/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
General Catalyst XI - EnduranceGeneral Catalystventure capital2021—9.1%1.29x—
StepStone Pioneer Capital IIStepstone Groupfund of funds2006—9.1%2.25x1.00x
Advent Latin America Private Equity Fund IV-D, L.P.Advent Internationalbuyout2007—9.1%1.51x1.43x
Apax X USDApaxbuyout2019—9.1%1.32x0.27x
Silver Lake Partners IISilverbuyout2004—9.1%1.43x1.43x
Dover Street VIIHarbourVest Partners (Canada)buyout2007—9.1%1.40x1.43x
JP Morgan Fleming (Tranche B)J.P. Morgan Asset Managementbuyout2010—9.1%1.69x1.40x
Project Curious—buyout2018—9.1%1.91x0.00x
Prudential Capital Partners IVPrudential Financialbuyout2012—9.1%1.40x1.38x
The Central Valley Fund, LPThe Central Valleybuyout2005—9.1%1.28x1.28x
Apax X, L.P.Apaxbuyout2019—9.1%1.30x0.17x
GIP Capital Solutions Fund II SCSp, L.P.GIPco investment——9.1%1.41x0.69x
D.E. Shaw Alkali Fund VI, L.L.C.D.E. Shawbuyout——9.1%1.17x0.21x
Hollyport Secondary (Overage Fund) LPHollyport Capitalbuyout2022—9.1%1.10x0.00x
Permira IV, L.P.Permirabuyout2006—9.0%1.77x1.55x
Webster Equity Partners V, L.P.Webster Equity Partnersbuyout2021—9.0%1.24x0.02x
Pantheon USA VPantheon Venturesfund of funds2002—9.0%1.57x1.57x
KKR MN Partnership L.P.Kohlberg Kravis Robertsbuyout2021—9.0%1.27x0.02x
HarbourVest International Private Equity Partners III - PartnershipHarbourVest Partners (Canada)fund of funds1997—9.0%1.58x1.58x
JFL IIIJflbuyout2011—9.0%1.47x1.06x
NEV IINEVbuyout2005—9.0%1.73x1.73x
Strategic Partners IV VC, L.P.Strategicsecondaries2008—9.0%1.51x1.51x
II Grain Communications—buyout2021—9.0%—0.37x
Prudential Capital Partners II, L.P.Prudential Financialbuyout2005—9.0%1.49x1.49x
Sorenson Capital Partners IV, L.P.Sorenson Capitalbuyout2021—9.0%1.29x0.01x
Horsley Bridge Strategic Fund VHORSLEY BRIDGE VENTUREfund of funds2020—8.9%——
GTCR Strategic Growth Fund I/A LP and GTCR Strategic Growth Fund I/B LPGTCRgrowth equity——8.9%1.14x0.02x
Stone Oak Fund L.P.Stone Oakbuyout——8.9%1.91x1.45x
Canaan VIII, L.P.Canaan Partnersventure capital2007—8.9%1.44x1.24x
SVB Capital Partners IV LPSVBbuyout2017—8.9%1.62x0.00x
Sixth Street Opportunities Partners III, L.P.Sixth Streetbuyout2014—8.9%1.60x1.26x
Advent Global TechnologyAdvent Internationalbuyout2019—8.9%1.45x0.14x
GTCR Strategic Growth FundGTCRgrowth equity2022—8.9%1.14x0.02x
Accel-KKR Growth Capital Partners III, LPAccel-KKRgrowth equity2018—8.9%1.30x0.33x
Capital Partners IV, L.P.Centre Lanebuyout2007—8.9%1.62x—
Clearlake Opportunities Partners IIClearlake Capital Groupbuyout2019—8.9%1.24x0.48x
Dyal Capital Partners IIDyal Capital Partnerssecondaries2014—8.9%1.54x0.60x
FP Venture 2015—venture capital2015—8.9%1.75x0.60x
Landmark Equity Partners XIVLandmark Partnersbuyout2008—8.9%1.32x1.32x
Landmark XIVLandmark Partnersbuyout2008—8.9%1.32x1.32x
MW Eureka (US) FundMW Eureka (US)buyout2017—8.9%1.75x—
Oak Hill Capital Partners IIIOak Hill Capitalbuyout2007—8.9%1.40x1.40x
PSG V L.P.PSG Equitygrowth equity2021—8.9%1.34x0.28x
CapitalSpring Investment Partners VI, LPCapitalSpringbuyout2020—8.9%1.20x0.20x
JP Morgan Venture Capital Investors IIIJ.P. Morgan Asset Managementventure capital2006—8.8%1.83x1.62x
Insight Partners XII Buyout Annex FundInsight Partnersgrowth equity2021—8.8%1.28x0.00x
KKR 1987 FundKohlberg Kravis Robertssecondaries1987—8.8%1.66x1.66x
TrueBridge Capital Partners Fund VI (Parallel) LPTrueBridge Capital Partnersfund of funds2019—8.8%1.34x0.06x
Tpg Asia Vi, LPTPGbuyout2012—8.8%1.59x1.19x
H.I.G. Middle Market LBO Fund IIIH.I.G. Capitalbuyout2019—8.8%1.27x0.47x
Bain Capital Fund IX Co-Invest L.P.Bain Capitalco investment2006—8.8%—1.40x
NB Co-Investment PartnersNB Coco investment2006—8.8%1.48x1.41x
BARING ASIA PRIVATE EQUITY FUND IV LPBaring Private Equity Asiabuyout2007—8.8%1.61x1.61x
Landmark Equity Partners XIV, L.P.Landmark Partnerssecondaries2008—8.8%1.32x1.32x
Varsity Healthcare Partners III, L.P.Varsity Healthcare Partnersbuyout2019—8.8%1.43x0.00x
BC Partners XI GE 2 LPBC Partnersco investment2021—8.8%1.23x0.10x
Bain Capital Fund X, L.P.Bain Capitalco investment2007—8.8%1.60x1.51x
Tiger Iron Redwood Fund L.P.Tiger Iron Capitalbuyout2021—8.8%1.20x—
Pharos IIIPharos Capital Groupbuyout2013—8.7%1.65x1.20x
Advent Latin American Private Equity Fund IV, L.P.Advent Internationalbuyout2007—8.7%1.50x1.42x
Permira VII, L.P.Permirabuyout2020—8.7%1.41x0.13x
Carlyle Power Partners IICarlyle Groupbuyout2015—8.7%1.37x1.36x
Affinity Asia Pacific Fund III, L.P.Affinity Equity Partnersbuyout2007—8.7%1.39x1.39x
Certares HoldingsCertares Holdingsbuyout2018—8.7%1.39x0.27x
Glencoe Capital Inst. Partners IIIGlencoebuyout2004—8.7%1.49x1.49x
Kainos Capital IIIKainosbuyout2022—8.7%1.21x0.00x
Charlesbank Equity Fund VI, L.P.Charlesbank Capital Partnersbuyout2005—8.7%1.41x1.36x
GCM Grosvenor DEM, L.P.GCM Grosvenorfund of funds2012—8.7%1.38x1.13x
Nordic Capital Fund VI, L.P.Nordic Capitalbuyout2006—8.7%1.73x1.73x
PAG Asia III, L.P.PAGbuyout2019—8.7%1.30x0.32x
Strategic Investors X-B, L.P.Strategicbuyout2020—8.7%1.31x0.00x
Ten Coves Capital III, L.P.Ten Coves Capitalprivate equity2018—8.7%1.20x0.01x
Highway 12 Venture Fund II, L.P.Highway 12 Venturesventure capital2006—8.6%1.88x1.88x
Lightspeed Venture Partners Select VLightspeed Venture Partnersventure capital2021—8.6%1.14x0.00x
Apollo Investment Fund VI LPApollobuyout2006—8.6%1.52x1.50x
Greycroft Growth, L.P.Greycroftgrowth equity2014—8.6%1.74x0.97x
Partners Group Secondary 2008Partners Groupsecondaries2007—8.6%1.51x1.51x
Carlyle Partners VIII, L.P.Carlyle Groupbuyout2022—8.6%1.16x0.20x
AEP IV OPERS Co-InvestmentsAEPco investment2018—8.6%1.49x0.23x
Deerpath Capital VIDeerpathbuyout2021—8.6%1.27x0.27x
NB Co-Investment Partners (fka LB Co-Investment Partners)NB Coco investment2005—8.6%1.46x1.46x
Platinum Equity Capital Partners V, L.P.Platinumbuyout2019—8.6%1.36x0.37x
RRJ Capital Master Fund IIRRJbuyout2013—8.6%1.34x1.27x
Spark Capital VISparkventure capital2020—8.6%1.40x—
TowerBrook Investors III LPTowerBrookbuyout2008—8.6%1.41x1.41x
Apollo Investment Fund VIApollobuyout2006—8.6%1.51x1.50x
DRA Growth and Income Fund X, LLCDRA Advisorsgrowth equity2019—8.6%1.24x0.39x
GCM Grosvenor NYCPPF Emerging Manager FundGCM Grosvenorfund of funds2008—8.6%1.45x1.45x
Cornerstone Equity Partners IV, LPCornerstonebuyout1996—8.6%1.60x1.62x
Madison Dearborn Capital Partners III, L.P.Madison Dearborn Partnersbuyout1999—8.6%1.50x1.49x
Pathway Private Equity Fund XVIII, LLCPathway Capital Managementfund of funds2006—8.6%1.61x1.59x
Partners Group MCAPartners Groupfund of funds2004—8.6%—1.52x
Ironsides Co-Investment Fund VIIronsides Coco investment2021—8.5%1.27x0.24x
Bridgepoint Europe IV, L.P. (Secondary Purchase)Bridgepointco investment2016—8.5%1.30x1.16x
GcnstarCapital Partners IV, L.P.Genstar Capitalprivate equity2004—8.5%—1.56x
Olympus Growth Fund IV, L.P.Olympus Partnersgrowth equity2003—8.5%1.54x1.54x
Endeavour Capital Fund VI, L.P.Endeavour Capitalfund of funds2011—8.5%1.49x1.49x
ACON Equity Partners IVAcon Investmentsbuyout2016—8.5%1.42x0.68x
Permira Europe IVPermirabuyout2006—8.5%1.59x1.59x
HarbourVest Partners II, L.P.HarbourVest Partners (Canada)secondaries1985—8.5%1.90x1.93x

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).