HONEST COMPARISON

Nagare vs Addepar
When to Use Each

Addepar excels at tracking and reporting what happened. Nagare excels at forecasting what will happen. Here's when to use each.

The Core Difference in One Sentence

Addepar

Reporting & Compliance

Performance attribution, historical reporting, portfolio tracking, compliance documentation.

For board reports: What happened last quarter

Nagare

Planning & Decisions

Capital call forecasting, commitment modeling, liquidity planning, scenario analysis.

For IC meetings: What should we do next

Different Jobs: Reporting vs Planning

Many family offices use both: Addepar for board reporting (what happened), Nagare for IC planning (what's next).

When to Use Which

Use Addepar When You Need:

  • Comprehensive Portfolio Reporting
    Track all asset classes (public markets, private funds, real estate, and other alternatives) in one system
  • Performance Attribution
    Analyze historical returns, benchmark comparisons, sector/geography breakdowns
  • Custodian Integrations
    Automatic data feeds from 100+ custodians, banks, and administrators
  • Compliance & Audit Trails
    Detailed audit logs, regulatory reporting, multi-entity consolidation
  • Client Reporting (MFO)
    White-label reports for 50+ clients, customizable dashboards, performance letters
  • Historical Data Warehouse
    Store 10+ years of historical data, time-travel reporting, trend analysis

Use Nagare When You Need:

  • Forward-Looking Projections
    See where your private portfolio is heading (3-10 years out), not just where it has been
  • 30-Second Commitment Modeling
    Model "Can I commit $10M to this GP?" in seconds, not days of Excel work
  • Capital Call Forecasting
    Know exactly when you will need $30M for capital calls in Q3 2026
  • Liquidity Planning
    Plan 2+ years out: capital calls vs distributions, when to commit next
  • Blended Actuals + Projections
    Project from stale marks to current NAV using actual transactions + growth assumptions
  • Fast Scenario Analysis
    Run 10+ "what if" scenarios per IC meeting without rebuilding models

Head-to-Head Feature Comparison

FeatureAddeparNagare
Core FocusHistorical tracking & reportingForward-looking forecasting
Private Fund ProjectionsBasic (straight-line)Advanced (J-curves, vintages, exits)
Capital Call ForecastingNot available2-10 year forecast by quarter
Blended Actuals + ProjectionsNoYes (core feature)
30-Second Commitment ModelingNo scenario engineYes (instant scenarios)
Monte Carlo SimulationsNoYes (1,000+ iterations)
Multi-Asset TrackingBest-in-class (all asset types)Private funds + public holdings (private-focused)
Custodian Integrations100+ integrations (automatic feeds)AI document extraction (upload statements)
Performance AttributionAdvanced (sector, geography, etc.)Basic (fund-level)
Client Reporting (MFO)White-label (50+ clients)Internal use (not for client reporting)
Setup Time3-6 months (complex implementation)1-3 days (fast start)
Annual Cost$50K-$150K (enterprise pricing)$0-$102K (transparent tiers)

The "Use Both" Strategy

Many sophisticated family offices use both tools for different purposes:

$2.5B Family Office: How They Use Both

📊Addepar for Historical Tracking & Compliance
  • • Consolidate all assets (public + private + real estate)
  • • Generate quarterly reports for board meetings
  • • Track historical performance vs benchmarks
  • • Compliance documentation and audit trails
🔮Nagare for Forward-Looking Decisions
  • • Forecast capital calls 2+ years out (liquidity planning)
  • • Model new commitment opportunities (can we commit $15M?)
  • • Run IC scenarios (what if we skip this fund?)
  • • Project current NAV from stale marks

Their workflow: Use Addepar for the board (historical reporting), use Nagare for IC meetings (forward-looking decisions). Two different jobs, two different tools.

Cost Comparison

Addepar Pricing

Typical Annual Cost:
$50,000 - $150,000/year
Setup/Implementation:
$10,000 - $30,000 (one-time)
Timeline to Live:
3-6 months (complex setup)
What You Get:
  • • Enterprise-grade reporting platform
  • • 100+ custodian integrations
  • • Multi-asset class tracking
  • • White-label client reporting
  • • Dedicated implementation team

Nagare Pricing

Typical Annual Cost:
$0 - $102,000/year
(Free up to 10 funds)
Setup/Implementation:
$0 (self-service)
Timeline to Live:
1-3 days (fast start)
What You Get:
  • • Forward-looking forecasting engine
  • • Blended actuals + projections
  • • 30-second commitment modeling
  • • Capital call/distribution forecasts
  • • Monte Carlo simulations

Decision Framework: Which One Do You Need?

Choose Addepar if:

  • You need comprehensive reporting across ALL asset classes (not just private funds)
  • You're a multi-family office serving 50+ clients with white-label reporting
  • You need custodian integrations (automatic data feeds)
  • Historical performance attribution is more important than forward-looking forecasting
  • You have $50K-$150K/year budget and 3-6 months for setup

Choose Nagare if:

  • You manage 20-60+ private funds and need fast commitment decisions
  • You need to answer "Can I commit $10M?" in 30 seconds, not 3 days
  • You need forward-looking capital call forecasts (2+ years out)
  • Your Excel model is breaking at 15-30 funds and you need a purpose-built solution
  • You want to be live in 1-3 days, not 3-6 months

Use Both if:

  • ✓You need Addepar for board reporting (historical) AND Nagare for IC decisions (forward-looking)
  • ✓You're a multi-family office with client reporting needs (Addepar) and internal forecasting needs (Nagare)
  • ✓You have the budget ($50K+ for Addepar + $42K-$102K for Nagare) and see value in both

Try Nagare's Forward-Looking Approach

Start free for up to 10 private funds. See blended actuals + projections, 30-second commitment modeling, and forward-looking liquidity planning in action.

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Free for up to 10 private funds • No credit card required