Over the past decade, investment advisers have embraced data technology to help their clients better manage and monitor their private-markets portfolios. Now, the coronavirus pandemic and the market volatility that has come in its wake are putting those platforms to the test and leading to further refinements.

Investment advisers that include Aksia LLC, StepStone Group, Cliffwater Inc. and Hamilton Lane ramped up their investments in technology following the financial crisis of 2008 and 2009 to better analyze the thousands…