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
| Fund | Manager | Strategy | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|---|---|
| Warburg Pincus Energy (Private Equity) | Warburg Pincus | private equity | 2014 | — | -6.5% | 0.85x | 0.21x |
| Rosetta Capital IV, L.P. | Rosetta Capital Ltd. | venture capital | 2006 | — | -6.6% | 0.61x | 0.61x |
| Liberty Partners Pool VI | Liberty | buyout | 2002 | — | -6.6% | 0.86x | 0.86x |
| Lion Capital Fund III | Lion Capital | buyout | 2010 | — | -6.6% | 0.74x | 0.73x |
| Oxford Bioscience Partners IV | Oxford Bioscience Partners | private equity | 2001 | — | -6.6% | 0.71x | 0.71x |
| Oxford Bioscience Partners IV, L.P | Oxford Bioscience Partners | private equity | 2001 | — | -6.6% | 0.71x | 0.71x |
| BCI Growth IV | BCI | growth equity | 1996 | — | -6.7% | 0.67x | 0.67x |
| InterWest Partners VIII, L.P. Venture Capital | InterWest | venture capital | 2000 | — | -6.8% | 0.58x | 0.57x |
| Liberty Partners Pool VII* | Liberty | buyout | 2005 | — | -6.8% | 0.85x | 0.84x |
| Highway 12 Venture Fund, L.P. | Highway 12 Ventures | venture capital | 2001 | — | -6.8% | 0.64x | 0.64x |
| Mesirow Capital Partners Co-Invest IX | Mesirow | buyout | 2005 | — | -6.9% | 0.55x | 0.55x |
| InterWest Partners VIII, L.P | — | venture capital | 2000 | — | -7.0% | 0.62x | 0.62x |
| StarVest Partners II | StarVest Partners | venture capital | 2007 | — | -7.0% | 1.34x | 1.34x |
| Atria Private Equity Fund III FC PR | Atria Private | buyout | 2006 | — | -7.0% | 0.63x | 0.63x |
| InterWest Partners VIII | — | venture capital | 2000 | — | -7.0% | 0.62x | 0.62x |
| CT Horizon Legacy Fund, L.P. | General Atlantic | buyout | 2008 | — | -7.1% | 0.70x | 0.70x |
| 1315 Capital Fund III | 1315 Capital | venture capital | 2022 | — | -7.1% | 0.94x | 0.00x |
| WLR Recovery Fund III, L.P. | WLR Recovery | turnaround | 2005 | — | -7.2% | 0.69x | 0.65x |
| Centerbridge Capital Partners II, LP | Centerbridge Partners, L.P. | buyout | 2010 | — | -7.2% | 0.81x | 0.81x |
| Lion Capital Fund II | Lion Capital | buyout | 2007 | — | -7.3% | 0.68x | 0.68x |
| Medica III Investments (International) L.P. | Medica Venture Partners | buyout | 2004 | — | -7.3% | 0.59x | 0.42x |
| Fortress Investment Fund V, L.P. - Co-Investment | Fortress Investment Group | co investment | 2007 | — | -7.4% | 0.40x | 0.32x |
| Agilitas 2020 Private Equity Fund | Agilitas Private Equity | private equity | 2021 | — | -7.4% | 0.86x | 0.00x |
| USV 2021 | Union Square Ventures (USV) | venture capital | 2021 | — | -7.4% | 0.78x | 0.00x |
| Hicks, Muse, Tate & Furst Equity Fund IV | Hicks Muse Tate Furst | buyout | 1998 | — | -7.4% | 0.73x | 0.73x |
| Allegra Capital Partners IV, L.P. | Allegra Capital Partners | buyout | 2000 | — | -7.4% | 0.53x | 0.53x |
| Versa Capital Fund III, L.P. | Versa Capital Management | buyout | 2015 | — | -7.5% | 0.55x | 0.02x |
| Great Hill Equity Partners VIII, L.P. | Great Hill Partners | growth equity | 2022 | — | -7.5% | 0.92x | 0.00x |
| Accel Partners VI L.P. | Accel | venture capital | 1998 | — | -7.6% | 0.39x | 0.36x |
| Cortec Group Fund VIII, L.P. | Cortec Group | buyout | 2024 | — | -7.6% | 0.93x | 0.02x |
| Hahn & Company IV L.P. | Hahn & Company | buyout | 2024 | — | -7.6% | 0.94x | 0.01x |
| Tiger Global PIP XV L.P. | Tiger Global Management | venture capital | 2021 | — | -7.6% | 0.78x | — |
| VantagePoint CleanTech Partners, L.P. | VantagePoint Capital Partners | venture capital | 2006 | — | -7.6% | 0.68x | 0.68x |
| Platform Texas Fund I, LLC | Ti Platform | buyout | — | — | -7.7% | 0.88x | 0.02x |
| CityView Western Fund I, L.P. | Cityview | buyout | 2016 | — | -7.8% | 0.67x | 0.11x |
| Cornerstone Equity Investors IV | Cornerstone | buyout | 1996 | — | -7.8% | 0.80x | 0.81x |
| VantagePoint Venture Partners 2006 (Q), L.P. | VantagePoint Capital Partners | venture capital | 2006 | — | -7.8% | 0.40x | 0.25x |
| Beacon Capital Strategic Partners V, L.P. | Beacon Capital | secondaries | 2007 | — | -7.9% | 0.62x | 0.62x |
| Austin Ventures VI, L.P. | Austin | venture capital | 1998 | — | -7.9% | 0.60x | 0.63x |
| Sentient Global Resources Fund III, L.P. | — | buyout | 2008 | — | -7.9% | 0.65x | 0.43x |
| Ara Fund Co-Investment T, LP | Ara | buyout | — | — | -8.0% | 0.90x | — |
| Crescendo III, L.P. | Crescendo Ventures | buyout | 1998 | — | -8.1% | 0.60x | 0.60x |
| HSRE-Coyote Maine PERS Core Co-Investment | Harrison Street | co investment | 2020 | — | -8.1% | 0.72x | 0.18x |
| Nogales Investors Fund I , LP | Nogales Investors Management | buyout | 2001 | — | -8.1% | 0.71x | 0.71x |
| Horsely Bridge XIII Venture | HORSLEY BRIDGE VENTURE | venture capital | 2019 | — | -8.2% | — | — |
| Project Sumo | — | growth equity | 2011 | — | -8.3% | 0.51x | 0.32x |
| Water Street V | Water Street Healthcare Partners | buyout | 2022 | — | -8.4% | 0.86x | 0.00x |
| Spectrum Equity X-A L.P. | Spectrum Equity | venture capital | 2024 | — | -8.5% | 0.94x | — |
| TSG Capital Fund II, L.P. | TSG | buyout | 1995 | — | -8.5% | 0.66x | 0.66x |
| Havencrest Healthcare Partners Fund II, L.P | Havencrest Capital Management | buyout | 2022 | — | -8.6% | 0.85x | 0.02x |
| Blackstone Partners IX, L.P. | The Blackstone Group | buyout | 2025 | — | -8.7% | 0.91x | — |
| Prism Venture Partners V-A | Prism | venture capital | 2005 | — | -8.7% | 0.64x | 0.64x |
| Intersouth Partners VII, L.P. | Intersouth | venture capital | 2006 | — | -8.8% | 0.69x | 0.69x |
| GreenOak III | Green | buyout | 2017 | — | -8.8% | 0.70x | 0.10x |
| Hicks Muse Tate Furst IV LP | Hicks Muse Tate Furst | buyout | 1998 | — | -8.8% | 0.63x | 0.63x |
| Ara Fund III, LP | Ara Partners | buyout | 2023 | — | -8.8% | 0.89x | 0.00x |
| Menlo Ventures VIII, L.P. | Menlo | venture capital | 1999 | — | -8.9% | 0.50x | 0.50x |
| Alterra IOS Venture III, L.P. | Alterra Property Group | venture capital | 2023 | — | -9.0% | 0.96x | 0.01x |
| Core Capital Partners II L.P. | Core Capital | buyout | 2015 | — | -9.1% | 0.76x | 0.76x |
| Co-Investment #2 | — | co investment | 2020 | — | -9.2% | 0.63x | 0.08x |
| Phoenix Partners, L.P. - WSIB Secondary | Phoenix | buyout | 1990 | — | -9.4% | 0.70x | 0.70x |
| Advent Central & Eastern Europe IV LP | Advent International | buyout | 2008 | — | -9.5% | 0.64x | 0.64x |
| ZMC III, L.P. | Zmc | co investment | 2020 | — | -9.5% | 0.75x | 0.04x |
| Investitori Associati IV | Investitori Associati | buyout | 2004 | — | -9.5% | 0.57x | 0.57x |
| Project California | — | buyout | 2013 | — | -9.6% | 0.64x | 0.50x |
| TWCP, L.P. | Wcp | buyout | 2000 | — | -9.6% | 0.60x | 0.63x |
| Willis Stein & Partners II LP | Willis Stein | buyout | 1998 | — | -9.7% | 0.58x | 0.58x |
| De Novo Ventures III | De Novo Ventures | private equity | 2006 | — | -9.8% | 0.69x | 0.69x |
| Thomas Weisel Capital Partners | Thomas Weisel | buyout | 1999 | — | -9.8% | 0.59x | 0.59x |
| Harvest Partners III, L.P. | Harvest | buyout | 1997 | — | -9.8% | 0.56x | 0.56x |
| De Novo Ventures III, L.P | De Novo Ventures | private equity | 2006 | — | -9.8% | 0.69x | 0.69x |
| Tritium III, LP | Tritium Partners | buyout | — | — | -9.9% | 0.84x | — |
| Siris Partners IV | Siris | buyout | 2018 | — | -9.9% | 0.74x | 0.74x |
| Focus Ventures III | Focus | venture capital | 2006 | — | -10.0% | 0.54x | 0.54x |
| Storm Ventures Fund VII, L.P. | Storm Ventures | venture capital | 2022 | — | -10.1% | 0.83x | 0.00x |
| KKR Enterprise Co-Invest AIV A | Kohlberg Kravis Roberts | co investment | 2019 | — | -10.1% | 0.91x | 0.88x |
| Opus Capital Venture Partners VI | Opus Capital | venture capital | 2011 | — | -10.1% | 0.64x | 0.64x |
| Terra Firma Capital Partners III | Terra Firma | buyout | 2006 | — | -10.1% | 0.43x | 0.43x |
| Terra Firma Capital Partners III | Terra Firma Capital Partners | buyout | 2006 | — | -10.1% | 0.43x | 0.43x |
| OpenView Venture Partners VI LP | OpenView Venture Partners | venture capital | 2020 | — | -10.2% | 0.68x | 0.13x |
| J.C. Flowers Fund II | Jc Flowers | private equity | 2006 | — | -10.2% | 0.45x | 0.45x |
| J.C. Flowers II, L.P. | Jc Flowers | buyout | 2006 | — | -10.2% | 0.45x | 0.45x |
| Thomas, McNerney & Partners, L.P. | Thomas, McNerney & Partners | buyout | 2002 | — | -10.3% | 0.54x | 0.53x |
| FountainVest Partners Fund IV | FountainVest Partners | buyout | 2021 | — | -10.3% | 0.76x | 0.00x |
| Shasta Ventures IV, L.P. | Shasta Ventures | venture capital | 2014 | — | -10.4% | 0.47x | 0.14x |
| FountainVest Capital Partners Fund IV, L.P. | FountainVest Partners | buyout | 2021 | — | -10.4% | 0.70x | 0.00x |
| AFIG Fund II | AFIG | buyout | 2020 | — | -10.6% | 0.93x | 0.33x |
| Insight Vision Capital II L.P. | Insight Partners | growth equity | 2022 | — | -10.6% | 0.85x | 0.02x |
| W Capital Partners | W Capital Partners | venture capital | 2004 | — | -10.6% | 0.74x | 0.74x |
| Apax Partners Europe VII | Apax | buyout | — | — | -10.6% | — | — |
| BCI Growth V | BCI | growth equity | 1999 | — | -10.8% | 0.47x | 0.47x |
| Pine Brook Capital Partners II | Pine Brook | buyout | 2012 | — | -10.8% | 0.70x | 0.70x |
| Relativity Fund | Relativity | buyout | 2008 | — | -10.8% | 0.50x | 0.50x |
| Jungle Ventures Fund V, L.P. | Jungle Ventures | venture capital | 2024 | — | -10.8% | 0.89x | 0.00x |
| Thomas, McNerney & Partners I, L.P. | Thomas, McNerney & Partners | buyout | 2002 | — | -10.9% | 0.53x | 0.53x |
| J.H. Whitney IV | J.H. Whitney | buyout | 1999 | — | -10.9% | 0.42x | 0.42x |
| Ulu Ventures Fund III | Ulu Ventures | venture capital | 2020 | — | -11.0% | 0.68x | 0.00x |
| Vistria Fund V, L.P. | Vistria | buyout | 2022 | — | -11.0% | 0.91x | 0.01x |
| HONGSHAN CAPITAL SEED FUND III LP | HongShan Capital Group | venture capital | 2022 | — | -11.1% | 0.85x | 0.00x |
| Frazier Healthcare III, L.P. | Frazier Healthcare Partners | buyout | 1998 | — | -11.1% | 0.50x | 0.47x |
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).