How we make this list: we compare pricing pages, product documentation and public user reviews. Ratings come from G2, Capterra or Trustpilot, with the date we checked them.
Key takeaways
- eVestment, part of Nasdaq, covers 41,000-plus traditional vehicles and 27,000-plus hedge funds, with no public pricing and no free trial.
- Morningstar, Bloomberg, Preqin, and PitchBook anchor the institutional data market, each with different asset-class strengths.
- AlternativeSoft covers 500,000-plus funds from 10-plus providers with portfolio analytics, while iConnections adds direct LP-GP engagement.
- Institutional data pricing is almost entirely quote-based, so budget comparisons need sales conversations, not pricing pages.
Quick comparison
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The best evestment alternatives
Starting priceSee website
Free planNo
Morningstar Direct is the most common alternative to eVestment for manager research, with deep mutual fund data, trusted ratings, analyst research, and broad consultant adoption. Institutional investors and consultants use Morningstar for manager due diligence, selection, and monitoring across traditional assets, with data integrations into eVestment alternatives like AlternativeSoft. For traditional manager research, Morningstar is the default complement or replacement.
Pricing is quote-based with no public tiers, and alternatives coverage runs thinner than eVestment hedge fund data. For traditional manager research at institutional scale, Morningstar Direct is the benchmark.
What we like- Deepest mutual fund and manager data
- Trusted ratings and analyst research
- Broad consultant adoption
Watch out for- Quote-based pricing
- Traditional-asset focus over alternatives
- Learning curve for analytics
Starting priceSee website
Free planNo
Bloomberg Terminal offers real-time market data, news, analytics, and trading across every asset class, with a breadth no other tool here matches. Institutional investors use Bloomberg for live pricing, portfolio analytics, and manager data alongside market coverage, and AlternativeSoft integrates Bloomberg data into its analytics. For firms that need live markets plus manager research in one terminal, Bloomberg is unmatched.
It carries the highest cost in this group with quote-based pricing, and complexity needs training. For real-time institutional data at scale, Bloomberg Terminal is the standard.
What we like- Real-time market data across all asset classes
- Unmatched breadth
- Integrated news, analytics, and trading
Watch out for- Highest cost in this group
- Quote-based
- Complexity needs training
Starting priceSee website
Free planNo
Preqin leads for private markets data, covering fundraising, deals, performance, and investor profiles across private equity, venture capital, real estate, infrastructure, and private credit. Institutional investors use Preqin for private-market manager research and benchmarking, and AlternativeSoft integrates Preqin data into its platform. For private-market allocation decisions, Preqin is the deepest source here.
Pricing is quote-based, and public-fund coverage runs thinner than eVestment traditional data. For private markets research, Preqin is the essential alternative.
What we like- Deepest private markets coverage
- Fundraising, deals, and performance data
- Broad LP and GP adoption
Watch out for- Quote-based pricing
- Private-markets focus over public funds
- Data depth varies by strategy
#4PitchBook
Best for: Private market deal data4.5/5 on
G2 (261 reviews, checked Oct 2026)
Visit pitchbook.com
Starting priceSee website
Free planNo
PitchBook covers private market deal and company data with depth on valuations, exits, investors, and fund performance, particularly in venture and growth equity. Institutional investors use PitchBook for deal sourcing, competitive analysis, and private-market benchmarking, and AlternativeSoft integrates PitchBook data. For deal-level private market research, PitchBook leads.
Pricing is quote-based at enterprise cost, and manager analytics run thinner than eVestment. For private deal data, PitchBook is the top pick.
What we like- Deep private deal and company data
- Valuations and exits
- Strong venture and growth coverage
Watch out for- Quote-based pricing
- Deal focus over manager analytics
- Enterprise cost
Starting priceSee website
Free planNo
AlternativeSoft is the most complete alternative-investment analytics platform here, covering data aggregation, manager screening, portfolio construction, risk management, AI-powered due diligence, and automated reporting in one system. Its database spans 500,000-plus mutual funds, 30,000 hedge funds, and 5,000 raising private equity funds from providers including Bloomberg, Morningstar, eVestment, Preqin, HFR, and PitchBook, with over $1.5 trillion in combined client assets. Users navigate manager risk and return with more than 3,000 statistics, define investible universes with screening tools, and report through Power BI or Excel APIs.
Pricing is quote-based and modular, with demo-led sales and dedicated onboarding. For institutional alternative investment analysis from research to reporting, AlternativeSoft is the strongest single platform.
What we like- 500,000-plus funds from 10-plus providers
- 3,000-plus fund statistics
- Portfolio construction and AI due diligence
Watch out for- Quote-based modular pricing
- Demo-led sales
- Implementation support needed
Starting priceSee website
Free planNo
iConnections is a different motion from eVestment: a year-round LP-GP capital introduction platform with events, meetings, engagement signals, document sharing, and AI matching. Where eVestment shows where assets moved and how peers compare, iConnections shows who wants to meet now: which allocators viewed a profile, searched a strategy, or downloaded materials this week. Institutional fundraising teams often keep eVestment for benchmarking and use iConnections for direct allocator engagement.
It is a relationship platform, not a data database, so it complements rather than replaces eVestment. For fundraising pipelines with direct allocator engagement, iConnections is the essential addition.
What we like- Year-round LP-GP platform plus events
- Live intent signals
- Direct allocator engagement and meetings
Watch out for- Relationship platform, not a data database
- Quote-based pricing
- Complements rather than replaces eVestment
Starting priceSee website
Free planNo
HFR, Hedge Fund Research, provides industry-standard hedge fund indices and a deep hedge fund database used across the institutional market. eVestment alternatives data integrates HFR, and AlternativeSoft includes HFR among its providers. For hedge fund benchmarking against standard indices, HFR is the reference source.
Pricing is quote-based, the focus is hedge funds over other assets, and index licensing costs extra. For hedge fund indices and benchmarking, HFR is the standard.
What we like- Industry-standard hedge fund indices
- Deep hedge fund database
- Long track record
Watch out for- Quote-based pricing
- Hedge-fund focus over other assets
- Index licensing costs extra
Starting priceSee website
Free planNo
Backstop Solutions combines fund operations with CRM for asset managers, covering investor relations, fundraising workflows, and portfolio data in one platform. Data integrations include eVestment, and the platform suits GPs and fund managers that need operations plus relationship management rather than pure analytics. For fund managers running fundraising and investor relations, Backstop covers the operational side that data platforms miss.
Pricing is quote-based, and pure analytics run thinner than eVestment or AlternativeSoft. For fund operations plus CRM, Backstop is the leading pick.
What we like- Fund operations plus CRM in one platform
- Investor relations workflows
- Data integrations including eVestment
Watch out for- Quote-based pricing
- Operations focus over pure analytics
- Implementation planning
How we chose
We compared fund coverage, analytics depth, consultant flow, relationship features, and pricing transparency for each tool, then checked them against recent institutional data comparisons with data verified in 2026. Tools made the list only if institutional investors, consultants, or fund managers can research, benchmark, or engage managers today with a published or widely reported offering. Where pricing sits behind a quote, we used See website rather than printing a contested figure. We also weighed model fit separately, since data databases, analytics platforms, and relationship platforms solve different jobs despite overlapping marketing. We also checked consultant adoption, since a platform consultants already use carries your manager data to more allocators than a technically better tool they never open. Ask each vendor for a trial covering your exact strategies and managers before signing anything final.
Separate data, analytics, and relationships before buying
Institutional teams often buy one platform expecting all three jobs, then discover gaps. Data databases like eVestment, Morningstar, Preqin, and HFR supply manager data and benchmarks. Analytics platforms like AlternativeSoft turn that data into screening, portfolio construction, and due diligence. Relationship platforms like iConnections turn interest into meetings and capital. Most fundraising teams need all three layers, and the best stack pairs a data source with an analytics platform and a relationship tool rather than forcing one vendor to cover everything.
Also confirm coverage for your exact strategies before signing. eVestment traditional data covers 41,000-plus vehicles across the US, Canada, UK, Europe, Australia, Japan, and Asia Pacific, while its alternatives dataset covers 27,000-plus hedge funds and related vehicles. A rival may beat eVestment in one asset class and trail badly in another, so test screening and benchmarking against your actual manager universe during the trial, not against a vendor demo universe. Also verify data freshness and update frequency, since stale manager data misleads selection decisions. Ask vendors how often holdings, performance, and asset-flow data refresh, and whether updates arrive automatically or need manual imports, because a database that lags by a quarter can hide a manager change that matters.
Frequently asked questions
What is eVestment and who owns it?
eVestment, part of Nasdaq, provides institutional investment data, analytics, and market intelligence covering public and private markets. Asset managers and general partners reach the institutional marketplace through the platform, while institutional investors and consultants rely on eVestment for manager due diligence, selection, and monitoring. Its traditional dataset covers 41,000-plus vehicles, and its alternatives dataset covers 27,000-plus hedge funds and related vehicles. Pricing is not publicly listed, and no free version or trial is available.
Which eVestment alternative is best for hedge funds?
AlternativeSoft leads for hedge fund analytics with 30,000 hedge funds in its database, 3,000-plus statistics, and AI-powered due diligence, while HFR provides the industry-standard hedge fund indices. eVestment own alternatives dataset covers 27,000-plus hedge funds. For hedge fund research plus benchmarking, pair AlternativeSoft analytics with HFR indices. Also check whether the platform covers fund-of-funds, commodity, absolute return, market neutral, and long-short vehicles in your universe, since hedge fund definitions vary across vendors and a narrow database can miss whole strategies.
Which eVestment alternative is best for private markets?
Preqin leads for private markets data across fundraising, deals, and performance, while PitchBook leads for private deal and company data. AlternativeSoft integrates both into portfolio analytics. For private-market allocation, start with Preqin for fund data and PitchBook for deal data.
Can I use iConnections instead of eVestment?
Not as a direct replacement: iConnections is a relationship and capital introduction platform, while eVestment is a data and benchmarking platform. Institutional fundraising teams often keep eVestment for benchmarking and consultant-channel intelligence and add iConnections for direct allocator engagement and meetings. The data layer informs strategy, while the relationship layer executes it.
Why is institutional data pricing almost never public?
Institutional data pricing depends on seat count, asset-class coverage, data feeds, and usage rights, so vendors quote per client rather than publishing tiers. Emerging managers often get discounts, while large consultants pay far more for broad access. Request quotes from at least three vendors with identical coverage requirements to compare fairly, since headline prices hide very different inclusions. Also confirm what happens to your data and saved screens if you cancel, since institutional platforms often restrict exports on exit. Negotiate data portability and export rights before signing, not during a cancellation dispute.
Sources we checked (8)
- https://www.morningstar.com
- https://www.bloomberg.com
- https://www.preqin.com
- https://www.pitchbook.com
- https://www.alternativesoft.com
- https://www.iconnections.io
- https://www.hfr.com
- https://www.backstop.com
Is your product missing or out of date?
We review this list regularly. Vendors can request a listing, send updated pricing or ask about featured placement.
Shihab Mia · Founder, Rankite
Shihab has 5+ years in B2B and SaaS SEO. He writes Rankite's software buying guides from pricing pages, documentation and public user reviews. More about Shihab.
Morningstar Direct
Bloomberg Terminal
Preqin
AlternativeSoft
iConnections
HFR
Backstop Solutions