/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
WCAS Capital Partners II, L.P.WCASbuyout1990—14.0%2.17x2.17x
Crestview Partners II, L.P.Crestview Partnersbuyout2008—14.0%2.02x1.85x
Battery Ventures XIII Side FundBattery Venturesventure capital2020—14.0%1.72x0.24x
Montefiore Investment V S.L.P.Monteflore Investmentgrowth equity2020—14.0%1.46x0.04x
Blackstone Capital Partners IV, L.P. (Secondary)The Blackstone Groupbuyout2012—13.9%1.28x1.28x
Madison Dearborn Capital Partners IV, L.P.Madison Dearborn Partnersbuyout2000—13.9%1.80x1.75x
CA Co-Investment Limited PartnershipCA Coco investment2022—13.9%1.32x0.00x
Pantheon Global Annual Series 2014Pantheon Venturesbuyout2014—13.9%1.91x0.67x
Top Tier Venture Capital IV LPTop Tier Capital Partnersventure capital2007—13.9%2.00x2.00x
Apollo Investment Fund VIII CVC Capital Partners VIApollobuyout2013—13.9%——
HarbourVest Partners III, L.P.HarbourVest Partners (Canada)secondaries1989—13.9%2.20x2.16x
Abbott Capital Private Equity Investors 2010Abbottbuyout2010—13.9%2.10x0.36x
BCEC X Metro Co-InvestmentBCECco investment2016—13.9%2.10x2.10x
IK Fund VIIIK Small Capbuyout2013—13.9%1.84x1.84x
Trilantic Capital Partners V (North America)Trilanticbuyout2012—13.9%1.60x1.60x
Welsh, Carson, Anderson & Stowe VIWelsh, Carson, Anderson & Stowebuyout1993—13.9%2.07x2.07x
Avance Investment PartnersAvancebuyout2021—13.9%1.25x0.45x
Florida Growth Fund II, LLCFlorida Growthgrowth equity2012—13.9%1.53x0.70x
ICONIQ Strategic Partners VII, L.P.ICONIQsecondaries2022—13.9%1.14x0.00x
Pathway Private Equity Fund III-Co Series CPathway Capital Managementco investment2020—13.9%1.68x0.38x
Paul Capital Top Tier Investments IV, L.P.Paul Capital Partnersbuyout2004—13.9%2.00x2.00x
CapitalSpring Investment Partners VCapitalSpringbuyout2016—13.8%1.51x0.99x
Paragon Partners, L.P.Paragon Partnersbuyout1984—13.8%2.10x2.09x
Butterfly II, LPButterflybuyout2022—13.8%1.27x0.32x
Sunrise Boulevard PE Partners L.P.Sun Capitalbuyout2021—13.8%1.37x0.00x
General AtlanticGeneral Atlanticbuyout2016—13.8%1.60x0.41x
GGV DiscoveryGGV Discoveryventure capital2016—13.8%1.34x0.01x
Lexington Capital Partners VIII LPLexington Partnerssecondaries2015—13.8%1.65x1.27x
HarbourVest International PEP IVHarbourVest Partners (Canada)fund of funds2001—13.8%1.80x1.74x
Harbourvest Intl PE Partners VI-CaymanHarbourVest Partners (Canada)fund of funds2014—13.8%1.92x1.64x
Greenfield VIIGreenbuyout2013—13.8%1.81x1.76x
Cerberus Institutional Partners VI, L.P.Cerberusbuyout2015—13.8%2.12x1.33x
Platinum Equity Small Cap Fund, L.P.Platinum Equity Smallbuyout2018—13.8%1.62x0.36x
DFJ Mercury Silverstone Fund, L.P.Draper Fisher Jurvetson (DFJ)growth equity2011—13.8%1.92x1.81x
Montagu Private Equity IV, L.P.Montagubuyout2012—13.8%1.65x1.38x
GTCR Fund IX-AGTCRbuyout2006—13.8%1.81x1.81x
GTCR Fund IX, L.P.GTCRbuyout2006—13.8%1.80x1.81x
JMI Equity Fund X A L.P.JMI Equityventure capital2021—13.7%1.46x0.10x
France Private Equity II, L.P.France Privatebuyout1998—13.7%1.70x1.69x
Edison Partners IX, L.P.Edison Partnersbuyout2018—13.7%1.95x0.11x
Francisco Partners VII A L.P.Francisco Partnersbuyout2023—13.7%1.07x—
Institutional Venture Partners IIIIVP (Institutional Venture Partners)venture capital1985—13.7%2.15x2.15x
Level Equity Growth Partners III, L.P.Level Equitygrowth equity2016—13.7%1.64x1.15x
Industry Ventures Partnership IVIndustry Venturesbuyout2016—13.7%2.10x0.59x
Advent International GPE VII-D LPAdvent Internationalbuyout2012—13.7%1.87x1.87x
Carlyle Global Financial Services Partners, L.P.Carlyle Groupbuyout2008—13.7%1.68x1.68x
Cinven 8 Project ArrowCinvenbuyout2023—13.7%1.30x—
BRV Aster Fund II, L.P.BRV Asterbuyout2017—13.7%1.98x0.29x
APAX VIII-AApaxbuyout——13.7%1.50x1.50x
Apax VIII-B LPApaxbuyout2012—13.7%1.50x1.50x
China Privatization Fund (Del), L.P.China Privatizationbuyout2006—13.7%1.92x1.92x
Mesirow Fd VII A PEMesirowbuyout2017—13.7%1.82x0.37x
New York Life Capital Partners IV-A. L.P.New York Lifebuyout2008—13.7%1.91x1.90x
American Industrial Partners Capital Fund IAmerican Industrial Partnersbuyout1991—13.7%1.70x1.70x
Charlesbank Equity Fund IX LPCharlesbank Capital Partnersbuyout2018—13.7%1.60x0.63x
Cressey & Company Fund VI LPCressey & Companybuyout2018—13.7%1.54x0.35x
CS NYCPPF Emerging Manager Co-Investment FundCs Capitalco investment2008—13.7%1.75x1.75x
GCM Grosvenor NYCPPF Emerging Manager Co-Investment FundGCM Grosvenorfund of funds2008—13.7%1.75x1.75x
HgCapital Genesis 10 AHg Capitalbuyout2022—13.7%1.20x—
Northbridge-Strategic Fund IINorthbuyout2019—13.7%2.21x0.34x
Pathway Private Equity Fund III-CoPathway Capital Managementco investment2019—13.7%1.30x0.11x
Partners Grp - McaPartners Groupbuyout——13.7%——
Cortec Group Fund VI LPCortec Groupbuyout2015—13.7%1.99x1.31x
HarbourVest Partners Co-Investment IVHarbourVest Partners (Canada)secondaries2016—13.7%1.92x1.21x
Strategic Investors Fund IX-B, L.P.Strategicfund of funds2018—13.6%1.84x0.04x
LightBay Investment Partners LPLightBay Capitalbuyout2018—13.6%1.78x1.06x
Primary Wave Music IP Fund 2, LPPrimary Ventureventure capital2020—13.6%1.44x0.58x
Vista Equity Partners Fund IVVista Equity Partnersbuyout2011—13.6%1.98x1.30x
Alta Co PartnersAlta Partnersfund of funds1980—13.6%2.22x2.22x
Strategic Investors Fund IX-A LPSVBfund of funds2018—13.6%1.84x0.05x
Doughty Hanson & Co III, L.P.Doughty Hanson & Cobuyout1997—13.6%1.92x1.92x
H.I.G. Bayside IIH.I.G. Capitalgrowth equity2008—13.6%1.56x1.52x
Permira VIIIPermirabuyout2022—13.6%1.23x0.02x
HarbourVest Int'l VI5HarbourVest Partners (Canada)fund of funds2008—13.6%2.14x1.71x
EQT VI, L.P.EQTbuyout2011—13.6%1.74x1.74x
MidOcean Partners IIIMidOceanbuyout2006—13.6%2.23x2.23x
MidOcean Partners III, L.P.MidOceanbuyout2006—13.6%2.23x2.23x
Vertical Venture Partners IIVerticalventure capital2018—13.6%1.87x0.00x
American Securities Partners VIIIAmerican Securitiesbuyout2019—13.6%1.51x0.34x
FP Venture 2010—venture capital2010—13.6%2.79x1.53x
FS Equity Partners VI Lincolnshire Equity Fund IV—buyout2009—13.6%—1.25x
New Mountain Partners II LPNew Mountain Capitalbuyout2005—13.6%1.93x1.93x
Ripplewood Partners, L.P.Ripplewood Holdingsbuyout1996—13.6%1.74x1.74x
KKR Asian Fund, L.P.Kohlberg Kravis Robertsbuyout2007—13.6%1.70x1.69x
Carlyle Partners V, L.P.Carlyle Groupbuyout2007—13.6%1.90x1.87x
AXA Secondary Fund V L.P.Ardiansecondaries2011—13.6%1.55x1.54x
JMI Equity Fund XI A L.P.JMI Equityventure capital2023—13.6%1.14x—
AlpInvest Co-Investment Fund (Onshore) VII, L.P.Carlyle Groupco investment2017—13.6%1.77x0.64x
Ind Vent - Sec VIIIND VENT - SECventure capital——13.5%——
Blackstone Core Equity Partners II LPThe Blackstone Groupbuyout2021—13.5%1.35x0.12x
Hg CT1 Co-Invest L.P.Hg N1 Co-Invest L.Pbuyout2021—13.5%1.20x0.00x
TPG Partners VIII, L.P.TPGbuyout2019—13.5%1.51x0.35x
Lexington VIILexington Partnerssecondaries2009—13.5%1.64x1.62x
Brookfield Capital Partners V,L.P.Brookfield Asset Managementbuyout2019—13.5%1.65x0.40x
HarbourVest Intl PE Partners V-Cayman USHarbourVest Partners (Canada)fund of funds2014—13.5%1.36x1.35x
CCMP Capital Investors IICcmpbuyout2006—13.5%1.72x1.72x
Falfurrias Capital Partners V LPFalfurriasbuyout2021—13.5%1.26x0.07x
PA Portfolio Advisors Secondary Fund, L.P.Portfolio Advisorssecondaries2020—13.5%1.71x0.30x
Arcs Corporate Opportunitil5 Fund II, L.P—private equity2006—13.5%—1.63x
Crown CG Private Equity Fund 2019, L.P.Crown CG Privatebuyout2020—13.5%1.41x0.68x

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).