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
EnCap X	EnCap Energy Capital	buyout	2015	—	16.2%	2.11x	1.65x
Abbott Capital Private Equity Investors 2015	Abbott	buyout	2015	—	16.2%	2.20x	1.22x
BC Partners XI Metro Co-Investment L.P.	BC Partners	co investment	2021	—	16.2%	1.38x	—
Global Infrastructure Partners Il A LP	GIP	infrastructure	2012	—	16.2%	1.96x	1.49x
Pine Brook Road Partners, LLC	Pine Brook	buyout	2007	—	16.2%	1.52x	0.44x
ABRY Senior Equity III, L.P.	ABRY Partners	mezzanine	2010	—	16.2%	1.64x	1.64x
ABRY Senior Equity Partners III, L.P.	ABRY Partners	buyout	2010	—	16.2%	1.64x	1.64x
Project Pueblo	—	growth equity	2019	—	16.2%	1.95x	0.76x
Marlin Equity V, L.P.	Marlin Equity Partners	buyout	2017	—	16.2%	1.77x	0.64x
Sequoia Global Growth Fund III - Endurance Partners, L.P.	Sequoia Capital	growth equity	2018	—	16.2%	2.00x	0.47x
New Mountain Partners VI, L.P.	New Mountain Capital	buyout	2021	—	16.2%	1.50x	0.15x
Grove Street Partners Buyout II, L.P.	GroveStreet	buyout	2010	—	16.1%	1.92x	1.26x
Thoma Bravo XV Co-Invest	Thoma Bravo	co investment	2022	—	16.1%	1.46x	0.00x
A&M Capital Partners Europe I	Alvarez & Marsal Capital	buyout	2018	—	16.1%	1.71x	0.05x
Bridgepoint Europe VI Co-Invest	Bridgepoint	buyout	2019	—	16.1%	1.94x	0.00x
Apax IX	Apax	buyout	2016	—	16.1%	1.79x	1.46x
Berkshire Fund VIII LP	Berkshire	buyout	2011	—	16.1%	2.16x	2.02x
FS Equity Partners V LP	Freeman Spogli	buyout	2003	—	16.1%	2.10x	2.10x
Gores Small Capital Partners	Gores	buyout	2011	—	16.1%	1.59x	1.59x
Constitution Fund V, LLC Series A	Constitution	buyout	2016	—	16.1%	2.20x	0.60x
Cypress Equity Group Trust	Cypress Realty	buyout	1995	—	16.1%	2.15x	2.15x
FountainVest China Growth Cap Fund II	FountainVest Partners	growth equity	2013	—	16.1%	1.60x	1.09x
Gallatin Point Capital Partners LP	Gallatin Point Capital	buyout	2018	—	16.1%	1.48x	0.56x
The Central Valley Fund II SBIC, LP	The Central Valley	buyout	2012	—	16.1%	2.45x	0.69x
Water Street Healthcare Partners IV	Water Street Healthcare Partners	buyout	2017	—	16.1%	1.84x	0.62x
Water Street IV	Water Street Healthcare Partners	buyout	2018	—	16.1%	1.84x	0.62x
Wind Point Partners X	Wind Point Partners	buyout	2022	—	16.1%	1.33x	0.11x
Novak Biddle Venture Partners V, L.P	Novak Biddle Venture Partners	venture capital	2006	—	16.1%	2.67x	2.67x
RRJ Capital Master Fund IV, L.P.	RRJ	buyout	2021	—	16.1%	1.19x	0.48x
Thoma Bravo Co-Invest Opportunities XV-1, L.P.	Thoma Bravo	co investment	2022	—	16.1%	1.46x	0.00x
Secondary Overflow Fund IV L.P.	Secondary	secondaries	2019	—	16.1%	1.40x	0.20x
Nutmeg Opportunities Fund II LLC EM	Nutmeg Opportunities	multi strategy	2017	—	16.0%	1.80x	0.70x
RCP Sun Co-Invest A LP	RCP	co investment	—	—	16.0%	1.18x	—
Fortress Lending Fund III-IV MA-CRPTF LP	Fortress Investment Group	direct lending	2022	—	16.0%	1.20x	0.20x
FTV VI, L.P.	FTV Capital	buyout	2020	—	16.0%	1.82x	0.82x
Adams Street - 2010 U.S. Fund	Adams Street Partners	growth equity	2010	—	16.0%	2.60x	2.04x
Versant Venture VI, L.P.	Versant Ventures	venture capital	2017	—	16.0%	1.81x	1.16x
Vista Equity Partners Fund V	Vista Equity Partners	buyout	2014	—	16.0%	2.10x	1.57x
Bridgepoint Europe V	Bridgepoint	buyout	2014	—	16.0%	1.90x	1.41x
Arsenal Capital Partners IV	Arsenal	buyout	2016	—	16.0%	1.68x	1.27x
FP Intnl XI	FP Intnl	tactical	2022	—	16.0%	1.21x	0.02x
NTE 3a-3b	NTE 3a-3b	infrastructure	2013	—	16.0%	1.20x	1.18x
WCAS XIII, L.P.	WCAS	buyout	2019	—	16.0%	1.66x	0.60x
Canaan Equity Partners VII	Canaan Partners	private equity	2005	—	16.0%	2.44x	1.50x
KPS Special Situations Mid-Cap Fund	KPS Capital Partners	special situations	2019	—	16.0%	1.49x	0.36x
Olympus Growth Fund V, LP	Olympus Partners	growth equity	2007	—	16.0%	1.86x	1.81x
Pathway Private Equity Fund Investors 9	Pathway Capital Management	fund of funds	2017	—	16.0%	1.92x	0.01x
Project Grizzly	—	buyout	2024	—	16.0%	1.18x	0.00x
Stripes III	Stripes	buyout	2015	—	16.0%	2.36x	1.48x
Fairview Constitution IV, L.P.	Fairview Capital Partners	buyout	2012	—	16.0%	2.60x	1.40x
Avenue Europe Special Situations Fund, L.P.	Avenue	special situations	2008	—	16.0%	—	1.49x
Pantheon Global Secondary Fund VII	Pantheon Ventures	secondaries	2022	—	16.0%	1.31x	0.02x
Industry Ventures Secondary VII, L.P.	Industry PH	venture capital	2013	—	16.0%	1.97x	1.78x
GoldenTree Loan Management II	GOLDENTREE LOAN MANAGEMENT US	direct lending	2019	—	16.0%	—	—
VWH Partners III, L.P.	—	private credit	2022	—	16.0%	2.37x	0.00x
HarbourVest -Dover Street X	Nexus	fund of funds	2019	—	15.9%	1.51x	0.42x
CVC Capital Partners VI, L.P. 7	CVC Capital Partners	buyout	2014	—	15.9%	1.96x	1.36x
KKR Real Estate Partners Americas II RE	Kohlberg Kravis Roberts	real estate equity	2016	—	15.9%	1.20x	0.35x
Adams Street Global Secondary Fund 6	Adams Street Partners	secondaries	2017	—	15.9%	1.60x	1.07x
TCV Sports	TCV	venture capital	2018	—	15.9%	2.79x	0.33x
Granite Global Ventures III, L.P. Venture Capital	Granite Ventures Llc	venture capital	2006	—	15.9%	2.30x	1.64x
(Lexington) Co-Investment Partners 2005 LP (Pool IV)	Lexington Partners	co investment	2017	—	15.9%	1.90x	1.05x
DCPF VI Oil & Gas Coinvestment Fund LP	Denham Capital	co investment	2013	—	15.9%	1.60x	1.60x
Apax Digital, L.P.	Apax	growth equity	2017	—	15.9%	1.64x	0.39x
FTVentures II & III	FTV Capital	private equity	2001	—	15.9%	1.37x	1.37x
MatlinPatterson Global Opportunities Partners, L.P.	MatlinPatterson Global	multi strategy	2002	—	15.9%	1.72x	1.72x
Wigmore Street VI Co-Investment No. 1 LP	Wigmore Street (BDC	co investment	2019	—	15.9%	1.86x	0.36x
C-Bridge Healthcare Fund V	C-Bridge Capital	buyout	2021	—	15.9%	1.40x	0.14x
Centerbridge Capital Partners IV	Centerbridge Partners, L.P.	buyout	2021	—	15.9%	1.41x	0.26x
Granite Global Ventures III, L.P.	—	private equity	2006	—	15.9%	2.30x	1.64x
Silicon Valley Bank Capital Partners IV	Silicon Valley Bank	buyout	2004	—	15.9%	1.40x	0.00x
Bridgepoint Europe V, L.P.	Bridgepoint	buyout	2014	—	15.9%	1.90x	1.42x
Lightyear Fund V, L.P.	Lightyear	buyout	2021	—	15.9%	1.49x	0.26x
Brookfield Infrastructure Fund IV, L.P.	Brookfield Asset Management	infrastructure	2019	—	15.9%	1.73x	0.41x
Blackstone Core Equity Partners - NC LP	The Blackstone Group	buyout	2017	—	15.9%	2.15x	0.58x
Vivo Capital Surplus Fund VIII, L.P.	Vivo Capital	venture capital	2015	—	15.9%	2.01x	1.55x
PAINE SCHWARTZ FOOD CHAIN FUND V LP	Paine Schwartz Partners	buyout	2019	—	15.9%	1.51x	0.43x
WM Partners II	WM Partners	tactical	2020	—	15.9%	1.42x	0.19x
Kohlberg Investors VII, L.P.	Kohlberg Investors	buyout	2012	—	15.8%	1.67x	1.67x
Stonepeak Real Estate Partners, LP	Stonepeak	real estate equity	—	—	15.8%	1.20x	0.02x
Core Property Index Fund (Secondary)	Investors Diversified Realty	real estate equity	2019	—	15.8%	1.16x	0.03x
First Reserve Fund VIII, L.P.	First Reserve Corporation	natural resources	1998	—	15.8%	1.90x	1.92x
DCPF VI Oil and Gas Coinvestment Fund LP	DCPF	co investment	2013	—	15.8%	1.60x	1.61x
Riverwood Capital Partners III	Riverwood Capital	buyout	2020	—	15.8%	1.58x	0.29x
Summit Ptrs Reinvestment Fund	Summit Partners	growth equity	2021	—	15.8%	1.39x	0.98x
AlpInvest Secondaries Fund (onshore) VII, L.P.	Carlyle Group	secondaries	2021	—	15.8%	1.36x	0.59x
Polaris Partners VIII	Polaris Partners	—	2017	—	15.8%	2.08x	1.10x
Mayfield XV	Mayfield Fund	venture capital	2017	—	15.8%	2.19x	0.39x
Summit Europe Growth Equity III	Summit Partners	growth equity	2020	—	15.8%	1.48x	0.31x
Ares U.S. Real Estate Fund IX, L.P.	Ares	real estate equity	2017	—	15.8%	1.60x	1.15x
Industry Ventures PH VI	Industry PH	venture capital	2021	—	15.8%	—	—
Artemis III	Artemis	real estate equity	2018	—	15.8%	1.32x	0.84x
Artemis Real Estate Partners Fund III L.P	Artemis	real estate equity	2019	—	15.8%	1.31x	0.94x
Sixth Street Lending Partners	Sixth Street	direct lending	2022	—	15.8%	1.21x	0.18x
Advent International GPE VIII B-2	Advent International	buyout	2016	—	15.8%	2.09x	1.41x
Advent International GPE VIIIB	Advent International	buyout	—	—	15.8%	1.94x	1.37x
Abbott Select Buyouts Partners III, L.P.	Abbott	buyout	2014	—	15.8%	1.80x	0.90x
NGP XII	Ngp	buyout	2018	—	15.8%	1.60x	1.02x
NYCP - 2015 Emerging Manager Program	NYCP - 2015 Emerging Manager Program	tactical	2015	—	15.8%	1.87x	0.92x
RCP Fund VI LP	RCP	buyout	2008	—	15.8%	2.07x	2.06x

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).