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
FS Equity Partners VII LP	Freeman Spogli	buyout	2014	—	8.5%	1.56x	0.91x
Keystone Partners L.P. -Series A	Keystone	venture capital	2020	—	8.5%	1.13x	0.79x
Pccp IX	Pccp	buyout	2022	—	8.5%	1.13x	—
NPI	—	buyout	—	—	8.5%	—	—
Polaris Partners VII	Polaris Partners	venture capital	2014	—	8.5%	1.88x	0.68x
Revelstoke III	Revelstoke Capital Partners	buyout	2021	—	8.5%	1.18x	0.13x
Farol Fund II	Farol Asset Management	buyout	2018	—	8.5%	1.49x	0.60x
Endeavour Capital Fund VIII, L.P.	Endeavour Capital	fund of funds	2021	—	8.5%	1.21x	0.15x
Harrison St. RE Partners VI, L.P.	Harrison Street Real Estate Capital	co investment	2016	—	8.5%	1.43x	0.82x
Pharos Capital Co-Investments, LP	Pharos Capital Group	buyout	2008	—	8.4%	1.69x	1.69x
J.H. Whitney VII	J.H. Whitney	buyout	2010	—	8.4%	1.24x	1.24x
Azalea Capital III	Azalea Capital	buyout	—	—	8.4%	—	—
Blackstone Capital Partners	The Blackstone Group	buyout	2019	—	8.4%	—	1.64x
Blackstone Capital Partners VIII LP	The Blackstone Group	buyout	2021	—	8.4%	1.25x	0.26x
Interwest Partners II	InterWest	venture capital	1982	—	8.4%	1.74x	1.74x
PIMCO BRAVO Fund III Onshore Feeder, LP	PIMCO Europe	fund of funds	2016	—	8.4%	1.48x	0.98x
PIMCO BRAVO III	PIMCO Europe	fund of funds	2016	—	8.4%	1.48x	0.82x
Goldner Hawn VIII	Goldner Hawn	buyout	2023	—	8.4%	1.15x	0.00x
Gores Capital Partners I LP	Gores	buyout	2003	—	8.4%	1.30x	1.30x
Mesirow Financial Private Equity Partnership Fund III	Mesirow	buyout	2005	—	8.4%	1.72x	1.61x
RLJ Equity Partners Fund II, L.P.	RLJ	buyout	2019	—	8.4%	1.20x	0.30x
Shore Co-Investment Holdings II	Shore Co	co investment	2014	—	8.4%	—	1.11x
Asia Alternatives FL Investor LP	Asia Alternatives Management	buyout	2014	—	8.4%	1.57x	0.90x
GCM Grosvenor NYCFDPF Emerging Manager Fund, L.P.	GCM Grosvenor	fund of funds	2008	—	8.4%	1.46x	1.18x
Pharos Capital Co-Investment, LLC	Pharos Capital Group	co investment	2007	—	8.4%	1.70x	1.69x
AE Industrial Partners Fund I, L.P.	AE Industrial Partners	buyout	2015	—	8.4%	1.36x	1.08x
Icon Partners V, L.P.	Clearlake	buyout	2021	—	8.4%	1.33x	0.00x
Constitution Fund V, LLC Series B	Constitution	buyout	2017	—	8.4%	1.50x	0.90x
Castlelake V, L.P.	Castlelake Pte. Ltd.	buyout	2018	—	8.3%	1.46x	1.00x
Welsh, Carson, Anderson & Stowe X, L.P.	Welsh, Carson, Anderson & Stowe	buyout	2005	—	8.3%	1.70x	1.70x
Carlyle Partners VII LP	Carlyle Group	buyout	2018	—	8.3%	1.39x	0.35x
EQT IX (No. 2) USD SCSP	EQT	buyout	2020	—	8.3%	1.26x	0.30x
Raine Partners IV, L.P.	Raine	buyout	2022	—	8.3%	1.11x	0.00x
Lightspeed Venture Partners VII	Lightspeed Venture Partners	venture capital	2005	—	8.3%	1.43x	1.43x
H.I.G. Brazil & Latin America Partners	H.I.G. Capital	growth equity	2015	—	8.3%	1.41x	0.58x
Permira European Fund IV, L.P.	Permira	buyout	2007	—	8.3%	1.56x	1.56x
Permira IV LP (EUR)	Permira	buyout	2006	—	8.3%	1.56x	1.56x
Onex Partners IV PE	Onex Corporation	buyout	2013	—	8.3%	1.34x	0.65x
Greenfield V	Green	buyout	2007	—	8.3%	1.38x	1.38x
TowerBrook III	TowerBrook	buyout	2008	—	8.3%	1.29x	1.29x
AACP China Debt Investors, LP	Asia Alternatives Management	buyout	2008	—	8.3%	1.27x	1.27x
GGV IV	Notable Capital	venture capital	2011	—	8.3%	1.73x	1.68x
Paul Capital Partners VIII-B	Paul Capital Partners	buyout	2004	—	8.3%	1.36x	1.35x
Water Street Capital Partners, LP	Water Street Healthcare	buyout	2005	—	8.3%	1.47x	0.86x
GGV Capital IV, L.P.	Notable Capital	venture capital	2012	—	8.3%	1.70x	1.66x
H.I.G Whitehorse Trinity, L.P.	H.I.G. Capital	growth equity	—	—	8.3%	1.48x	0.76x
CGW Southeast Partners IV	CGW Southeast Partners	buyout	1999	—	8.3%	1.54x	1.54x
M/C Venture Partners V, L.P.	Mc Credit	venture capital	2000	—	8.3%	1.61x	1.61x
OSP Value Fund III, L.P.	Oak Street Real Estate Capital	buyout	2020	—	8.3%	1.20x	0.30x
Altaris Health Partners V	Altaris	buyout	2020	—	8.3%	1.23x	0.02x
SSG Capital Partners III, L.P.	SSG	buyout	2014	—	8.3%	1.26x	1.24x
Ventech Partners, L.P.	Ventech	venture capital	1983	—	8.2%	1.50x	1.48x
PSG Encore L.P.	PSG Equity	co investment	2022	—	8.2%	1.12x	0.02x
NM Pacific, L.P.	NM Pacific, L.P	buyout	2021	—	8.2%	1.21x	0.01x
Horsley Bridge International IV, L.P.	HORSLEY BRIDGE VENTURE	venture capital	2006	—	8.2%	1.85x	1.84x
Milestone Partners IV, L.P.	Milestone	buyout	2011	—	8.2%	1.42x	1.26x
H.I.G. Bayside Loan Ops Fund III (Europe) PE	H.I.G. Capital	growth equity	2012	—	8.2%	1.34x	1.09x
Permira IV L.P.2	Permira	buyout	2006	—	8.2%	1.58x	1.41x
Carlyle Asia Partners II, L.P.	Carlyle Group	buyout	2006	—	8.2%	1.53x	1.53x
BC Partners Fund XI	BC Partners	buyout	2020	—	8.2%	1.18x	0.00x
Carpenter Community BancFund-A	Carpenter Community BancFund-A	buyout	2008	—	8.2%	1.69x	1.69x
Baring Asia Private Equity Fund V	Baring Private Equity Asia	buyout	2010	—	8.2%	1.63x	1.59x
Blackstone Capital Partners Sub-Fund V	The Blackstone Group	buyout	2005	—	8.2%	1.68x	1.40x
Golden State Investment Fund, LLC	Golden State	buyout	2006	—	8.2%	1.55x	1.39x
Honeydew Co-Invest, L.P.	Honeydew Co-Invest, L.P	co investment	2020	—	8.2%	1.36x	—
HSBC Private Equity Fund II	HSBC	buyout	1997	—	8.2%	1.33x	1.33x
Merced Partners V	Merced Capital	buyout	2017	—	8.2%	1.62x	1.44x
Pathway Private Equity Fund III-Co Series D	Pathway Capital Management	co investment	2021	—	8.2%	1.27x	0.08x
Riverside Capital Appreciation Fund 2008, L.P.	The Riverside Company	buyout	2003	—	8.2%	1.32x	1.32x
SSG III	SSG Capital Management	buyout	2014	—	8.2%	1.22x	1.21x
BC European Capital XI, L.P.	BC Partners	buyout	2020	—	8.2%	1.18x	0.10x
Revelstoke Single Asset Fund I, L.P.	Revelstoke Capital Partners	buyout	2019	—	8.2%	1.50x	0.00x
Lexington Capital Partners II, L.P.	Lexington Partners	secondaries	1998	—	8.2%	1.30x	1.30x
Clearstone Venture Partners III-A, L.P	Clearstone Venture Partners	venture capital	2004	—	8.2%	2.79x	2.07x
Clearlake Opportunities Partners III	Clearlake Capital Group	buyout	2022	—	8.2%	1.18x	0.01x
New Enterprise Associates 16	New Enterprise Associates (NEA)	venture capital	2017	—	8.2%	1.52x	0.42x
Accel-KKR Company LLC	Accel-KKR	buyout	2000	—	8.2%	2.30x	2.32x
European Strategic Partners 2008 A	Standard Life Investments	secondaries	2010	—	8.1%	—	1.44x
Europa Fund III	Europa Capital	buyout	2009	—	8.1%	1.28x	1.28x
RFE Investment Partners VIII, L.P.	RFE Investment Partners	buyout	2012	—	8.1%	1.50x	1.50x
Spire Capital Partners III	Spire Capital Partners	buyout	2013	—	8.1%	1.52x	0.85x
H.I.G. Growth Buyouts & Equity Fund III	H.I.G. Capital	growth equity	2018	—	8.1%	1.21x	0.20x
Permira VII L.P.1	Permira	buyout	2019	—	8.1%	1.39x	0.17x
Blue Point Capital Partners IV, L.P.	Blue Point	buyout	2018	—	8.1%	1.36x	0.54x
Cerberus Institutional Partners, Series IV, L.P	Cerberus	buyout	2006	—	8.1%	1.46x	0.40x
Lindsay Goldberg III LP	Lindsay Goldberg	buyout	2008	—	8.1%	1.35x	1.35x
MSD SBAFLA Fund LP	Msd Sbafla	buyout	2020	—	8.1%	1.14x	0.61x
Spark Capital	Spark	venture capital	2005	—	8.1%	1.40x	1.35x
American Securities Partners VII	American Securities	buyout	2016	—	8.1%	1.47x	1.47x
American Securities Partners VII, L.P.	American Securities	buyout	2016	—	8.1%	1.47x	1.47x
Asia Alternatives FL Investor III LP	Asia Alternatives Management	buyout	2020	—	8.1%	1.20x	0.14x
Blackstone Capital Partnc'rs Sub-Fund V	The Blackstone Group	private equity	2005	—	8.1%	—	1.30x
H.I.G. Bayside Loan Opportunity Fund IV, L.P.	H.I.G. Capital	growth equity	—	—	8.0%	1.76x	1.46x
ComVest Investment Partners III	Comvest Credit	buyout	2007	—	8.0%	1.55x	1.55x
The Veritas Capital Vantage Fund, L.P.	Veritas Capital	buyout	—	—	8.0%	1.22x	0.00x
Blackstone Capital Partners V LP	The Blackstone Group	buyout	2006	—	8.0%	1.62x	1.62x
CDH Fund V	Cdh Venture Management Company Limited	buyout	2012	—	8.0%	1.46x	1.22x
Vista Equity Endeavor II	Vista Equity Partners	buyout	2019	—	8.0%	1.23x	0.12x
Industry Ventures Fund VI, L.P.	Industry Ventures	venture capital	2011	—	8.0%	1.37x	1.36x
ICG Europe Fund VIII SCSp	Intermediate Capital Group	buyout	2022	—	8.0%	1.10x	0.10x

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).