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

All Private equity Private credit Real assets Opportunistic

Fund	Manager	Strategy	Vintage	Committed	Net IRR	TVPI	DPI
NCL Investments III LP - PE Series	NCL Investments	multi strategy	2021	—	18.7%	1.21x	—
Level Equity Opportunities Fund 2021	Level Equity	multi strategy	2021	—	18.7%	1.31x	0.00x
NYCPPF - 2012 Emerging Manager Program4	NYCPPF - 2012 Emerging Manager Program4	tactical	2012	—	18.7%	1.97x	0.71x
NCL Investments II, L.P. - Outside Opportunities Series A	NCL Investments	multi strategy	2018	—	18.6%	2.27x	0.55x
Mesirow Financial Private Equity Fund VI	Mesirow	tactical	2013	—	18.6%	2.60x	1.74x
NYCERS - 2015 Emerging Manager Program5	NYCERS - 2015 Emerging Manager Program5	tactical	2015	—	18.5%	2.14x	0.67x
TSSP Opportunities Partners IV	TSSP	multi strategy	2019	—	18.5%	1.20x	0.12x
Hollyport Secondary Opportunities VII LP	Hollyport Capital	multi strategy	2020	—	18.4%	1.80x	0.60x
OCM Principal Opportunities Fund II	Oaktree	multi strategy	2001	—	18.3%	1.61x	1.61x
BDCM Opportunity Fund II	Black Diamond Capital Management	multi strategy	2005	—	18.3%	2.80x	2.74x
SL Capital SOF III, L.P.	abrdn plc	tactical	2017	—	18.2%	—	1.97x
Abbott Secondary Opportunities II, L.P.	Abbott	multi strategy	2021	—	18.1%	1.38x	0.38x
Zell-Chilmark Fund	Zell‐Chilmark	tactical	1990	—	17.9%	2.19x	2.20x
Dragoneer Opportunities Fund VI, L.P.	Dragoneer Investment Group	multi strategy	—	—	17.8%	1.33x	0.12x
Auldbrass Partners Secondary Opportunity Fund III	AULDBRASS	multi strategy	2021	—	17.7%	1.33x	0.02x
Genstar VIII Opportunities Fund I	Genstar	multi strategy	2017	—	17.6%	1.60x	0.29x
BlackChamber Real Estate Opportunity Fund, LP	BlackChamber	multi strategy	—	—	17.5%	1.75x	0.15x
Strategic Value Special Situations Fund V L.P.	Strategic	special situations	2021	—	17.4%	1.42x	0.00x
GSO Capital Opportunities Fund I	The Blackstone Group	special situations	2006	—	17.2%	1.42x	1.42x
GSO Capital Opportunities Fund	The Blackstone Group	special situations	2007	—	17.1%	1.67x	1.65x
Project Polished	—	distressed debt	2013	—	17.0%	1.22x	1.22x
Glendon Opportunities Fund II	Glendon Opp	multi strategy	2019	—	16.8%	1.84x	1.03x
SEP Diamond Fund, L.P.	SEP Diamond	tactical	2024	—	16.8%	1.17x	0.00x
Crescent Cove Opportunities Fund, L.P.	CRESCENT COVE CAPITAL	multi strategy	2022	—	16.6%	1.51x	0.10x
Wayzata Opportunities Fund II, L.P.	Wayzata Investment Partners	multi strategy	2007	—	16.6%	1.91x	1.91x
OCM Opportunities Fund VII-B, L.P.	Oaktree	special situations	2008	—	16.5%	1.70x	1.73x
TPG Opportunities Partners II, L.P.	TPG	multi strategy	2012	—	16.5%	1.70x	1.60x
OCM Opportunities Fund VIIb	Oaktree	special situations	2008	—	16.5%	1.73x	1.73x
Atalaya Special Opportunities Fund VIII LP	Atalaya Capital	special situations	2021	—	16.5%	1.21x	0.13x
Blue Torch Credit Opportunities Fund III	Blue Torch Capital	multi strategy	2022	—	16.5%	1.27x	0.39x
Wayzata Opportunities Fund II, L.P.2	Wayzata Investment Partners	multi strategy	2007	—	16.5%	—	—
Mesirow Partnerships V	Mesirow	tactical	2006	—	16.4%	2.43x	2.08x
Bain Capital Insurance Fund, L.P.	Bain Capital	tactical	2023	—	16.4%	1.23x	0.08x
Blackstone Tactical Opportunities Fund - FD L.P.	The Blackstone Group	tactical	2010	—	16.3%	1.44x	0.54x
BE VI 'H' L.P.	Berkshire	tactical	2019	—	16.3%	1.73x	0.34x
Project Unit	—	distressed debt	2020	—	16.3%	1.61x	1.61x
North Carolina Economic Opportunities Fund	North	multi strategy	2001	—	16.3%	1.69x	1.69x
Nutmeg Opportunities Fund II LLC EM	Nutmeg Opportunities	multi strategy	2017	—	16.0%	1.80x	0.70x
FP Intnl XI	FP Intnl	tactical	2022	—	16.0%	1.21x	0.02x
KPS Special Situations Mid-Cap Fund	KPS Capital Partners	special situations	2019	—	16.0%	1.49x	0.36x
Avenue Europe Special Situations Fund, L.P.	Avenue	special situations	2008	—	16.0%	—	1.49x
MatlinPatterson Global Opportunities Partners, L.P.	MatlinPatterson Global	multi strategy	2002	—	15.9%	1.72x	1.72x
WM Partners II	WM Partners	tactical	2020	—	15.9%	1.42x	0.19x
NYCP - 2015 Emerging Manager Program	NYCP - 2015 Emerging Manager Program	tactical	2015	—	15.8%	1.87x	0.92x
Alchemy Special Opportunities Fund IV L.P.	Alchemy Special	special situations	2019	—	15.8%	1.56x	0.25x
Defy Partners I	Defy Partners	tactical	2017	—	15.7%	2.15x	0.24x
Mesirow Financial Private Equity Fund V	Mesirow	tactical	2008	—	15.7%	2.40x	0.35x
NYCP - 2012 Emerging Manager Program	NYCP - 2012 Emerging Manager Program	tactical	2012	—	15.7%	2.03x	1.84x
Carlyle U.S. Equity Opportunities II, L.P.	Carlyle Group	multi strategy	2015	—	15.6%	1.85x	1.40x
Genstar Capital Partners V, LP LBO	Genstar	multi strategy	2007	—	15.5%	2.41x	2.41x
PIMCO Corp Opps II	PIMCO Europe	tactical	2016	—	15.5%	1.92x	0.89x
Sentinel I	Sentinel Capital Partners	tactical	—	—	15.5%	—	—
Siguler Guff CCCERA Opportunities	Siguler Guff	multi strategy	2014	—	15.4%	1.94x	1.54x
GreenoaksCapital Opportunities Fund V LP	Greenoaks	multi strategy	2023	—	15.3%	1.11x	—
Participation Agreement #1	—	multi strategy	2022	—	15.3%	—	1.39x
Carlyle U.S. Equity Opportunity Fund II, L.P.	Carlyle Group	multi strategy	2015	—	15.3%	1.89x	1.41x
GCM Grosvenor Secondary Opportunities Fund, L.P.	GCM Grosvenor	multi strategy	2015	—	15.1%	1.62x	1.35x
OrbiMed Royalty & Credit Opportunities III, LP	OrbiMed	multi strategy	2019	—	15.1%	1.20x	0.95x
HF Project Shield (Verisure)	HF Project Shield (Verisure)	tactical	2020	—	15.0%	1.73x	0.19x
Varde Fund IX, L.P.	The Varde	distressed debt	2008	—	15.0%	2.17x	2.17x
NEA 14, L.P.	New Enterprise Associates (NEA)	multi strategy	2012	—	14.9%	2.71x	1.14x
Redwood Opportunities SCSp	Redwood Offshore	multi strategy	2020	—	14.8%	1.38x	0.00x
Centerbridge Special Credit Partners IV Co-invest	Centerbridge Partners, L.P.	distressed debt	2023	—	14.8%	1.09x	—
Ares Special Opportunities Fund, L.P.	Ares	special situations	2020	—	14.6%	1.54x	0.97x
Fortress Credit Opportunities Fund II(A)	Fortress Investment Group	multi strategy	2010	—	14.6%	2.15x	2.06x
Ares PA Opportunities Fund, L.P. - Distressed Debt	Ares	special situations	2019	—	14.6%	1.40x	0.38x
Apollo Hybrid Value Fund	Apollo	multi strategy	2018	—	14.6%	1.30x	1.05x
FP Intnl X	FP Intnl	tactical	2021	—	14.6%	1.37x	0.07x
Appian Zilker PV1 LP	Appian Zilker PV1 LP	tactical	—	—	14.6%	1.27x	0.13x
NYCP - 2019 Emerging Manager Program	NYCP - 2019 Emerging Manager Program	tactical	2019	—	14.5%	1.41x	0.46x
GCM Grosvenor Secondary Opportunities Fund III, LP	GCM Grosvenor	multi strategy	2020	—	14.5%	1.31x	0.18x
Providence TMT Special Situation Fund LP	Providence	special situations	2008	—	14.5%	1.81x	1.81x
Arrow Credit Opportunities II USD Feeder SCSp	Arrowstreet	multi strategy	—	—	14.5%	1.22x	0.09x
ECI 11	ECI	tactical	2018	—	14.4%	1.65x	0.58x
Nutmeg Opportunities Fund L.P. CT SMMBF	Nutmeg Opportunities	multi strategy	2010	—	14.4%	2.10x	1.60x
KSL Capital Partners Credit Opportunities Fund	KSL	multi strategy	2014	—	14.4%	1.38x	1.38x
Miller Global VII	Miller Global Properties	multi strategy	2012	—	14.4%	1.33x	1.33x
Providence TMT Special Situations Fund, L.P.	Providence	special situations	2004	—	14.4%	1.79x	1.78x
Tiger Iron Special Opportunities Fund III, L.P.	Tiger Iron Capital	special situations	2022	—	14.4%	1.21x	0.01x
Tiger Iron Special Opportunities Fund LP	Tiger Iron Capital	special situations	2016	—	14.4%	2.00x	0.43x
Bay State Partners, L.P.	Bay State	tactical	2022	—	14.3%	1.26x	0.00x
Gold Hill 2008	Gold Hill	tactical	2008	—	14.3%	1.97x	1.87x
OCM Opportunities Fund V, L.P.	Oaktree	special situations	2004	—	14.2%	1.65x	1.65x
PSERS TAO Partners Parallel Fund, L.P. -(TAO Contingent)	PSERS TAO	tactical	2020	—	14.2%	1.25x	0.75x
Blackstone Tactical Opportunities Fund II-S L.P.	The Blackstone Group	tactical	2018	—	14.2%	1.48x	0.75x
OrbiMed Royalty & Credit Opportunities IV	OrbiMed	multi strategy	2022	—	14.1%	1.28x	0.25x
Towerbrook Structured Opportunities Fund II (Onshore) LP	TowerBrook	multi strategy	2019	—	14.1%	1.36x	0.64x
PIMCO Corporate Opportunities Fund II Onshore Feeder, L.P.	PIMCO Europe	multi strategy	—	—	14.1%	2.75x	1.84x
Blackstone Tactical Opportunities Fund II, L.P.	The Blackstone Group	tactical	2015	—	14.0%	1.55x	1.37x
Anchorage Illiquid Opportunities VI, L.P.	Anchorage Illiquid	multi strategy	2017	—	14.0%	1.70x	1.10x
SL Capital SOF II, L.P.	abrdn plc	tactical	2015	—	13.9%	—	1.58x
GCM Grosvenor Secondary Opportunities Fund II, L.P.	GCM Grosvenor	multi strategy	2017	—	13.9%	1.65x	0.51x
Bain Capital Distressed and Special Situations 2013 (A + AIV I), L.P.	Bain Capital	special situations	2012	—	13.8%	1.79x	0.37x
Castlelake Aviation II, L.P.	Castlelake Pte. Ltd.	multi strategy	2010	—	13.8%	1.68x	1.67x
Centerbridge Special Credit Partners, LP	Centerbridge Partners, L.P.	distressed debt	2009	—	13.8%	1.94x	1.94x
Blackstone Tactical Opportunities Fund III-C (Surge) L.P.	The Blackstone Group	tactical	2019	—	13.7%	1.45x	0.37x
TSSP Adjacent Opportunities Partners (D), L.P.	TSSP	multi strategy	2018	—	13.7%	1.85x	0.87x
Ares Distressed Securities Fund, L.P.	Ares	distressed debt	2008	—	13.7%	1.75x	1.75x
Crestline Opportunity Fund V Onshore T/STE, L.P.	Crestline Investors	multi strategy	2023	—	13.6%	1.24x	0.17x
Castlelake Aviation II LP (F.K.A. Airline Credit Opportunities II LP)	Castlelake Pte. Ltd.	multi strategy	2010	—	13.6%	1.66x	1.65x

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).