/Fund performance

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.

7,716 fundsas of December 2025
FundManagerStrategyVintageCommittedNet IRRTVPIDPI
Bregal Sagemount Direct Lending Series 2023 L.P.General Atlanticdirect lending2024——1.00x0.33x
Vista Credit Partners III, LPVista Equity Partnersdirect lending2020——1.26x0.32x
Vista Opportunistic Credit Fund I, LPVista Equity Partnersdirect lending2017——1.38x0.49x
GoldenTree Asset Management LPGoldenTree Asset Managementdirect lending———1.44x—
Ares Capital Europe V (D) LeveredAresdirect lending2021——1.38x0.32x
Ares Capital Europe VIAresdirect lending2023——1.19x0.28x
Ares Capital Europe VI (ACE VI)Aresdirect lending2023——1.17x0.07x
ARES CENTRE STREET PARTNERSHIPAresdirect lending———1.04x—
Ares Credit Investment Partnership (CP), L.P.Aresdirect lending2022——1.25x0.00x
Ares European Credit Investments VII (CP), L.P.Aresdirect lending2021——1.50x0.00x
Ares European Credit Investments VII (CP), L.P. -- ACE VI Co-Invest PoolAresdirect lending2023——1.24x0.00x
Ares Senior Credit Investment Partnership (CP) LPAresdirect lending2023——1.22x0.17x
Ares Senior Direct Lending Fund (Delaware) III LPAresdirect lending2024——1.13x0.07x
Ares Senior Direct Lending Fund IIIAresdirect lending2023——1.15x0.09x
Ares Senior Direct Lending IIIAresdirect lending2023——1.12x0.09x
Ares SME (Parallel), L.P.Aresdirect lending2022——1.29x0.07x
Ares SSG Capital Partners VI, LPAresdirect lending2022——1.27x0.42x
Domain Excelsior Fund, LPDomain Associatesdirect lending2022——12.49x0.00x
Salica Growth Debt Fund ISalica Investmentsdirect lending———1.03x0.09x
Fortress Credit Opportunites Fund V ExpansFortress Investment Groupdirect lending2020——1.13x0.04x
Fortress Credit OpportunitiesFortress Investment Groupdirect lending2020——1.07x0.04x
Neuberger Berman High Income TrustNeuberger Bermandirect lending———1.36x—
Neuberger Berman Loan Advisers Holdings (Delaware), LPNeuberger Bermandirect lending2017——1.71x1.12x
Neuberger Berman Loan Advisers Holdings II (Delaware), LPNeuberger Bermandirect lending2020——1.49x0.78x
Neuberger Berman Loan Advisers Holdings IV LPNeuberger Bermandirect lending2024——1.01x0.10x
West Street Mezzanine Partners VIIIGoldman Sachsmezzanine2022——1.39x0.16x
West Street Mezzanine Partners VIII, pro rata co-investGoldman Sachsmezzanine2022——1.50x0.18x
Golub Capital Senior Loan FundGolub Capitaldirect lending———1.08x0.06x
Golub Credit (GEMS Fund 6)Golub Capitaldirect lending———1.25x0.32x
Golub Emerald Fund, LPGolub Capitaldirect lending2023——1.05x0.00x
Golub Sapphire Fund, LPGolub Capitaldirect lending2023——1.12x0.00x
Apollo Accord Fund VI, L.P.Apollodirect lending2024——1.07x0.00x
Apollo Accord IIApolloprivate credit2018——1.11x1.11x
Apollo Accord IIIApolloprivate credit2019——1.12x1.12x
Apollo Accord III BApolloprivate credit2020——1.16x1.16x
Apollo Accord IVApolloprivate credit2020——1.19x1.19x
Apollo Accord VApolloprivate credit2022——1.10x1.10x
APOLLO CENTRE ST PARTNERSHIPApollodirect lending———1.22x—
Apollo Excelsior Co-Invest, LPApollodirect lending2021——1.22x0.19x
Apollo Excelsior, LPApollodirect lending2022——1.15x0.44x
APOLLO IXApollodirect lending———1.58x—
APOLLO X CO INVESTApollodirect lending———1.06x—
Sixth Street Specialty Lending Europe III (A), L.P.Sixth Streetdirect lending2024——0.07x—
ICG Exelsior SCSpIntermediate Capital Groupdirect lending2021——1.20x0.08x
ICG Global Total Credit FundIntermediate Capital Groupdirect lending2024——1.10x—
ICG North American Credit Partners III, L.P.Intermediate Capital Groupdirect lending2023——1.00x0.10x
Owl Rock Capital Corporation III ACOwl Rock Capitaldirect lending2020——1.04x0.02x
Owl Rock Capital Diversified Holdings LLCOwl Rock Capitaldirect lending2021——0.42x0.42x
Owl Rock Diversified Lending 2020 Fund, LPOwl Rock Capitaldirect lending2021——1.14x0.60x
Antares Capital Senior Loan Fund IIIAntares Capitaldirect lending2024——1.05x0.07x
Ag Energy Credit Opportunities Fund L.P.Angelo Gordondirect lending———1.24x1.22x
TPG Angelo Gordon Credit Solutions Fund III, L.P.TPGdirect lending2024——1.17x0.00x
TPG Twin Brook Direct Lending Fund VITPGdirect lending2025——0.99x—
Blackrock European Middle Market Private Debt Fund IIIBlackRockdirect lending———1.19x0.40x
Capital International Private Equity Fund V L.P. Private EquityCapital Groupdirect lending2007——0.90x0.91x
Bain Capital Beacon Roll SPV XI Private EquityBain Capitaldirect lending2025——1.00x1.00x
Bain Capital Beacon Roll SPV XIIBain Capitaldirect lending2025——0.74x0.42x
Bain Capital Credit Managed Account (Blanco), L.P.Bain Capital Creditdirect lending———1.56x—
Brookfield Special Investments Fund L.P.Brookfield Asset Managementdirect lending2021——1.58x0.68x
Dawson Partners (Empire), LPDawson Partnersdirect lending2019——3.49x0.05x
Bridgepoint Credit Empire SMA SCSpBridgepointdirect lending2018——1.71x0.86x
Palatine Growth Credit Fund IPalatinedirect lending———0.81x0.00x
PIMCO Asset Based Finance Specialty FinancePIMCO Europespecialty finance2024——1.00x0.00x
PIMCO Asset Based Finance Specialty Finance Pro Rata Co-investPIMCO Europespecialty finance2024——1.00x0.00x
PIMCO Specialty Finance Income Fund Onshore Feeder, L.P.PIMCO Europespecialty finance2023——1.11x0.02x
B Capital Opportunities Fund II, L.P.B Capitalmezzanine2022——1.85x0.00x
Arcmont Direct Lending Fund IV (EUR) SLPArcmont Direct Lendingdirect lending———1.10x0.55x
Avenue Sustainable Solutions Fund, LPAvenuedirect lending2020——1.15x0.41x
BANK DEBT SPV BOEBANK DEBT SPV BOEdirect lending———1.09x—
Chambers Energy Capital V, LPChambers Energydirect lending2023——1.04x0.14x
Colbeck Strategic Lending Fund IIColbeck Strategic Lendingdirect lending———1.25x0.82x
Colbeck Strategic Lending Fund IIIColbeck Strategic Lendingdirect lending———1.06x0.58x
Colbeck Strategic Lending OffshoreColbeck Strategic Lendingdirect lending———1.33x0.90x
Colbeck Strategic Lending Offshore Feeder IIColbeck Strategic Lendingdirect lending———1.37x0.52x
Comvest Credit Partners VIIComvest Creditdirect lending2024——1.06x0.08x
CRPTF-SLR Credit Partnership L.P.Crptf-Slrdirect lending2023——1.10x0.16x
GSC I, L.P.Gscdirect lending2024——1.08x0.00x
HEITMAN CREDITHeitmandirect lending2017——0.84x—
Highbridge Mezzanine Partners IIHighbridgemezzanine———1.49x1.49x
KSL Captal Partners Coto Co-Invest I, LPKSLdirect lending2021——1.10x0.02x
LCM Partners CO IX, SLPLcmdirect lending2023——1.18x0.03x
Mezzvest III FundMezzvestmezzanine———1.19x1.19x
Mezzvest III Fund (GBP)Mezzvestmezzanine———1.66x1.66x
New York Credit SBIC Fund II, LPNew York Lifedirect lending2022——0.95x0.01x
New York Credit SBIC Fund, LPNew York Lifedirect lending2014——3.11x3.00x
OHA Credit Solutions Fund IIOHAdirect lending2022——1.32x0.00x
OHA Credit Solutions Fund II (CA Parallel)OHAdirect lending2022——1.40x0.00x
OHA CA CUSTOMIZED CREDIT FUND, L.P. ? OHA SENIOR PRIVATE LENDING FUND (CA OLEND)OHA CA Customizeddirect lending2024——1.07x0.00x
OHA Senior Private Lending Fund (CA 3)OHA Senior Private Lendingdirect lending2021——1.43x0.00x
OHA Senior Private Lending Fund (CA 5)OHA Senior Private Lendingdirect lending2021——1.42x0.00x
Peak Rock IVPeak Rock Capitaldirect lending2023——1.09x0.00x
Silver Point Specialty Credit II ACSilverspecialty finance2020——1.08x0.31x
Silver Rock Empire Fund (A), LPSilverdirect lending2022——0.90x0.03x
SLR Private Corporate Lending Fund IISLR Private Corporate Lendingdirect lending2022——1.21x0.09x
Solar Capital Debt Fund ACSolardirect lending2019——1.12x0.00x
Solar Capital Private Corporate Lending Fund ACSolardirect lending2019——1.18x0.05x
SSG Capital Parters V, LPSSGdirect lending2019——1.16x0.96x
Strategic Value Excelsior Fund, LPStrategicdirect lending2018——1.41x0.21x
TA Subordinated Debt IV, LPTA Subordinated Debtdirect lending2016——2.16x1.40x
TCW Mezzanine Fund VTCW Special Creditsmezzanine2008——1.51x1.51x

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).