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 |
|---|---|---|---|---|---|---|---|
| Olympus Capital Asia III | Olympus Partners | buyout | 2007 | — | -11.2% | 0.60x | 0.60x |
| HONGSHAN CAPITAL VENTURE FUND IX LP | HongShan Capital Group | venture capital | 2022 | — | -11.2% | 0.87x | 0.00x |
| Reservoir Capital | RESERVOIR | buyout | — | — | -11.3% | — | — |
| Reverence Capital Partners Opportunities Fund V, L | Reverence Capital Partners | buyout | 2022 | — | -11.4% | 0.90x | 0.00x |
| Richardson Capital Private Equity Limited Partnership No.2A, 2B and 2C | Richardson Capital | buyout | 2006 | — | -11.4% | 0.53x | 0.53x |
| Palomar Ventures III L.P. | Palomar Ventures | private equity | 2004 | — | -11.5% | 0.56x | 0.56x |
| American Industrial Partners Capital Fund II | American Industrial Partners | buyout | 1995 | — | -11.6% | 0.70x | 0.73x |
| Asia Alternatives FL Investor IV, LP | Asia Alternatives Management | buyout | 2024 | — | -12.2% | 0.90x | 0.00x |
| Castile Ventures III | Castile Ventures | venture capital | 2006 | — | -12.2% | 0.50x | 0.28x |
| Affinity Ventures V, L.P. | Affinity Equity Partners | venture capital | 2008 | — | -12.3% | 0.47x | 0.41x |
| NOAL | — | buyout | 2017 | — | -12.3% | 0.62x | 0.14x |
| PCG Clean Energy & Technology Fund (East) | PCG Asset Management | venture capital | 2008 | — | -12.3% | 0.35x | 0.35x |
| VantagePoint Venture Partners 2006 | VantagePoint Capital Partners | venture capital | 2006 | — | -12.5% | 0.33x | 0.33x |
| Lime Rock Partners III, L.P. | Lime Rock Partners | buyout | 2004 | — | -12.5% | 0.53x | 0.49x |
| Giza Venture Fund IV | Giza Venture | venture capital | 2006 | — | -12.6% | 0.42x | 0.42x |
| H&F Spock 1, L.P. | Hellman & Friedman | co investment | 2024 | — | -12.9% | 0.81x | 0.00x |
| C-III Capital Partners LLC | C-Iii | buyout | 2010 | — | -12.9% | 0.53x | 0.53x |
| TA XV, L.P. | TA Associates | growth equity | 2025 | — | -13.1% | 0.91x | 0.00x |
| TA Associates XV LP | TA Associates | growth equity | 2025 | — | -13.1% | 0.87x | — |
| The Paragon Fund IV GmbH & Co. KG | Paragon Partners | buyout | 2023 | — | -13.2% | 0.96x | 0.00x |
| De Novo Ventures II, L.P | De Novo Ventures | private equity | 2003 | — | -13.3% | 0.40x | 0.40x |
| De Novo Ventures II | De Novo Ventures | private equity | 2003 | — | -13.3% | 0.40x | 0.40x |
| Oxford Bioscience Partners III, L.P | Oxford Bioscience Partners | private equity | 1999 | — | -13.4% | 0.38x | 0.38x |
| Oxford Bioscience Partners III | Oxford Bioscience Partners | private equity | 1999 | — | -13.4% | 0.38x | 0.38x |
| Falfurrias Growth Partners I | Falfurrias | growth equity | 2023 | — | -13.5% | — | — |
| TSG Capital Fund III LP | TSG | buyout | 1998 | — | -13.5% | 0.60x | 0.57x |
| Whitman Peterson Fund V | Whitman Peterson | buyout | 2024 | — | -13.5% | 0.89x | 0.00x |
| Innovation Endeavors V LP | Innovation Endeavors | venture capital | 2023 | — | -13.7% | 0.87x | 0.00x |
| Innovation Alpha V L.P. | Integral | buyout | 2024 | — | -13.8% | 0.91x | 0.00x |
| STG VII, L.P. | Stg | buyout | 2023 | — | -13.8% | 0.88x | 0.00x |
| Tri Continental Capital VII | Tri Continental Capital | fund of funds | 2009 | — | -13.9% | 0.17x | 0.16x |
| SCP Vitalife Partners Il Fund | SCP Vitalife Partners | buyout | 2007 | — | -14.0% | 0.14x | 0.00x |
| Paladin Homeland Security Fund (NY City) | Paladin Capital Group | buyout | 2004 | — | -14.2% | 0.38x | 0.38x |
| SCP Vitalife Partners II Fund | SCP Vitalife Partners | growth equity | 2007 | — | -14.2% | 0.14x | 0.00x |
| Paladin Homeland Security Fund (NY), L.P | Paladin Capital Group | buyout | 2004 | — | -14.2% | 0.38x | — |
| Shamrock Capital Content Fund III, L.P. | Shamrock Capital | growth equity | 2022 | — | -14.4% | 0.89x | 0.02x |
| Clyde Blowers Capital Fund III | Clyde Blowers Capital | buyout | 2012 | — | -14.4% | 0.76x | 0.76x |
| Project Lion | — | growth equity | 2017 | — | -14.4% | 0.55x | 0.25x |
| Ulu Ventures Fund IV | Ulu Ventures | venture capital | 2023 | — | -14.8% | 0.86x | 0.00x |
| Technology Partners Fund VI, L.P. | Technology Impact | growth equity | 1998 | — | -14.8% | 0.52x | 0.52x |
| S.W. Pelham Fund, LP | S.W. Pelham | buyout | 1998 | — | -15.0% | 0.40x | 0.40x |
| Perseus 2000 Expansion Fund, L.L.C. | Perseus | private equity | 2004 | — | -15.1% | 0.50x | 0.28x |
| Constitution Fund V, LLC Series D | Constitution | buyout | 2019 | — | -15.2% | 0.50x | 0.00x |
| Graycliff Private Equity Partners V | Graycliff Partners | buyout | 2025 | — | -15.4% | 0.90x | 0.00x |
| Blue Sage Capital IV, L.P. | Blue Sage Capital | buyout | 2024 | — | -15.6% | 0.84x | 0.00x |
| OVP Venture Partners VI, L.P. | OVP Venture Partners | venture capital | 2001 | — | -15.6% | 0.30x | 0.28x |
| Crestview Partners III (Co-Investment B), L.P. | Crestview Partners | buyout | 2014 | — | -15.7% | 0.31x | 0.31x |
| Sentient Global Resources Fund IV, L.P. | Sentient Global Resources | buyout | 2011 | — | -16.0% | 0.40x | 0.10x |
| Olympic Venture Partners V | OVP Venture Partners | venture capital | 2000 | — | -16.7% | 0.27x | 0.27x |
| Crestview II | Crestview Partners | buyout | 2013 | — | -16.8% | — | — |
| BlackFinFinancial Services Fund IV | BlackFin Capital Partners | private equity | 2024 | — | -17.0% | 0.86x | 0.00x |
| Sequoia Capital Franchise Fund | Sequoia Capital | venture capital | 1999 | — | -17.0% | 0.71x | 0.37x |
| Stellex Capital Partners III | Stellex Capital Management | buyout | 2024 | — | -17.1% | 0.89x | 0.06x |
| VantagePoint Cleantech Partners II | VantagePoint Capital Partners | venture capital | 2008 | — | -17.4% | 0.24x | 0.24x |
| PSG VI L.P. | PSG Equity | growth equity | 2023 | — | -17.5% | 1.00x | 0.20x |
| Kleiner Perkins Caufield & Byers X-A, L.P. | Kleiner Perkins | private equity | 2000 | — | -17.5% | 0.59x | 0.00x |
| SCP Vitalife Partners II, L.P. | SCP Vitalife Partners | venture capital | 2007 | — | -17.7% | 0.07x | 0.07x |
| HighBAR Partners II, L.P. | HighBar Partners | buyout | 2009 | — | -17.9% | 0.40x | 0.40x |
| First Reserve Fund XII | First Reserve Corporation | buyout | 2008 | — | -18.0% | 0.52x | 0.52x |
| TrueBridge Capital Partners Fund VIII (Parallel), L.P. | TrueBridge Capital Partners | fund of funds | 2023 | — | -18.1% | 0.87x | 0.00x |
| Versa Capital Fund II, L.P. | Versa Capital Management | buyout | 2008 | — | -18.3% | 0.50x | 0.45x |
| Windjammer Capital Fund VI | Windjammer Capital | buyout | 2023 | — | -18.5% | 0.75x | 0.00x |
| Aldus/New York Fire Fund, L.P. | Aldus Equity | buyout | 2005 | — | -18.5% | 0.09x | — |
| Leeds Equity Partners VIII, L.P. | Leeds | buyout | 2024 | — | -18.6% | 0.81x | 0.00x |
| CalPERS Clean Energy & Technology Fund, LLC | CalPERS Clean Energy & Technology | venture capital | 2007 | — | -18.7% | 0.29x | 0.28x |
| Sunstone Partners III | Sunstone Capital | venture capital | 2022 | — | -18.8% | 0.83x | 0.00x |
| Craton Equity Investors II, L.P. | Craton | buyout | 2012 | — | -19.1% | 0.26x | 0.26x |
| The Column Group Fund V | The Column Group | venture capital | 2022 | — | -19.1% | 0.77x | 0.00x |
| Horsley Bridge Venture 15, L.P. | HORSLEY BRIDGE VENTURE | venture capital | 2024 | — | -19.2% | — | — |
| Liberty Partners Pool IV | Liberty | buyout | 1998 | — | -19.2% | 0.67x | 0.67x |
| Project Danube | — | buyout | 2015 | — | -19.5% | 0.19x | 0.00x |
| RiverGlade Capital II, L.P. | RiverGlade | buyout | — | — | -19.7% | 0.79x | — |
| Sofinnova Venture Partners VI | Sofinnova Ventures | venture capital | 1999 | — | -19.8% | 0.10x | 0.15x |
| Venture Strategy Partners III | Venture First | venture capital | 2004 | — | -19.8% | 0.84x | 0.84x |
| Project Pathway | — | buyout | 2020 | — | -19.8% | 0.30x | 0.00x |
| Alphi Capital I, L.P. | Alphi Capital | buyout | 2023 | — | -20.0% | 0.80x | 0.00x |
| Pharos Capital Partners III, LP | Pharos Capital Group | buyout | 2012 | — | -20.0% | 0.70x | 0.71x |
| Connecticut Financial Development, LP | Connecticut | buyout | 1993 | — | -20.1% | 0.20x | 0.20x |
| Lone Star Growth Capital | Lone Star Japan Acquisitions | growth equity | 2006 | — | -20.5% | 0.60x | 0.64x |
| Arsenal Capital Partners Growth | Arsenal | growth equity | 2021 | — | -20.6% | 0.73x | 0.30x |
| CLP 2014 | CLP 2014 (fka Perseus | buyout | 2006 | — | -20.7% | 0.39x | 0.39x |
| CLP 2014 (fka Perseus VII) | CLP 2014 (fka Perseus | buyout | 2006 | — | -20.7% | 0.38x | — |
| GCOF III Co-Invest (TC), L.P. | GCOF | buyout | 2021 | — | -20.8% | 0.61x | 0.00x |
| LightBay Investment Partners II | LightBay | buyout | 2021 | — | -21.4% | 0.85x | 0.00x |
| Forstmann Little Equity Partnership VI, L.P. | Forstmann Little | buyout | 2000 | — | -21.6% | 0.30x | 0.30x |
| Enhanced Equity Fund II, L.P. | Enhanced | buyout | 2010 | — | -21.6% | 0.55x | 0.55x |
| Sungate | Sun Capital | buyout | 2005 | — | -22.3% | 0.00x | 0.05x |
| Project Dolphin (HGGC I) | Project Dolphin (HGGC | buyout | 2002 | — | -22.9% | 0.30x | 0.30x |
| Longroad Capital Partners III, L.P. | Longroad | buyout | 2009 | — | -23.1% | 0.51x | 0.51x |
| DCVC | Dcvc Bio | venture capital | 2024 | — | -23.1% | 0.88x | 0.06x |
| M/C Partners IX | Mc Credit | venture capital | 2024 | — | -23.1% | 0.77x | 0.00x |
| Kleiner Perkins Caufield & Byers IX-A | Kleiner Perkins | private equity | 1999 | — | -23.3% | 0.40x | 0.00x |
| Heritage Fund III, L.P. | Heritage | buyout | 1999 | — | -23.5% | 0.50x | 0.48x |
| Nogales Investors Fund II, L.P. | General Atlantic | buyout | 2006 | — | -24.1% | 0.10x | 0.10x |
| SIF-Ascension LP | SVB | fund of funds | 2021 | — | -24.2% | 0.77x | 0.00x |
| H.I.G. Middle Market LBO Fund IVO | — | buyout | 2022 | — | -24.4% | 0.80x | 0.02x |
| Novalpina Capital Fund I | Novalpina Capital | buyout | 2017 | — | -24.5% | 0.56x | 0.16x |
| Parthenon Investors VII | Parthenon | buyout | 2023 | — | -24.7% | 0.84x | 0.00x |
| Triumph Capital II | Triumph | buyout | 2001 | — | -25.1% | 0.40x | 0.40x |
| EPIC Ventures Fund VII, L.P. | EPIC VENTURES | venture capital | 2025 | — | -25.2% | 0.88x | — |
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).