Fundraising Fox

Fund performance

Net returns for private equity and venture funds, as disclosed by public pension and foundation limited partners. Each fund links to the managing firm when we track it in our directory. Figures are the limited partner's own calculations.

7,718 fundsas of December 2025
AllPrivate equityPrivate creditReal assetsOpportunistic
FundManagerStrategyVintageCommittedNet IRRTVPIDPI
MINA II CIPMINAtactical2015—146.6%—0.16x
First Reserve Legacy Opportunities Fund, L.P.First Reserve Corporationmulti strategy2022—124.5%4.66x0.52x
Paceline Equity Partners Opportunity Fund IIPacelinemulti strategy2024—100.5%1.65x0.58x
T3 Partners II, L.P.T3 Advisorstactical2001—93.9%3.10x3.08x
SV Biotech Crossover Opportunities Fund LPSV Biotech Crossovermulti strategy2024—83.8%1.99x1.21x
KPS Special Situations Fund II, L.P.KPS Capital Partnersspecial situations2004—63.4%3.50x3.50x
Union Square Ventures Opportunity Fund, L.P.Union Square Ventures (USV)multi strategy2010—58.4%3.58x3.45x
Abbott Secondary Opportunities III, L.P.Abbottmulti strategy2024—57.6%1.24x0.02x
Charlesbank Credit Opp III Co-InvestmentCharlesbank Capital Partnersspecial situations2024—52.2%1.15x0.21x
Blackstone Energy Transition Partners IV L.P.The Blackstone Grouptactical2024—51.6%1.17x0.01x
Bloomberg US Aggregate TR—multi strategy——50.0%——
KPS Special Situations Fund V (A), LPKPS Capital Partnersspecial situations2007—48.8%1.44x0.08x
OCM Opportunities Fund IVbOaktreespecial situations2002—46.5%1.63x1.63x
Hollyport Secondary Opportunities VIII LPHollyport Capitalmulti strategy2022—45.0%1.60x0.00x
Tulco, LLCTulco, LLCtactical2017—43.7%3.17x2.42x
Project Coyote—distressed debt2023—42.8%1.88x0.00x
Kline Hawkes California, L.P.Kline Hawkes Pacific, L.Ptactical1995—41.4%2.74x2.74x
USV Opportunity 2014, LPUnion Square Ventures (USV)tactical2014—39.4%6.23x5.78x
Genstar Capital Partners VI, L.P.Genstarmulti strategy2011—36.6%2.02x2.02x
HF Samson Brunello (TeamSystem)HF Samson Brunello (TeamSystem)tactical2021—36.2%3.53x0.67x
Ind Vent - Special OppIND VENT - SPECIAL OPPtactical——35.1%——
TSSP Adjacent Opportunities Partners (B)TSSPmulti strategy2018—34.6%1.21x0.16x
Pantheon Credit Opportunities IIIPantheon Venturesmulti strategy2024—33.8%1.60x0.16x
Samson Hockey 1Samsontactical2020—33.1%2.22x2.22x
Menlo Special Opportunities Fund II, L.P.Menlospecial situations2019—32.9%1.60x0.06x
Siguler Guff Secondary Opportunities Fund, L.P.Siguler Guffmulti strategy2015—32.8%1.23x1.23x
SDC Digital Infrastructure Opportunity Fund II, L.P.SDC Capital Partnersmulti strategy——32.3%2.66x0.44x
AUA IIAUAtactical2019—31.8%2.01x0.99x
Asl - Sof IVAsltactical——31.8%——
DS Opportunities (C) LP—multi strategy2021—31.7%1.79x0.00x
Reverence Capital Partners Opportunities Fund II (Parallel)Reverence Capital Partnersmulti strategy2019—31.6%3.20x0.82x
Invesco Opps IIIInvescotactical2018—31.4%2.16x1.58x
Reverence Capital Partners Opportunities Fund V (FOO) (PE Fund III)Reverence Capital Partnersmulti strategy2021—31.1%1.67x0.04x
Permira Strategic Opportunities IPermiramulti strategy2024—30.8%1.14x0.04x
Ares Private Opportunities (NYC), L.P.Aresmulti strategy2021—30.2%1.83x1.83x
Defy Partners IIDefy Partnerstactical2019—28.6%2.64x0.00x
Mesirow Financial Private Equity Fund VII-BMesirowtactical2017—28.5%3.20x1.40x
OCM Opportunities Fund IV, L.P.Oaktreespecial situations2001—28.0%1.60x1.61x
Apollo Credit Opportunity Fund I, L.P.Apollomulti strategy2008—27.4%2.59x2.59x
NYCPPF - 2015 Emerging Manager Program5NYCPPF - 2015 Emerging Manager Program5tactical2015—27.3%1.54x0.16x
Menlo Special Opportunities, L.P.Menlospecial situations2016—27.0%2.90x0.04x
Flexpoint Fund II, L.P.Flexpoint Fordtactical2008—26.8%1.76x1.76x
Arctic DC Holdings, LP—tactical——26.4%1.51x0.20x
GCM Grosvenor Co-Investment Opportunities Fund III, L.P.GCM Grosvenormulti strategy2022—26.3%1.48x0.13x
Energy Special Situations Fund IIEnergyspecial situations2008—26.1%1.65x1.65x
GoldenTree Distressed Fund IV LPGoldenTree Distressed Debtdistressed debt2024—25.9%2.09x1.00x
GCM Grosvenor Co-Investment Opportunities Fund II, L.P.GCM Grosvenormulti strategy2018—25.9%2.36x1.09x
Oaktree Special Situations Fund II, L.P.Oaktreespecial situations2018—25.8%1.82x1.01x
Charlesbank Credit Opportunities Fund III, Limited PartnershipCharlesbank Capital Partnersmulti strategy2024—25.3%1.16x0.38x
NEA 15 Opportunity Fund, L.P.New Enterprise Associates (NEA)multi strategy2015—25.2%3.68x1.44x
Oaktree Special Situations Fund IIIOaktreespecial situations2022—24.7%1.36x0.38x
MPII-COI-NMI (Project Prince)MPIItactical2022—24.6%1.70x—
Genstar Capital Partners VIIIGenstarmulti strategy2017—24.5%2.66x1.23x
Elda River Opportunities Fund III LLCElda Rivermulti strategy——24.1%1.82x1.27x
Bain Capital Double Impact FundBain Capital Double Impact Fund LPtactical2016—23.8%0.92x0.28x
Trident VI Fund, L.P.Tridentmulti strategy2007—23.7%2.28x1.23x
RREEF Global Opportunities Fund II, LLC Senior NtsRreefmulti strategy2010—23.6%1.55x1.55x
KPS Special Situations Fund III, L.P.KPS Capital Partnersspecial situations2007—23.5%2.07x2.07x
Abbott Secondary Opportunities, L.P.Abbottmulti strategy2016—23.0%1.72x1.43x
Reverence Capital Partners Opportunities Fund IIReverence Capital Partnersmulti strategy2018—22.9%2.37x0.76x
Lightspeed Opportunity Fund II, LPLightspeed Venture Partnersmulti strategy——22.9%1.36x0.00x
KPS Special Situations Fund III-Supplemental LPKPS Capital Partnersspecial situations2009—22.7%2.67x2.67x
KPS Special Situations Supplemental Fund III, L.P.KPS Capital Partnersspecial situations2006—22.6%2.67x2.66x
Reverence Capital Partners Opportunities Fund II, LReverence Capital Partnersmulti strategy2019—22.6%2.09x0.61x
ECI 9 A L.P.ECItactical2008—22.5%2.13x2.13x
USV Opportunity 2022Union Square Ventures (USV)tactical2022—22.5%1.53x0.00x
Menlo Inflection III, L.P.Menlotactical2022—22.4%1.30x0.05x
BlackRock Long Term Capital, SCSPBlackRocktactical2019—22.4%2.11x1.75x
Arc'S Corporate Opportunities Fund 111, L.P.—multi strategy2008—22.4%2.14x1.14x
NYCERS - 2019 Emerging Manager Program6NYCERS - 2019 Emerging Manager Program6tactical2019—22.2%1.44x0.24x
Project Health—distressed debt2012—22.2%1.49x1.49x
KPS Special Situations Fund IVKPS Capital Partnersspecial situations2014—22.0%2.07x1.60x
KPS IVKPS Capital Partnerstactical2014—21.9%2.09x1.62x
BlackRock Asset Investors, L.P.BlackRocktactical1995—21.9%1.40x1.37x
Reverence Capital Partners Opportunities Fund V (PE III)Reverence Capital Partnersmulti strategy2021—21.6%1.52x0.05x
VIP III LPVIPmulti strategy2017—21.6%2.24x0.73x
TCC Opportunities, L.P.TCCmulti strategy2021—21.5%1.29x0.06x
KIA IX (Hammer) InvestorKIAtactical2016—21.4%—2.73x
Estancia IIEstanciatactical2019—21.2%1.92x1.27x
Project LD—distressed debt2010—21.2%1.36x1.36x
Project Quail Opportunities, L.P.Project Quailmulti strategy2022—21.0%1.42x0.00x
BR/ERB Tactical Opportunities, L.P.BR Capitaltactical2014—20.6%2.86x2.01x
Genstar Capital Partners IX Opportunities ProgramGenstarmulti strategy2019—20.4%2.13x0.93x
Asl - Sof IIIAsltactical——20.3%——
NCEF Liquidating TrustNCEF Liquidating Trustspecial situations1990—20.2%6.14x6.14x
Landmark Equity Partners XV, L.P. - Side CarLandmark Partnersmulti strategy2013—20.2%1.81x—
Genstar IX Opportunities Fund IGenstarmulti strategy2019—20.1%2.10x0.93x
Hollyport Secondary Opportunities Fund VII LPHollyport Capitalmulti strategy2020—19.9%1.80x0.60x
LSRC II S.a r.l.LSRCtactical2010—19.8%1.32x1.32x
BDCM Opportunity FundBlack Diamond Capital Managementmulti strategy2001—19.8%1.43x1.46x
CVC Credit Strategic Investment A L.P.CVCspecial situations2014—19.6%1.44x1.44x
CVI Credit Value Fund A LPCVIdistressed debt2011—19.6%2.25x2.25x
GHJM TrailHead FundGHJM TrailHeadtactical2012—19.6%3.20x3.20x
Genstar VIII Opportunities FundGenstarmulti strategy2017—19.5%2.68x1.41x
Blackstone Tac Ops III S LPThe Blackstone Grouptactical2023—19.4%1.19x0.13x
ECI 10 A LPECItactical2015—19.4%2.27x2.20x
Flexpoint Fund IV-AFlexpoint Fordtactical2020—19.3%1.69x0.34x
NYCERS - 2012 Emerging Manager Program4NYCERS - 2012 Emerging Manager Program4tactical2012—19.1%2.57x2.04x
Bain Capital Special Situations Asia II, L.P.Bain Capitalspecial situations2021—18.8%1.33x—
Starwood Distressed Opportunity Fund IX Global, L.P.Starwood Distressed Opportunitymulti strategy2011—18.8%1.86x1.76x

Sources: public limited-partner disclosures — pension performance reports (CalPERS, CalSTRS, and other pensions), foundation Form 990-PF filings, and board materials. TVPI = total value / paid-in; DPI = distributions / paid-in. Early-vintage IRRs are interim estimates (J-curve).