Web portals are one of the rapidly growing applications, providing a single interface to access different sources (providers). The results from the providers are typically obtained by each provider querying a database and returning an HTML or XML document. Performance and in particular providing fast response time is one of the critical issues in such applications. Dissatisfaction of users dramatically increases with increasing response time, resulting in abandonment of Web sites, which in turn could result in loss of revenue by the providers and the portal. Caching is one of the key techniques that address the performance of such applications. In this work we focus on improving the performance of portal applications via caching. We discuss the limitations of existing caching solutions in such applications and introduce a caching strategy based on collaboration between the portal and its providers. Providers trace their logs, extract information to identify good candidates for caching and notify the portal. Caching at the portal is decided based on scores calculated by providers and associated with objects. We evaluate the performance of the collaborative caching strategy using simulation data. We show how providers can trace their logs and calculate cache-worthiness scores for their objects and notify the portal. We also address the issue of heterogeneous scoring policies by different providers and introduce mechanisms to regulate caching scores. We also show how portal and providers can synchronize their meta-data in order to minimize the overhead associated with collaboration for caching.