/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
Lincolnshire Equity Fund IILincolnshireprivate equity1999—24.6%1.97x1.97x
Lincolnshire Equity Fund II, L.P.Lincolnshirebuyout1999—24.6%1.97x1.97x
Endeavour Capital Fund VII, L.P. - Secondary PurchaseEndeavour Capitalfund of funds2020—24.6%1.80x1.00x
Silver Lake Partners, L.P.Silver Lake Partnersbuyout1999—24.6%2.20x2.20x
Advent International Global Private Equity VIII-DAdvent Internationalbuyout2001—24.5%2.18x0.77x
GOF III Feeder B, L.P.GOFbuyout2023—24.5%1.19x0.00x
SilverStone IV, LLC Series C (Small Secondaries)SilverStonebuyout2020—24.5%2.20x0.75x
ICG Strategic Equity Fund III LPIntermediate Capital Groupsecondaries2018—24.5%2.12x1.11x
One Rock Capital Partners III, LPOne Rock Capital Partnersbuyout2021—24.5%1.97x1.10x
GCM Grosvenor - NC Innovation Fund 2013-1GCM Grosvenorfund of funds2013—24.4%2.49x2.37x
TPG Partners III, L.P.TPGbuyout2000—24.4%2.44x2.44x
Bain Capital Asia Fund IV-B, L.P.Bain Capitalbuyout2019—24.4%1.74x1.06x
Vector Co-InvestmentVectorco investment2015—24.4%2.97x2.97x
Wynnchurch Capital Partners IVWynnchurchbuyout2015—24.4%2.88x1.79x
Wynnchurch IVWynnchurchbuyout2014—24.4%2.85x1.78x
Apollo ln\0! 5ttnenl Fund VIIApolloprivate equity2007—24.4%2.06x1.70x
Charlesbank Equity Fund VII LPCharlesbank Capital Partnersbuyout2009—24.4%2.46x2.46x
Tritium I, LPTritium Partnersbuyout2014—24.3%2.21x1.46x
Orchid Asia V, L.P.Orchid Asiabuyout2010—24.3%1.76x1.56x
Industrial Opportunity Partners, L.P.Industrial Opportunity Partnersbuyout2006—24.3%2.99x2.99x
Raine Partners IIRainebuyout2014—24.2%2.95x2.29x
GGV VNotable Capitalventure capital2014—24.2%5.00x2.83x
Project Bruins—buyout2016—24.2%4.83x4.83x
Searchlight Capital IV, L.P.Searchlight Capital Partnersbuyout2024—24.2%1.13x0.00x
Craft Ventures Growth II, L.P.Craft Venturesventure capital2022—24.1%1.33x0.00x
Grove Street Partners Ventures II, L.P.GroveStreetbuyout2002—24.1%4.25x2.47x
TrueBridge-Kauffman Fellows Endowment Fund IV (Parallel) LPTrueBridge Capital Partnersbuyout2016—24.1%3.76x1.21x
Spark Capital IIISparkventure capital2011—24.1%1.44x0.88x
SG/NMERB Secondary Fund II, L.P.Sg Ivsecondaries2016—24.0%1.41x1.41x
BC European Capital VI, L.P.BC Partnersbuyout1998—24.0%2.70x2.73x
Thoma Cressey Fund VII, L.P.Thoma Cressey Equity Partnersbuyout2001—24.0%2.13x2.13x
The Rise Fund III, L.P.The Rise Fundgrowth equity2023—24.0%1.30x0.04x
CVE-Kauffman Fellows Endowment Fund II, L.P.CVEbuyout2002—24.0%5.72x2.83x
BC Partners VII, L.P.BC Partnersco investment2000—23.9%2.55x2.54x
Arcline Capital Partners LP IIArcline Investment Managementbuyout——23.9%1.82x0.39x
Accel-KKR Capital Partners III, L.P.Accel-KKRbuyout2008—23.9%3.13x3.13x
Peppertree Capital Fund XPeppertree Capital Managementbuyout2024—23.9%——
Oak HC-FT Partners IIOak HC/FTbuyout2017—23.9%3.31x2.19x
Sycamore ISycamore Venturesbuyout2011—23.9%2.02x1.59x
H.I.G. Capital Partners V PEH.I.G. Capitalgrowth equity2013—23.9%1.90x0.63x
Ridgemont Equity Partners Fund I, L.P.Ridgemont Equitybuyout2011—23.9%2.18x2.18x
Welsh, Carson, Anderson & Stowe XIIWelsh, Carson, Anderson & Stowebuyout2015—23.9%2.47x1.99x
Blue Owl GP Stakes IIIBlue Owl Capitalgrowth equity2015—23.9%1.98x1.19x
Project Denali—buyout2013—23.9%2.90x2.90x
Providence Equity Partners IVProvidencebuyout2000—23.9%1.91x1.91x
Apax XI USD L.P.Apaxbuyout2024—23.8%1.16x—
Silver Lake Partners VII, L.P.Silver Lake Partnersbuyout2024—23.8%1.30x0.03x
Lexington Capital Partners IX Lexington IX Co-InvestLexington Partnersbuyout2019—23.8%——
Bain Capital Asia Fund III-A, L.P.Bain Capitalbuyout2016—23.8%2.20x1.39x
Alta IVAltaris Capital Partnersbuyout1988—23.8%3.11x3.11x
Astorg II, L.P.Astorgbuyout1999—23.8%3.10x3.06x
BC European Capital VII, L.P.BC Partnersbuyout2000—23.7%2.50x2.53x
TCV XTCVventure capital2019—23.7%2.90x0.58x
FS Equity Partners VIForstmann Littlebuyout2009—23.7%3.41x3.40x
JLL Partners Fund VI, L.P.JLL Partnersprivate equity2008—23.7%1.92x1.92x
Project Milano—buyout2020—23.7%2.90x0.00x
Technology Crossover Ventures XTechnology Crossover Venturesventure capital2018—23.7%2.76x0.61x
Waterland Private Equity Fund VI LPWaterlandbuyout2015—23.7%2.40x1.84x
ASP Co-Invest II 2009Adams Street Partnersco investment2009—23.7%2.45x2.04x
Hg Mercury 3 A L.P.Hg Capitalbuyout2021—23.7%1.66x0.52x
Summit Partners Growth Eqty Fd IX-A,L.P.Summit Partnersgrowth equity2017—23.6%2.16x1.34x
Altaris IIIAltaris Capital Partnersbuyout2014—23.6%2.41x1.71x
Ind Vent - Secondary VIIIIND VENTsecondaries——23.6%——
Oberland Capital Healthcare Solutions Co-Invest LPOberland Capitalco investment——23.5%1.35x0.56x
Permira Europe IIPermirabuyout2000—23.5%1.99x1.99x
KKR Element Co-InvestKohlberg Kravis Robertsco investment2016—23.5%—2.39x
Audax Private Equity Fund VIAudax Groupbuyout2019—23.5%1.70x0.64x
Lake Jackson, L.P.Lake Jackson LPbuyout2004—23.5%1.29x1.05x
Carousel Capital Partners III, L.P.Carouselbuyout2006—23.5%2.33x2.33x
Pantheon Europe VPantheon Venturessecondaries2000—23.5%——
ASP Venture InnovationAsper Renewable Powerventure capital2016—23.4%2.90x0.69x
Lightyear Fund III, L.P.Lightyearbuyout2011—23.4%2.24x2.22x
Blackstone Strategic Partners Real Estate VIIIThe Blackstone Groupsecondaries2023—23.4%1.20x0.04x
Thoma Bravo Explore FundThoma Bravogrowth equity2020—23.4%1.75x0.27x
(Lexington) Co-Investment Partners LP (Pools III & IV)Lexington Partnersco investment2002—23.4%2.18x2.18x
Lexington Co-Investment Partners II (Pools III & IV), L.P.Lexington Partnersco investment2001—23.4%2.18x2.17x
H.I.G. Middle Market LBO Fund IIH.I.G. Capitalbuyout2014—23.4%1.71x1.53x
Ironsides Partnership Fund IV, L.P.Ironsides Cobuyout2017—23.4%1.82x1.09x
The Column Group, L.P.The Column Groupprivate equity2005—23.4%2.10x0.79x
J.H. Whitney VJ.H. Whitneybuyout2000—23.3%1.94x1.94x
FTV IVFTV Capitalbuyout2013—23.3%3.40x3.14x
Landmark Equity Partners XILandmark Partnerssecondaries2002—23.3%1.54x1.54x
Silicon Valley Bank Capital Partners III, L.P.Silicon Valley Bankbuyout2012—23.3%2.92x1.25x
TA/Advent VIII, L.P.Adventbuyout1997—23.3%2.30x2.28x
Shamrock CCF II Co-Invest I-A, L.P.Shamrock Capitalco investment2021—23.2%2.11x2.03x
SoftTech VC PlusUncork Capitalventure capital2016—23.2%2.36x1.56x
Madison Dearborn Capital Partners VI, L.P.Madison Dearborn Partnersbuyout2008—23.2%2.20x2.16x
Vestar Capital Partners VI, L.P.Vestar Capital Partnersbuyout2012—23.2%2.00x1.77x
FTV VFTV Capitalbuyout2016—23.2%2.63x1.46x
Summit Growth Equity IXSummit Partnersgrowth equity2015—23.1%1.93x1.34x
Summit PartnersSummit Partnersgrowth equity2017—23.1%1.97x1.61x
StepStone Capital Partners V, L.P.Stepstone Groupbuyout2022—23.1%1.43x0.04x
FS Equity Partners VI LPFreeman Spoglibuyout2009—23.1%3.08x3.08x
Insight Venture Partners IXInsight Partnersventure capital2015—23.0%4.00x2.61x
Thoma Bravo Fund XIIIrThoma Bravobuyout2018—23.0%1.90x0.95x
4D Global Energy Investments Fund, PLC4D Global Energy Advisorsbuyout2008—23.0%1.71x0.28x
OceanSound Partners FundOceanSound Partnersbuyout2019—23.0%1.98x0.55x
Waterland Private Equity VI, L.P.Waterlandbuyout2004—23.0%2.26x1.84x
DRA Growth & Income Fund III, LLCDRA Advisorsgrowth equity2000—23.0%2.78x2.78x
Adams Street Co-Investment Fund VAdams Street Partnersco investment2022—23.0%1.45x0.00x

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).