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
Trident VII, L.P.	Trident	buyout	2017	—	18.7%	2.30x	0.96x
NCL Investments III LP - PE Series	NCL Investments	multi strategy	2021	—	18.7%	1.21x	—
CarVal Credit Value Fund I	CarVal Investors	direct lending	2010	—	18.7%	2.25x	2.25x
KKR Americas XII	Kohlberg Kravis Roberts	buyout	2016	—	18.7%	2.18x	1.03x
Thoma Bravo, LLC	Thoma Bravo	buyout	2022	—	18.7%	1.38x	0.04x
Level Equity Opportunities Fund 2021	Level Equity	multi strategy	2021	—	18.7%	1.31x	0.00x
ICG Europe Mid-Market Fund	Intermediate Capital Group	buyout	2020	—	18.7%	1.50x	0.72x
Bridgepoint Europe VII L.P.	Bridgepoint	buyout	2023	—	18.7%	1.20x	0.03x
Arsenal Capital Partners Fund, L.P.	Arsenal	growth equity	2001	—	18.7%	1.85x	1.81x
DCM V	DCM	venture capital	2007	—	18.7%	2.70x	2.70x
Saw Mill Capital Partners II, L.P.	HILL PATH	buyout	2016	—	18.7%	1.92x	1.06x
Montagu LP	Montagu	buyout	2015	—	18.7%	1.63x	0.77x
NYCPPF - 2012 Emerging Manager Program4	NYCPPF - 2012 Emerging Manager Program4	tactical	2012	—	18.7%	1.97x	0.71x
RCP Advisors Fund VII, L.P.	RCP	buyout	2002	—	18.7%	2.26x	1.64x
Delos Investment Fund, L.P.	Delos Investment	buyout	2014	—	18.7%	1.81x	1.78x
Dover Street IX, L.P.	HarbourVest Partners (Canada)	buyout	2016	—	18.7%	1.69x	1.18x
Evergreen Park Investment Fund, L.P.	Evergreen Venture Partners	fund of funds	2021	—	18.6%	1.50x	0.05x
NCL Investments II, L.P. - Outside Opportunities Series A	NCL Investments	multi strategy	2018	—	18.6%	2.27x	0.55x
HarbourVest 2017 Global	HarbourVest Partners (Canada)	venture capital	2017	—	18.6%	2.07x	0.70x
Mesirow Financial Private Equity Fund VI	Mesirow	tactical	2013	—	18.6%	2.60x	1.74x
Trident VII LP	Stone Point	buyout	2017	—	18.6%	2.24x	0.96x
Wigmore Street VI Co-Investment No. 2	Wigmore Street (BDC	co investment	2019	—	18.6%	1.28x	0.00x
DCM Fund V, L.P.	DCM	private equity	2006	—	18.6%	2.57x	1.25x
GGV III	Notable Capital	venture capital	2006	—	18.6%	2.71x	2.67x
TRITON FUND II LP	TRITON FUNDS LLC	buyout	2006	—	18.6%	2.29x	2.29x
Sprout Capital VI, L.P.	Sprout	buyout	1989	—	18.5%	2.16x	2.16x
Summit Partners Europe PE Fund	Summit Partners	growth equity	2009	—	18.5%	2.62x	2.62x
StepStone Tactical Growth Fund, L.P.	Stepstone Group	growth equity	2013	—	18.5%	2.57x	2.10x
Linden Co-Investment V LP	Linden Capital	co investment	2022	—	18.5%	1.07x	0.01x
NYCERS - 2015 Emerging Manager Program5	NYCERS - 2015 Emerging Manager Program5	tactical	2015	—	18.5%	2.14x	0.67x
Opps NPL (A), L.P.	Opps NPL (A), L.P	buyout	2011	—	18.5%	1.69x	1.69x
Silver Lake Partners III	Silver	buyout	2007	—	18.5%	1.94x	1.89x
Cressey & Company Fund V LP	Cressey & Company	buyout	2015	—	18.5%	2.46x	1.22x
TSSP Opportunities Partners IV	TSSP	multi strategy	2019	—	18.5%	1.20x	0.12x
ERA Infra Fund I LP	ERA Infra	infrastructure	—	—	18.5%	1.89x	1.17x
Khosla Ventures VIII	Khosla Ventures	venture capital	2023	—	18.4%	1.13x	0.00x
Mayfield XVI	Mayfield Fund	venture capital	2021	—	18.4%	1.52x	0.00x
Valor Equity V	Valor Equity Partners	buyout	2020	—	18.4%	—	—
Carlyle Asia Partners (PV II), L.P.	Carlyle Group	buyout	2000	—	18.4%	2.73x	2.73x
Covenant Apartment Fund VIII, L.P.	Covenant Apartment	real estate equity	2015	—	18.4%	1.60x	1.60x
Excelsior Renewable Energy Feeder Fund II-B LP	Excelsior Renewable Energy Feeder	infrastructure	—	—	18.4%	1.22x	0.01x
Perseus-Soros BioPharmaceutical Fund, LP1	Perseus	buyout	2001	—	18.4%	1.64x	1.64x
Platinum Equity Capital Partners IV, L.P.	Platinum	buyout	2016	—	18.4%	1.84x	1.30x
RTP J Holdings LP	RTP J Holdings LP	buyout	2023	—	18.4%	1.32x	0.00x
Hollyport Secondary Opportunities VII LP	Hollyport Capital	multi strategy	2020	—	18.4%	1.80x	0.60x
Orbimed Private lnvesunents Ill, LP	OrbiMed	private equity	2006	—	18.4%	2.32x	—
Cortec Group Fund VII, L.P.	Cortec Group	buyout	2019	—	18.4%	1.68x	0.60x
Updata Partners V, L.P.	Updata Partners	buyout	2014	—	18.4%	2.16x	1.34x
DB Real Estate Global Opps I-A/I-B, L.P.	Deutsche Bank	real estate equity	2003	—	18.4%	1.32x	1.32x
Endeavour Capital Fund VII, L.P.	Endeavour Capital	fund of funds	2016	—	18.3%	2.30x	1.46x
GCM Grosvenor - NC Innovation Fund II	GCM Grosvenor	fund of funds	2015	—	18.3%	1.82x	1.06x
Pantheon Europe II	Pantheon Ventures	secondaries	2000	—	18.3%	1.84x	1.84x
Sequoia Capital Global Growth Fund III	Sequoia Capital	growth equity	2018	—	18.3%	2.11x	0.54x
Vista Foundation Fund III	Vista Equity Partners	buyout	2016	—	18.3%	1.88x	1.11x
Bain Capital Europe Fund III	Bain Capital	buyout	2008	—	18.3%	2.02x	1.93x
Golder, Thoma, Cressey & Rauner Fund II	Golder, Thoma, Cressey, Rauner	buyout	1984	—	18.3%	3.68x	3.68x
OCM Principal Opportunities Fund II	Oaktree	multi strategy	2001	—	18.3%	1.61x	1.61x
Trident IX LP	Stone Point	buyout	2022	—	18.3%	1.30x	0.12x
WHEELOCK STREET REAL ESTATE FUND II LP	Wheelock Street	real estate equity	2014	—	18.3%	1.65x	1.86x
BDCM Opportunity Fund II	Black Diamond Capital Management	multi strategy	2005	—	18.3%	2.80x	2.74x
Darwin Venture Capital Fund of Funds II LP	Darwin Venture Capital	venture capital	2006	—	18.3%	3.58x	2.16x
Oak Street Real Estate Capital Fund VI, LP	Oak Street Real Estate Capital	real estate equity	—	—	18.3%	1.45x	0.64x
Thoma Cressey Fund VIII LP	Thoma Cressey Equity Partners	buyout	2006	—	18.3%	2.93x	2.93x
XV Thoma Bravo XV Co-Invest	—	co investment	2022	—	18.3%	—	0.00x
Charterhouse Capital Partners X, L.P.	Charterhouse Capital Partners	buyout	2016	—	18.3%	1.70x	1.73x
Aurora Equity Partners IV, L.P.	Aurora Capital Partners	venture capital	2012	—	18.2%	—	2.06x
SL Capital SOF III, L.P.	abrdn plc	tactical	2017	—	18.2%	—	1.97x
Lexington Capital Partners V, L.P.	Lexington Partners	secondaries	2001	—	18.2%	1.68x	1.67x
GS Partners Ventures III LLC	GroveStreet	buyout	2013	—	18.2%	2.98x	1.97x
Horizon Impact Fund	Horizon	growth equity	2014	—	18.2%	2.30x	1.73x
Olympus V -AIG Secondary	Olympus	growth equity	2009	—	18.2%	1.96x	1.91x
CenterGate I	CenterGate	buyout	2016	—	18.2%	1.74x	1.01x
Ridgemont Equity Partners II	Ridgemont Equity	buyout	2015	—	18.2%	1.90x	1.48x
Strategic Partners V, LP	Strategic	secondaries	2011	—	18.2%	1.61x	1.61x
Welsh, Carson, Anderson & Stowe	Welsh, Carson, Anderson & Stowe	buyout	1987	—	18.2%	2.62x	2.62x
Dyal Capital Partners V	Dyal Capital Partners	secondaries	2020	—	18.2%	1.28x	0.58x
K5 Private Investors, L.P.	K5 Private	buyout	2021	—	18.2%	1.59x	0.06x
Leeds Equity Partners V, L.P.	Leeds	buyout	2007	—	18.2%	2.51x	2.41x
Flagship Pioneering Fund VIII, L.P.	Flagship Ventures	venture capital	—	—	18.1%	1.17x	0.00x
Green Equity Investors V	Green	buyout	2006	—	18.1%	2.22x	2.22x
Abbott Secondary Opportunities II, L.P.	Abbott	multi strategy	2021	—	18.1%	1.38x	0.38x
Z Capital Partners III, L.P.	—	buyout	2017	—	18.1%	1.95x	0.59x
PAI Europe VIII, L.P.	PAI Partners	buyout	2023	—	18.1%	1.20x	—
(Lexington) LCP FSBA Co-Invest Account LP	Lexington Partners	co investment	2016	—	18.1%	1.76x	0.81x
H.I.G. Whitehorse FSBA LP	H.I.G. Capital	growth equity	2023	—	18.1%	1.12x	0.00x
Greenfield VIII	Green	buyout	2017	—	18.1%	1.60x	1.18x
Bayview Opportunity Master Fund II-B, L.P.	Bayview Opportunity Master	buyout	2008	—	18.1%	1.51x	1.51x
Spark Capital Growth Fund II	Spark	growth equity	2017	—	18.1%	2.10x	1.26x
Forecastle, L.P.	Forecastle, L.P	buyout	2020	—	18.1%	1.45x	0.01x
Lime Rock Partners VII, L.P.	Lime Rock Partners	buyout	2015	—	18.1%	1.93x	1.62x
Olympu.< Growth Fund V, LP	Olympus Partners	growth equity	2007	—	18.1%	—	0.85x
Orbimed Private Investments III, LP	OrbiMed	private equity	2006	—	18.1%	2.34x	1.48x
Project Forge	—	buyout	2019	—	18.1%	2.56x	0.59x
Yellow Wood Partners	Yellow Wood Partners	growth equity	2011	—	18.1%	1.48x	1.48x
Francisco Partners V LP	Francisco Partners	buyout	2018	—	18.1%	2.30x	0.93x
HarbourVest Partners Co-Investment V	HarbourVest Partners (Canada)	secondaries	2019	—	18.1%	2.14x	0.76x
Carlyle Asia Partners, L.P.	Carlyle Group	buyout	2000	—	18.0%	2.70x	2.70x
Valor Equity Partners V, L.P.	Valor Equity Partners	growth equity	2020	—	18.0%	1.86x	0.06x
Khosla Ventures Seed B	Khosla Ventures	venture capital	2012	—	18.0%	3.55x	3.21x
KKR Asian Fund III, L.P.	Kohlberg Kravis Roberts	buyout	2018	—	18.0%	1.98x	1.02x

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).