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
Trustbridge Partners IV L.P.	Trustbridge Partners	growth equity	2011	—	14.8%	3.20x	2.26x
Rcp Fund XIII	RCP	buyout	2018	—	14.8%	1.48x	0.32x
TCW Special Credits Fund V - The Principal Fund	TCW Special Credits	specialty finance	1994	—	14.8%	1.74x	1.74x
Thor Urban Property Fund II	Thor Urban Property	real estate equity	2009	—	14.8%	—	1.02x
Windjammer Senior Equity Fund V, L.P.	Windjammer Capital	buyout	2017	—	14.8%	1.57x	0.86x
Hg Genesis 9	Hg Capital	buyout	2020	—	14.8%	1.53x	0.43x
High Street Real Estate VII Venture	High Street Real Estate	real estate equity	2023	—	14.8%	1.32x	0.08x
LION INDUSTRIAL TRUST	Clarion Partners	real estate equity	2015	—	14.8%	2.83x	0.49x
Redwood Opportunities SCSp	Redwood Offshore	multi strategy	2020	—	14.8%	1.38x	0.00x
Shasta Ventures V, L.P.	Shasta Ventures	venture capital	2017	—	14.8%	2.44x	0.39x
TTCP NMERB SMA, L.P.	TTCP NMERB SMA	venture capital	2017	—	14.8%	1.97x	0.56x
Adams Street 2016 Global Fund	Adams Street Partners	growth equity	2016	—	14.8%	1.94x	0.78x
Centerbridge Special Credit Partners IV Co-invest	Centerbridge Partners, L.P.	distressed debt	2023	—	14.8%	1.09x	—
Northbound NCRS Fund, L.P.	North	buyout	2015	—	14.8%	2.10x	0.78x
Crescent CRPTF Private Credit L.P.	Crescent Crptf Private	direct lending	2022	—	14.7%	1.20x	0.00x
Frazier Healthcare Ventures V, L.P.	Frazier Healthcare Partners	venture capital	2005	—	14.7%	2.28x	2.28x
Hancock Agricultural	John Hancock	buyout	1998	—	14.7%	3.67x	2.36x
KBA Partners, L.P.	KBA	buyout	1987	—	14.7%	2.20x	2.15x
Sofinnova Venture Partners VII	Sofinnova Ventures	venture capital	2007	—	14.7%	1.71x	1.71x
Mission Bay Capital II	Mission Bay Capital	buyout	2015	—	14.7%	2.35x	0.98x
Platinum Equity Capital Partners IV Co-Investment	Platinum	buyout	2018	—	14.7%	2.03x	0.00x
Clarus Lifesciences II, L.P.	Clarus	venture capital	2008	—	14.7%	1.84x	1.79x
High Street Real Estate Fund IV RE	High Street Real Estate	real estate equity	2013	—	14.7%	—	1.38x
High Street Real Estate Fund IV, L.P.	High Street Real Estate	real estate equity	2013	—	14.7%	—	1.38x
WindRose Health Investors V LP	WindRose Health Investors	buyout	2019	—	14.7%	1.69x	0.39x
Altimeter Growth Partners Fund VI, L.P.	Altimeter Capital	growth equity	—	—	14.7%	1.49x	0.01x
Platinum Equity Capital Partners IV, L.P. (Co-Invest)	Platinum	co investment	2018	—	14.7%	2.03x	0.14x
Ares Special Opportunities Fund, L.P.	Ares	special situations	2020	—	14.6%	1.54x	0.97x
Canaan VII, L.P.	Canaan Partners	venture capital	2005	—	14.6%	2.53x	2.33x
Tenex Capital Partners, L.P.	Tenex Capital Management	buyout	2011	—	14.6%	1.54x	1.51x
Fortress Credit Opportunities Fund II(A)	Fortress Investment Group	multi strategy	2010	—	14.6%	2.15x	2.06x
Palladium V	Palladium	buyout	2018	—	14.6%	1.65x	0.64x
HarbourVest Partners Co-Investment VI	HarbourVest Partners (Canada)	secondaries	2021	—	14.6%	1.38x	0.02x
RLH IV	Rlh	buyout	2017	—	14.6%	1.58x	0.39x
Main Post Growth Capital II, L.P.	MAIN	growth equity	—	—	14.6%	1.84x	0.47x
Summit Partners Co-Invest (Lions)	Summit Partners	growth equity	2020	—	14.6%	1.93x	0.02x
Silver Lake Technology Investors V, L.P.	Silver Lake Partners	growth equity	2018	—	14.6%	1.86x	0.74x
Blackstone Real Estate Partners Europe Fund VII	The Blackstone Group	real estate equity	2023	—	14.6%	1.13x	0.02x
Blackstone Real Estate Partners VII	The Blackstone Group	real estate equity	2011	—	14.6%	1.62x	1.54x
Ares PA Opportunities Fund, L.P. - Distressed Debt	Ares	special situations	2019	—	14.6%	1.40x	0.38x
Apollo Hybrid Value Fund	Apollo	multi strategy	2018	—	14.6%	1.30x	1.05x
ICG Europe Fund VII Feeder SCSp	Intermediate Capital Group	buyout	2018	—	14.6%	1.64x	1.24x
FP Intnl X	FP Intnl	tactical	2021	—	14.6%	1.37x	0.07x
Snow Phipps II AIV LP	Snow Phipps	buyout	2010	—	14.6%	1.37x	1.37x
TDR Co-Investment	TDR	co investment	2016	—	14.6%	2.83x	2.04x
Trilantic Capital Partners III (fka LBMB III)	Trilantic	buyout	2004	—	14.6%	1.64x	1.64x
Audax Direct Lending Fund A	Audax Group	direct lending	2017	—	14.6%	1.49x	0.58x
EQT VII, L.P. American Securities Partners VII, L.P.	EQT Partners	buyout	2015	—	14.6%	—	1.47x
Lime Rock Partners IV, LP	Lime Rock Partners	buyout	2006	—	14.6%	2.91x	2.91x
MCP Private Capital Fund III	Metric Capital Partners	direct lending	2012	—	14.6%	1.56x	0.67x
Pathlight Capital Fund III	Pathlight Capital	direct lending	2022	—	14.6%	1.14x	0.63x
WLR IV PPIP Co-Invest	WLR Recovery	real estate equity	2010	—	14.6%	1.39x	1.39x
Appian Zilker PV1 LP	Appian Zilker PV1 LP	tactical	—	—	14.6%	1.27x	0.13x
North Sky Capital LBO Fund III, L.P.	North Sky	buyout	2014	—	14.6%	1.53x	1.43x
ICG Strategic Equity Fund IV	Intermediate Capital Group	secondaries	2021	—	14.5%	1.35x	0.28x
HPS Specialty Loan Fund VI-L, L.P.	HPS Investment Partners, LLC	direct lending	2023	—	14.5%	1.10x	0.07x
SkyKnight Financial Holdings, L.P.	SkyKnight Capital	buyout	—	—	14.5%	1.15x	—
Blackstone Capital Partners III, L.P.	The Blackstone Group	buyout	1997	—	14.5%	2.00x	2.00x
Kainos Capital Partners II LP	Kainos	buyout	—	—	14.5%	1.52x	1.31x
Blackstone Strategic Capital Holdings	The Blackstone Group	real estate debt	2014	—	14.5%	1.88x	0.71x
Warburg Pincus Private Equity VIII, L.P.	Warburg Pincus	growth equity	2001	—	14.5%	2.20x	2.24x
Carnelian Energy Capital IV LP	CARNELIAN ENERGY CAPITAL	buyout	2022	—	14.5%	1.21x	0.70x
Affinity Asia Pacific Fund IV, L.P.	Affinity Equity Partners	buyout	2013	—	14.5%	1.66x	1.26x
NGP Natural Resources XII, L.P.	Ngp	natural resources	2017	—	14.5%	1.65x	1.05x
NYCP - 2019 Emerging Manager Program	NYCP - 2019 Emerging Manager Program	tactical	2019	—	14.5%	1.41x	0.46x
GCM Grosvenor Secondary Opportunities Fund III, LP	GCM Grosvenor	multi strategy	2020	—	14.5%	1.31x	0.18x
Iconiq Strategic Partners IV L.P.	ICONIQ	secondaries	2019	—	14.5%	1.81x	0.82x
InfraVia European Fund V SCSp	InfraVia Capital Partners	infrastructure	2022	—	14.5%	11.00x	0.06x
Merit Energy Partners E-I	Merit Energy Company	natural resources	2004	—	14.5%	2.10x	2.13x
New 2ND Capital N Sidecar	New 2nd Capital	secondaries	2023	—	14.5%	1.20x	0.07x
New Mountain Partners III LP	New Mountain Capital	buyout	2007	—	14.5%	2.40x	2.37x
Program Harbourvest Centre Street Co-Investment	HarbourVest Partners (Canada)	buyout	2021	—	14.5%	—	0.03x
Providence TMT Special Situation Fund LP	Providence	special situations	2008	—	14.5%	1.81x	1.81x
Eagle Point Credit Partners	Eagle Point Defensive Income	direct lending	2020	—	14.5%	—	—
ASP Lake Lasalle Fund 2018-2021	—	—	2018	—	14.5%	1.59x	0.23x
LAV Biosciences Fund IV, L.P.	Lilly Asia Ventures	venture capital	2017	—	14.5%	1.85x	1.11x
Arrow Credit Opportunities II USD Feeder SCSp	Arrowstreet	multi strategy	—	—	14.5%	1.22x	0.09x
ECI 11	ECI	tactical	2018	—	14.4%	1.65x	0.58x
Frazier Technology Ventures II, L.P.	Frazier Healthcare Partners	venture capital	2004	—	14.4%	4.46x	4.46x
Centerbridge Special Credit III - Flex	Centerbridge Partners, L.P.	direct lending	2020	—	14.4%	1.44x	0.88x
Nutmeg Opportunities Fund L.P. CT SMMBF	Nutmeg Opportunities	multi strategy	2010	—	14.4%	2.10x	1.60x
Industry Ventures Partnership Holdings IV - Secondary	Industry PH	venture capital	2019	—	14.4%	2.16x	0.60x
Summit Partners Europe Growth Equity Fund III, SCSP	Summit Partners	growth equity	2020	—	14.4%	1.47x	0.25x
Fortress Credit Opportunites Fund V Expansion	Fortress Investment Group	direct lending	2020	—	14.4%	1.18x	0.18x
Neuberger Berman Secondary Opportunities Fund II, L.P.	Neuberger Berman	secondaries	2008	—	14.4%	—	1.54x
Shamrock Capital Content Fund II, L.P.	Shamrock Capital	growth equity	2020	—	14.4%	1.39x	0.44x
Lexington Capital Partners IX	Lexington Partners	secondaries	2019	—	14.4%	1.54x	0.54x
H.I.G Bayside Loan Opportunity Fund V	H.I.G. Capital	growth equity	2019	—	14.4%	1.86x	0.82x
Permira VI, L.P.	Permira	buyout	2017	—	14.4%	2.02x	1.16x
Carlyle Partners VI, L.P. (Side Car) Landmark Equity Partners XV, L.P.	Carlyle Group	buyout	2014	—	14.4%	—	1.35x
Vector Capital IV	Vector	buyout	2007	—	14.4%	2.05x	2.05x
Angeles Equity Partners I	Angeles Equity	buyout	2015	—	14.4%	2.33x	1.00x
Ardian Infrastructure Fund V B	Ardian	infrastructure	2019	—	14.4%	1.50x	0.14x
KSL Capital Partners Credit Opportunities Fund	KSL	multi strategy	2014	—	14.4%	1.38x	1.38x
Palladium Equity Partners III	Palladium	buyout	2004	—	14.4%	1.86x	1.86x
SPC Partners III, L.P.	SPC LP	buyout	2003	—	14.4%	1.94x	1.94x
ABRY Senior Equity IV	ABRY Partners	mezzanine	2012	—	14.4%	1.66x	1.58x
ABRY Senior Equity Partners IV, L.P.	ABRY Partners	buyout	2012	—	14.4%	1.75x	1.66x
Centerbridge Special Credit Partners III - Flex	Centerbridge Partners, L.P.	direct lending	2020	—	14.4%	1.46x	0.98x
DIF Infrastructure Fund VII SCSp	DIF Capital Partners	infrastructure	2022	—	14.4%	1.18x	0.02x

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).