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
Project Kelvin—buyout2024—16.7%1.28x0.00x
Project Maroon—buyout2023—16.7%1.40x0.00x
FFL Capital Partners IV, L.P.FFL Partnersbuyout2015—16.7%1.70x1.69x
Drive Capital Fund IIDrive Capitalventure capital2016—16.7%2.65x0.34x
LBA NC Core Industrial, L.P. (Legacy)Lba Realtyreal estate equity2016—16.7%1.97x1.97x
Riverwood Capital Partners IVRiverwood Capitalbuyout2023—16.7%1.12x—
Edison Venture Fund VIII, L.P.Edison Partnersventure capital2015—16.7%2.08x1.63x
Ironwood Mezzanine Partners IV, L.P.Ironwood Capitalmezzanine2017—16.7%1.40x1.00x
Drive Capital Overdrive Fund IDrive Capitalventure capital2019—16.6%2.22x0.00x
Carlyle Europe PartnersCarlyle Groupbuyout1998—16.6%2.00x2.04x
IPI Partners IIIpibuyout2020—16.6%1.28x0.01x
CVC European Equity Partners IVCVCbuyout2005—16.6%1.86x1.86x
Crescent Cove Opportunities Fund, L.P.CRESCENT COVE CAPITALmulti strategy2022—16.6%1.51x0.10x
CVC Europe Equity Partners IV, L.P.CVCbuyout2005—16.6%1.96x1.96x
AmpersandAmpersandbuyout2006—16.6%3.12x3.12x
Pantheon Private Debt PCO I| USD Feeder (Delaware), L.P.Pantheon Venturesprivate credit2022—16.6%1.42x0.30x
PAG Asia I LPPAGbuyout2012—16.6%2.01x1.93x
TA Subordinated Debt Fund III, L.P.TA Subordinated Debtmezzanine2010—16.6%2.00x1.98x
Mayfield Select IIrMayfield Fundventure capital2021—16.6%1.40x—
Advent International GPE VI-D LPAdvent Internationalbuyout2008—16.6%2.09x2.09x
GPE IX TKE Co-InvestmentGpeco investment2020—16.6%2.22x—
RCP Advisors Fund VI, L.P.RCPbuyout2001—16.6%2.17x1.88x
Rhône Partners VRhônebuyout2015—16.6%2.07x1.02x
Equistone Partners Europe Fund VI LPEquistone Partners Europebuyout2018—16.6%1.59x1.06x
IC Berkeley Partners IIIIC Berkeley Partnersreal estate equity2013—16.6%1.30x0.45x
Pathway Private Equity Fund Investors 8Pathway Capital Managementfund of funds2016—16.6%2.13x0.01x
Stockbridge Value Fund II, LPStockbridge Capital Groupreal estate equity——16.6%1.68x1.67x
Wayzata Opportunities Fund II, L.P.Wayzata Investment Partnersmulti strategy2007—16.6%1.91x1.91x
Five Point Energy GP II, L.P.Five Point Energynatural resources2018—16.6%2.02x0.43x
OCM Opportunities Fund VII-B, L.P.Oaktreespecial situations2008—16.5%1.70x1.73x
Blackstone Infrastructure Partners L.P.The Blackstone Groupinfrastructure2018—16.5%1.82x0.37x
Updata Co-InvestmentUpdata Partnersco investment2014—16.5%2.83x2.83x
TPG Golden Bear Partners, L.P.TPGbuyout2019—16.5%1.75x0.19x
TPG Opportunities Partners II, L.P.TPGmulti strategy2012—16.5%1.70x1.60x
Advent International GPE XAdvent Internationalbuyout2022—16.5%1.34x0.02x
Abbott Capital Private Equity Investors 2013Abbottbuyout2013—16.5%2.30x1.59x
Blue Point Capital Partners III (B), L.P.Blue Pointbuyout2013—16.5%1.80x1.38x
OCM Opportunities Fund VIIbOaktreespecial situations2008—16.5%1.73x1.73x
Atalaya Special Opportunities Fund VIII LPAtalaya Capitalspecial situations2021—16.5%1.21x0.13x
Blue Torch Credit Opportunities Fund IIIBlue Torch Capitalmulti strategy2022—16.5%1.27x0.39x
GCM Diversified Infrastructure, L.P.GCM Grosvenorinfrastructure2024—16.5%1.17x—
Wayzata Opportunities Fund II, L.P.2Wayzata Investment Partnersmulti strategy2007—16.5%——
Kohlberg Investors VI LPKohlberg Investorsbuyout2007—16.4%1.75x1.75x
TCG Crossover FundTCG Crossoverbuyout2021—16.4%1.42x0.71x
Equistone Partners Europe Fund VI "E" SCSpEquistone Partners Europebuyout2018—16.4%1.58x1.06x
Kohlberg Investors VIII, L.P.Kohlberg Investorsbuyout2017—16.4%1.85x0.81x
Sixth Street Opportunities Partners II, L.P.Sixth Streetbuyout2012—16.4%1.70x1.73x
Providence Strategic Growth V L.P.Providencegrowth equity2021—16.4%——
Tenaya Capital Fund VII, L.P.Tenaya Capitalbuyout2015—16.4%2.59x0.45x
KKR Millennium Fund, L.P.Kohlberg Kravis Robertsbuyout2002—16.4%1.84x1.84x
Thomas, McNerney & Partners IIThomas, McNerney & Partnersbuyout2006—16.4%2.22x2.22x
Thomas, McNerney & Partners II, L.P.Thomas, McNerney & Partnersbuyout2006—16.4%2.22x2.22x
Barings Emerging Generation FundBaringsbuyout2020—16.4%1.52x0.18x
Lexington CIP V-F-O LPLexington Partnersbuyout2020—16.4%1.48x0.22x
Bain Capital Asia Fund II, LPBain Capitalbuyout2012—16.4%1.80x1.67x
HarbourVest Partners Co-Investment Fund VIHarbourVest Partners (Canada)co investment2021—16.4%1.38x0.02x
CVC European Equity Partners VCVCbuyout2008—16.4%1.98x1.95x
CVC European Equity Partners V (B) L.P.CVCbuyout2008—16.4%1.83x1.82x
Bridgepoint Europe VI, L.P.Bridgepointbuyout2018—16.4%1.87x0.82x
Abbott Capital Private Equity Investors 2014Abbottbuyout2014—16.4%2.30x1.49x
Levine Leichtman Capital Partners VI, L.P.Levine Leichtmanbuyout2011—16.4%1.66x0.69x
Mesirow Partnerships VMesirowtactical2006—16.4%2.43x2.08x
NYCFPF - 2012 Emerging Manager Program4NYCFPF - 2012 Emerging Manager Program4buyout2012—16.4%2.09x1.65x
NYCFPF - 2019 Emerging Manager Program6NYCFPF - 2019 Emerging Manager Program6buyout2019—16.4%1.47x0.18x
Portfolio Advisors Secondary Fund III, L.P.Portfolio Advisorssecondaries2015—16.4%1.72x1.00x
Aurora Resurgence FundAurora Capital Partnersventure capital2007—16.4%1.37x1.37x
Berk.<hire Fund VII L.P.—private equity2006—16.4%—1.23x
Caduceus Private Investments III, LPCaduceus Capital Partnersprivate equity2006—16.4%1.70x0.84x
Merit Mezzanine Fund VIMerit Capital Partnersmezzanine2016—16.4%1.82x1.33x
NYCFPF 2012 Emerging Manager Program—fund of funds2012—16.4%2.09x1.65x
Southvest Fund VII, L.P.Southvestbuyout2016—16.4%1.90x0.88x
Bain Capital Insurance Fund, L.P.Bain Capitaltactical2023—16.4%1.23x0.08x
Gores Small Capitalization Partners, L.P.Goresbuyout2012—16.4%1.69x1.69x
Butterfly Fund II, LPButterflybuyout——16.3%1.73x0.71x
German Equity Partners V (ECM GEP V)German Equitybuyout2018—16.3%1.62x0.80x
KKR Asian Fund IVKohlberg Kravis Robertsbuyout2020—16.3%1.44x0.30x
Blackstone Tactical Opportunities Fund - FD L.P.The Blackstone Grouptactical2010—16.3%1.44x0.54x
StepStone Capital Partners III, L.P.Stepstone Groupbuyout2014—16.3%1.89x1.54x
TrueBridge-Kauffman Fellows Endowment Fund III (Parallel) LPTrueBridge Capital Partnersbuyout2013—16.3%3.31x1.75x
Advent International GPE VI AAdvent Internationalbuyout2008—16.3%2.09x2.01x
Hg Genesis 9Hgbuyout2020—16.3%1.55x0.41x
Lone Star Fund VIII (U.S.), L.P.Lone Star Japan Acquisitionsbuyout2013—16.3%1.20x1.24x
AXA Secondary Fund V-B LPArdiansecondaries2010—16.3%1.60x1.60x
BE VI 'H' L.P.Berkshiretactical2019—16.3%1.73x0.34x
Gasherbrum Fund II, L.P.Gasherbrumbuyout2024—16.3%1.21x0.34x
Kinderhook Capital Fund 7Kinderhookbuyout2022—16.3%1.36x0.07x
ArcLight Energy Partners Fund II, L.P.1Arclight Energynatural resources2004—16.3%1.41x1.41x
Project Unit—distressed debt2020—16.3%1.61x1.61x
Tenaya Capital Fund VTenaya Capitalbuyout2007—16.3%2.09x2.01x
North Carolina Economic Opportunities FundNorthmulti strategy2001—16.3%1.69x1.69x
Adams Street Co-Investment Fund IV AAdams Street Partnersco investment2018—16.3%1.83x0.73x
Alta Partners VIIIAlta Partnersbuyout2006—16.3%2.47x2.47x
SV7 Impact Medicine Fund, L.P.SV7 Impact Medicineventure capital2019—16.2%1.50x0.62x
Kayne SBCERA (D.I.)Kayne Anderson Capital Advisorsinfrastructure2018—16.2%—1.20x
Ares Corporate Opportunities VI, L.P.Aresbuyout2020—16.2%1.39x0.36x
Threshold Ventures IIThreshold Venturesventure capital2016—16.2%2.70x0.31x
Olympus Growth Fund VIOlympus Partnersgrowth equity2014—16.2%2.00x2.00x
Lexington Co-Investment Partners V-F LPLexington Partnersco investment2021—16.2%1.46x0.17x
Carlyle Europe Technology Partners II, L.P.Carlyle Groupbuyout2008—16.2%1.86x1.84x
HarbourVest Ptrs VII PEHarbourVest Partners (Canada)fund of funds2014—16.2%2.19x1.26x

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).