashboard?
A private equity dashboard is a role-based reporting layer that presents the most important fund, portfolio, and investor metrics in a consistent format. It is designed for repeatable use, not one-off quarterly slides.
A dashboard is not the same as a quarterly report pack. A report pack is a distribution artifact. A dashboard is a working tool that helps teams spot issues early and answer questions faster.
Two dashboards you’re really building
Most firms fail because they try to build “one dashboard for everyone.” In practice, you need two.
Internal GP dashboard: run the firm
This dashboard is for GP leadership, finance, ops, and investment teams. It should help you run week to week and close quarter to quarter.
It prioritizes operational visibility, exception tracking, and decision support.
LP dashboard: improve transparency without creating new work
This dashboard is for limited partners and their internal reporting teams. It is often delivered through an investor portal.
It prioritizes clarity, consistency, and fast access to statements, capital activity, and fund-level performance.
Table: internal vs LP dashboards
| Dashboard type | Primary user | Typical cadence | What “good” looks like | Common failure mode |
| Internal GP dashboard | CFO, Controller, COO, IC, ops | Weekly + monthly + quarter-end | Decisions supported and exceptions visible | Looks clean even when inputs are missing |
| LP dashboard | LPs, IR teams, fund admin teams | Quarterly with self-service access | Numbers match official statements | Portal numbers drift from the books |
PE fund administration, simplified
Streamline accounting, reporting, and investor workflows.
The core views most PE firms need
If you try to include everything, you will get a dashboard nobody uses. Start with a small set of views, make them trustworthy, and then add.
1) Fund performance view
This is the top-level view for IC and leadership.
What it should include:
• TVPI, DPI, RVPI (by fund and by vintage if relevant)
• NAV and change since last period
• Performance by strategy sleeve, if you manage multiple strategies
What to get right:
• “As-of” date and valuation source
• Net vs gross consistency
• Currency treatment if you run multi-currency vehicles
2) Cash and liquidity view
This is the view that prevents surprises.
What it should include:
• Called capital to date and remaining unfunded commitments
• Expected capital calls (near-term forecast)
• Expected distributions (near-term forecast)
• Cash runway for management company and fund-level needs
• Upcoming obligations (fees, audit costs, taxes where applicable)
What to get right:
• Distinguish forecast from actual
• Tie expected calls and distributions to a source (budget, schedule, or notices)
3) Capital activity and investor view
This view serves both internal finance and LP reporting.
What it should include:
• Contributions, distributions, and net cash flows by period
• Fees and expenses (management fees, fund expenses, other charges)
• Capital account movement (opening, activity, closing)
• Investor-level rollups where permissions allow
What to get right:
• A consistent fee taxonomy
• Clear mapping between cash movement and accounting entries
• Waterfall and allocation logic must be traceable, not “magic”
4) Portfolio company operating KPI view
This is where investment teams and portfolio operations spend time.
What it should include:
• Revenue and revenue growth
• EBITDA and margin
• Leverage indicators (for example, debt to EBITDA)
• Cash and runway where relevant
• Budget vs actual tracking
• Key non-financial KPIs (only if you actively use them)
What to get right:
• You need a repeatable data collection process from companies
• You need a clear refresh cadence so stale KPIs are obvious
5) Exposure and concentration view
This helps you understand portfolio risk and diversification.
What it should include:
• Top positions and concentration limits (if you use them)
• Sector and geography breakdowns
• Vintage year concentration
• Sponsor, counterparty, or manager concentration for fund-of-funds exposures
What to get right:
• Avoid double-counting across SPVs and parallel vehicles
• Make ownership mapping explicit
6) Valuation status and data freshness view
This is the view that keeps everyone honest.
What it should include:
• Latest valuation date by asset
• Valuation method (high level)
• Assets with stale marks
• Pending valuation events (quarterly statements, valuation committee dates)
What to get right:
• Do not hide staleness
• Label “as-of” dates everywhere
7) Quarter-end readiness and exceptions panel
If you publish numbers, you need this panel.
What it should include:
• Reconciliation status (cash, positions, capital activity)
• Missing statements or missing source documents
• Items pending review or approval
• Exceptions that will impact reporting
What to get right:
• Ownership: every exception needs an owner and a due date
• A sign-off moment for “numbers are ready”
Metrics that belong on the dashboard, and the footnotes you need
Dashboards fail when teams use the same acronym to mean different things. Make the definitions explicit.
Core performance metrics
IRR (Internal Rate of Return)
IRR is the discount rate that sets the net present value of cash flows to zero. It is sensitive to timing and interim valuations.
Use it carefully. Small changes in timing or marks can move IRR meaningfully.
TVPI (Total Value to Paid-In)
TVPI = (Distributions + Residual Value) / Paid-In Capital. It captures realized and unrealized value.
DPI (Distributions to Paid-In)
DPI = Distributions / Paid-In Capital. It measures realized cash back.
RVPI (Residual Value to Paid-In)
RVPI = Residual Value / Paid-In Capital. It measures remaining unrealized value.
NAV (Net Asset Value)
In practice, NAV is the current value of assets minus liabilities, and in PE it is often used as “residual value.” Your dashboard should define which.
Net vs gross is not a detail
You should present performance as gross and net only if you can define the difference cleanly.
If you cannot define it, do not show both. You will create confusion fast.
Metric definition checklist
Use this checklist as a rule. If a metric does not pass, it should not be on the dashboard yet.
Metric definition checklist
• Exact formula used
• Inputs included (and excluded)
• “As-of” date and refresh cadence
• Net vs gross treatment
• Fee and expense inclusion rules
• Currency and FX treatment
• Valuation policy reference for private marks
• Source system of record
• Who owns the metric definition
• When it is considered “final” for a reporting cycle
The build method that prevents dashboard drift
A dashboard is not a one-time project. It is an operating system artifact. Treat it that way.
Step 1: Start with decisions, not charts
Write down the questions your team answers repeatedly.
Examples:
• Are we pacing capital calls in line with our plan
• Which portfolio companies are off-plan and why
• What is our exposure by sector and vintage
• Which funds or deals are driving changes in NAV
• What do LPs ask about most often, and where do we scramble for answers
• Are the numbers ready for quarter-end distribution
Build the dashboard views around these questions.
Step 2: Design the data model and ownership
Define the entities your dashboard must represent.
Typical PE objects:
• Fund
• SPV or co-invest vehicle
• Portfolio company or investment
• Investor and share class
• Capital activity (call, distribution, fees)
• Valuation record
Then assign ownership. If nobody owns “portfolio KPI updates,” the view will die.
Step 3: Define refresh cadence that matches reality
A realistic cadence is better than a fake “real-time” promise.
Examples:
• Cash and bank activity: daily where possible
• Portfolio company KPIs: monthly or quarterly, depending on reporting
• Valuations: quarterly for most private assets
• Capital activity: as events occur, then locked at quarter-end
Always show “as-of” dates.
Step 4: Add controls
Controls are what turn a dashboard into something you can defend.
Minimum controls:
• Reconciliation checks
• Exception queue with owners
• Permissions and role-based access
• Audit trail for changes
• A quarter-end sign-off step
Step 5: Ship v1, then iterate
Version one should answer the top 10 questions well.
If you try to build every possible view in v1, you will stall and lose trust.
Buy vs build: BI dashboards vs purpose-built platforms
There are three common approaches.
Build with BI tools
BI tools can be flexible and visually strong.
They also require a maintained data pipeline, consistent definitions, and ongoing support. If your source data is messy, the dashboard will look polished but be wrong.
Use purpose-built PE systems
Purpose-built platforms often include workflows for fund accounting, investor reporting, and portal delivery.
The tradeoff is that you may be constrained by the platform’s model unless it supports your exact structures.
Hybrid approach
Many firms use a system of record for accounting and investor data, then layer BI for specific executive views.
The key question is always the same: where does the truth live, and how do you tie out the dashboard to official reporting.
Where FundCount fits
For private equity firms, dashboards tend to become trustworthy when performance reporting and investor views tie back to controlled accounting data rather than manual spreadsheet layers. FundCount can support that approach by combining portfolio accounting, partnership accounting, and general ledger workflows in one environment and then producing reporting outputs from that same foundation.
On the GP side, that helps keep capital activity, allocations, and fund-level reporting consistent across vehicles. On the LP side, FundCount’s Reporting and Investor Portal capabilities can support secure delivery of statements and documents, so investors can access the same reporting outputs without separate manual packaging each cycle.
This is most useful when your reality includes multiple entities, multiple funds, co-invest vehicles, and recurring investor questions that require traceable answers.
Common pitfalls and how to avoid them
Pitfall 1: “Nobody trusts the numbers”
This usually happens when the dashboard does not show data freshness or reconciliation status.
Fix:
Add a readiness panel and make “as-of” dates unavoidable.
Pitfall 2: Metric drift across funds and vintages
Different analysts define TVPI or NAV slightly differently, and nobody notices until an LP asks.
Fix:
Maintain a metric dictionary and require approvals for changes.
Pitfall 3: LP dashboard does not match official statements
When the portal uses one dataset and finance uses another, your team spends the quarter explaining differences.
Fix:
Define one system of record and build both views off the same logic.
Pitfall 4: Manual exports become the process
A weekly CSV export turns into your “integration.” It works until it fails.
Fix:
Treat repeatable manual work as a backlog item that must be automated or replaced.
Pitfall 5: The dashboard is too big
If the dashboard tries to serve everyone, it serves no one.
Fix:
Build role-based views. Keep the top layer simple and the drill-down available.
Private equity dashboard FAQ
What is a private equity dashboard?
A private equity dashboard is a set of standardized views that summarizes fund performance, capital activity, portfolio company health, and investor reporting metrics. It is used internally by GP teams and externally by LPs through portal views.
What metrics should a PE dashboard include?
Most PE dashboards include IRR, TVPI, DPI, RVPI, NAV, contributions, distributions, and unfunded commitments. The critical part is defining net vs gross and showing “as-of” dates for valuations.
What is the difference between an LP dashboard and an internal dashboard?
An internal dashboard is built for management decisions and exception handling. An LP dashboard is built for transparency, consistency, and self-service access to investor-specific reporting.
How often should a private equity dashboard update?
Cash and capital activity can update daily or as events occur. Private valuations often update quarterly, and portfolio company KPIs often update monthly or quarterly. Your dashboard should show freshness so users know what is current.
How do you prevent metric drift?
Use a metric dictionary, label definitions clearly, and create a controlled process for changing formulas. You should also tie dashboard numbers back to an auditable source.
What data sources typically feed a PE dashboard?
Common sources include fund accounting and GL data, investor records, bank activity, portfolio company financials, valuation records, and document workflows for capital calls and statements. The best dashboards reduce manual imports over time.
Conclusion
A private equity dashboard is not a design exercise. It is a discipline exercise.
If you separate internal and LP needs, define metrics clearly, show freshness, and put controls in place, the dashboard becomes a tool your teams and investors rely on. If you skip those steps, you get a dashboard that looks good and creates more work.
If you want a practical next step, do this in order: write the top 10 questions your dashboard must answer, define the metrics needed to answer them, and create a simple readiness panel that tells you when the data is safe to use.
