Fundraising Fox

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
AllPrivate equityPrivate creditReal assetsOpportunistic
FundManagerStrategyVintageCommittedNet IRRTVPIDPI
Vista Equity Partners IVVista Equity Partnersbuyout2020—30.8%——
Searchlight Capital Partners IV, L.P.Searchlight Capital Partnersbuyout2024—30.8%1.20x0.00x
Secondary Investment SPV-1 L.P.Secondarysecondaries2012—30.7%—1.72x
Spectrum Equity VIII L.P.Spectrum Equityventure capital2018—30.6%2.48x1.52x
New Enterprises Associates VIII, L.P.New Enterprise Associates (NEA)venture capital1998—30.6%1.66x1.64x
Golder, Thoma, Cressey & Rauner FundGolder, Thoma, Cressey, Raunerbuyout1980—30.5%11.87x11.87x
Silver Lake III SL SPV-2, L.P.Silver Lake Partnersbuyout2019—30.5%2.30x1.68x
Clayton, Dubilier & Rice Fund X, L.P.Clayton Dubilier & Ricebuyout2018—30.4%2.27x1.51x
GTCR Fund XI, L.P.GTCRbuyout2014—30.3%3.00x2.46x
Mill Point Capital Partners IIMill Point Capitalbuyout2021—30.3%1.52x0.58x
Ares Corporate Opportunities Fund VI Co-InvestAresbuyout2021—30.2%1.83x1.83x
Lone Star Fund IV (U.S.), L.P.Lone Star Japan Acquisitionsbuyout2001—30.2%2.30x2.30x
GTCR XIGTCRgrowth equity2013—30.2%3.04x2.84x
Flexpoint Ford Fund II, L.P.Flexpoint Fordbuyout2008—30.2%1.68x1.29x
Aquiline Financial Services Fund IIIAquiline Oregon Co‐buyout2015—30.1%2.31x2.13x
Warburg Pincus International Partners, L.P. - WSIB SecondaryWarburg Pincussecondaries2005—29.9%2.60x2.64x
Accel-KKR Capital Partners V Strategic Fund, L.P.Accel-KKRbuyout2017—29.9%2.88x1.45x
Mesirow Fd VII B PEMesirowbuyout2017—29.8%3.18x1.40x
Accel-KKR Capital Partners V LPAccel-KKRbuyout2017—29.8%2.68x1.27x
Ocean Avenue Fund VOcean Avenue Capital Partnersbuyout2023—29.7%1.33x0.00x
AE Industrial Partners Fund III, L.P.AE Industrial Partnersbuyout2023—29.6%1.49x0.09x
Endeavour Capital Fund IIIEndeavour Capitalfund of funds2000—29.6%2.74x2.74x
Spectrum Equity VIII-A, L.P.Spectrum Equityventure capital2018—29.6%2.30x1.45x
Ampersand CF, L.P.Ampersandbuyout2020—29.5%1.78x1.06x
ASP Venture Innovation 2016-2018—venture capital2016—29.4%2.85x0.52x
Blackstone Capital Partners IXThe Blackstone Groupbuyout2022—29.4%1.27x0.00x
Vista Equity Partners Fund IIIAvistabuyout2007—29.4%2.44x2.44x
Secondary Investment SPV-2 L.P.Secondarysecondaries2012—29.4%—1.85x
OrbiMed Private Investments IX, LPOrbiMedventure capital2022—29.3%1.16x0.21x
Bridgepoint Europe II 'A' LPBridgepointco investment2001—29.3%1.79x1.79x
Spark Capital Growth FundSparkgrowth equity2014—29.3%1.44x1.11x
Industry Ventures Fund V, L.P.Industry Venturesventure capital2008—29.3%—2.88x
SkyKnight Capital Fund IV, L.P.SkyKnight Capitalbuyout——29.3%1.31x0.03x
Blackstone Capital Partners Asia II, L.P.The Blackstone Groupbuyout2022—29.2%1.51x0.22x
KKR 1984 Fund, L.P.Kohlberg Kravis Robertsbuyout1984—29.2%4.40x4.42x
Reverence Cap PTR Op Fd V (PE Fd III)Reverence Capital Partnersco investment2023—29.2%1.37x0.03x
Menlo Ventures XI, L.P.Menloventure capital2011—29.1%4.30x3.63x
Summit Park I-ASummit Parkprivate equity2012—29.1%5.03x5.03x
Spectrum Equity Investors VIII, L.P.Spectrum Equitygrowth equity2018—29.1%2.34x1.77x
Project Robin—growth equity2015—29.0%1.68x0.95x
Silicon Valley Bank SIF V, L.P.Silicon Valley Bankbuyout2002—29.0%6.15x3.19x
HarbourVest -Dover Street XIHarbourVest Partners (Canada)fund of funds2023—28.9%1.33x0.13x
Summit Park II, L.P.Summit Parkprivate equity2014—28.9%2.45x2.36x
Platinum Equity Capital Partners IIIPlatinumbuyout2012—28.9%2.11x2.02x
One Rock Capital Partners IIIOne Rock Capital Partnersbuyout2021—28.8%1.96x0.91x
LCP FSBA Co-Invest AccountLCP FSBA Co-Invest Accountco investment2001—28.7%1.85x0.50x
Project Life—buyout2014—28.7%1.77x1.77x
Lindsay Goldberg IV, L.P.Lindsay Goldbergbuyout2015—28.6%1.99x1.53x
Ka - Renewable Opp PrtKayne Anderson Capital Advisorsfund of funds——28.6%——
SL SPV-2, L.P.SL SPVbuyout2019—28.4%3.53x2.45x
Accel-KKR Growth Capital Partners II LPAccel-KKRgrowth equity2015—28.4%2.34x1.87x
Water Street Healthcare Partners II, L.P.Water Street Healthcare Partnersbuyout2008—28.3%2.29x1.88x
CapVestEquity Partners VCapVestEquityprivate equity2023—28.3%1.42x0.00x
StepStone Tactical Growth Fund II, L.P.Stepstone Groupgrowth equity2017—28.2%2.88x1.54x
Endeavour Capital Fund IV, L.P.Endeavour Capitalfund of funds2004—28.2%3.52x3.52x
BVIP IXBV Investment Partnersbuyout2017—28.2%2.53x1.55x
Rubicon Technology Partners II LPRubicon Technology Partnersbuyout2017—28.2%2.14x1.90x
Platinum Equity Capital Partners V Co-investmentPlatinumbuyout2020—28.1%2.29x0.00x
Dunes Point Capital Fund II, L.P.Dunes Point Capitalbuyout——28.0%1.99x1.13x
Francisco Partners Agility IIFrancisco Partnersbuyout2020—28.0%2.18x0.92x
P4G IP4Gbuyout2019—28.0%2.04x0.27x
AIMPERA Fund III LPAimpera Capital Partnersbuyout——28.0%1.37x0.20x
Brighton Park Cap IIBrighton Park Capitalbuyout2022—27.9%——
Hellman & Friedman Capital Partners V LPHellman & Friedmanbuyout2004—27.9%2.70x2.66x
Vertical Venture PartnersVerticalventure capital2015—27.9%2.71x2.29x
FSBA AAM Strategic Fund II, LPAdvanced Asset Managementbuyout2023—27.9%1.21x0.00x
Project Heat—buyout2012—27.9%3.38x3.38x
T V I Fund IV—co investment1986—27.9%3.67x3.67x
Joy Capital IJoy Capitalprivate equity2015—27.9%2.33x1.71x
Brookfield Capital IVBrookfield Asset Managementbuyout2015—27.8%——
Lexington Partners Investment Holdings, L.P.Lexington Partnersfund of funds2012—27.8%8.70x0.05x
RCP Fund Direct Feeder II, L.P.RCPbuyout2015—27.8%2.40x1.90x
Silver Oak Services Partners II, L.P.Silver Oak Services Partnersprivate equity2012—27.7%3.10x2.71x
OceanSound Partners Fund IIOceanSound Partnersbuyout2022—27.7%1.35x0.02x
Banner Ridge Secondary Fund IV (T), L.P.Banner Ridge Partnerssecondaries2021—27.7%1.74x0.75x
Excellere Capital Fund II, L.P.Excellere Partnersbuyout2011—27.7%1.92x1.66x
Peak Rock Capital Fund III LPPeakbuyout2021—27.6%1.52x0.42x
Summit Growth Equity VIII PESummit Partnersgrowth equity2011—27.5%2.29x1.75x
Institutional Venture Partners VIVP (Institutional Venture Partners)venture capital1991—27.5%3.00x3.00x
Project Camp—growth equity2020—27.5%1.78x1.06x
One Rock Capital Partners Fund III, LPOne Rock Capital Partnersbuyout2020—27.4%1.92x0.91x
TSG6, L.P.TSG6buyout——27.4%2.17x2.16x
Inflexion Supplemental Fund IV PEInflexionbuyout2016—27.4%1.92x0.72x
Clearlake Capital Partners IV, L.P.Clearlake Capital Groupbuyout2015—27.3%1.88x1.57x
Silicon Valley Bank SIF VI-ASilicon Valley Bankbuyout2002—27.3%4.34x1.00x
Ardian Secondary Fund IX, L.P.Ardiansecondaries2023—27.3%1.21x0.08x
Sequoia Capital US Venture XVIISequoia Capitalventure capital2020—27.2%2.13x0.00x
Silver Lake Technology Investors IV, LPSilver Lake Partnersgrowth equity2013—27.2%3.35x2.18x
H.I.G. Brazil & Latin America Partners PEH.I.G. Capitalgrowth equity2015—27.2%1.80x0.10x
Lincolnshire Equity Fund IIILincolnshireprivate equity2004—27.2%1.76x1.76x
Lincolnshire Equity Fund III, L.P.Lincolnshirebuyout2004—27.2%1.76x1.76x
SG Growth Partners IV—growth equity2017—27.2%2.52x1.13x
Banner Ridge DSCO Fund I, L.P.Banner Ridge Partnerssecondaries2020—27.2%1.61x0.48x
ComVest Investment Partners IVComvest Creditbuyout2010—27.1%1.70x1.70x
Wigmore Street Co-Investment No. 2Wigmore Street (BDCco investment2015—27.1%2.30x0.82x
Castle Harlan Partners IICastlebuyout1992—27.1%1.67x1.67x
Olympic Venture Partners IIIOVP Venture Partnersventure capital1994—27.1%2.22x2.23x
Banner Ridge Secondary Fund III (TE), L.P.Banner Ridge Partnerssecondaries2019—27.0%1.73x1.17x
RCP Collins Co-Invest LPRCPco investment——27.0%1.27x—
LLR Equity Partners IVLLRbuyout2013—27.0%2.82x2.48x

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).