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.

7,717 fundsas of December 2025

All Private equity Private credit Real assets Opportunistic

Fund	Manager	Strategy	Vintage	Committed	Net IRR	TVPI	DPI
Welsh, Carson, Anderson & Stowe XI	Welsh, Carson, Anderson & Stowe	buyout	2009	—	11.5%	1.66x	1.66x
Bain Sankaty Credit Opportunities IV, L.P.	Sankaty	multi strategy	2008	—	11.5%	1.43x	1.27x
BIS NYC Infrastructure Emerging Manager Opportunities Fund	BIS NYC Infrastructure Emerging Manager	infrastructure	2020	—	11.5%	1.30x	0.05x
Canterbury Mezzanine Capital II	Canterbury Mezzanine	mezzanine	1999	—	11.5%	1.40x	1.41x
Coller International Partners IV	Coller Capital	secondaries	2002	—	11.5%	1.35x	1.35x
P2 Capital	P2 Capital Partners	buyout	2009	—	11.5%	—	—
Patriot Financial Partners II	Patriot Financial Partners	buyout	2013	—	11.5%	1.61x	1.53x
Project Bulldog	—	distressed debt	2016	—	11.5%	1.50x	1.50x
Stockbridge RE III	Stockbridge Capital Group	real estate equity	2017	—	11.5%	1.39x	1.25x
Harrison St. RE Partners IV, L.P.	Harrison Street Real Estate Capital	co investment	2013	—	11.5%	1.69x	1.67x
Avenue Special Situations Fund V, L.P.	Avenue	special situations	2007	—	11.5%	1.34x	1.34x
GSO Capital Opportunities Fund III LP	The Blackstone Group	special situations	2016	—	11.5%	1.54x	1.40x
AG Net Lease Realty Fund II, L.P.	Angelo Gordon	real estate equity	2010	—	11.5%	1.97x	1.97x
Pemberton Strategic Credit Fund II SCSp SICAVRAIF - Pemberton Strategic	Pemberton	direct lending	—	—	11.5%	1.69x	1.11x
Pathway Portfolio	Pathway Capital Management	tactical	1997	—	11.5%	1.80x	1.67x
Palladium III	Palladium	buyout	2005	—	11.4%	1.72x	1.72x
Carlyle Europe Partners IV, L.P.	Carlyle Group	buyout	2015	—	11.4%	1.58x	1.30x
ICV Partners IV	ICV	buyout	2018	—	11.4%	1.33x	0.64x
ASF VI, L.P.	ASF	infrastructure	2013	—	11.4%	1.43x	1.31x
WCP NewCold III, L.P.	Wcp	real estate equity	2025	—	11.4%	1.29x	0.41x
KKR Americas Fund XIII	Kohlberg Kravis Roberts	buyout	2021	—	11.4%	1.24x	0.02x
Fortress Lending Fund III	Fortress Investment Group	direct lending	2022	—	11.4%	1.25x	0.42x
Carlyle Strategic Partners II, L.P.	Carlyle Group	secondaries	2007	—	11.4%	1.30x	1.28x
Dawson Partners (Independence), L.P.	Dawson Partners	direct lending	2023	—	11.4%	1.20x	0.49x
Harbourvest Centre Street Co-Investment Fund L.P. - Series 1	HarbourVest Partners (Canada)	co investment	2021	—	11.4%	1.27x	1.27x
HarbourVest Partners VIII-Cayman Venture	HarbourVest Partners (Canada)	buyout	2014	—	11.4%	1.68x	1.40x
ASF VI B	ASF	infrastructure	2013	—	11.4%	1.43x	1.32x
Kelso VII	Kelso	co investment	2003	—	11.4%	1.60x	1.60x
Trident V LP	Stone Point	buyout	2010	—	11.4%	1.82x	1.82x
Topanga Private Opportunities	Topanga Private	multi strategy	2017	—	11.4%	1.61x	0.66x
Digital Colony I	Digital Colony Management	buyout	2018	—	11.4%	—	—
Florida Growth Fund LLC - Tranche II	Florida Growth	growth equity	2011	—	11.4%	1.80x	1.38x
Lime Rock Partners VIII, L.P.	Lime Rock Partners	buyout	2017	—	11.4%	1.61x	1.10x
Opportunistic Debt	OPPORTUNISTIC DEBT	direct lending	—	—	11.4%	—	—
Prt Fin II	Crestline Investors	fund of funds	—	—	11.4%	—	—
FountainVest China Growth Capital Fund II, L.P.	FountainVest Partners	growth equity	2013	—	11.4%	1.40x	1.36x
Thoma Bravo Discover III	Thoma Bravo	growth equity	2020	—	11.4%	1.47x	0.05x
Lexington Middle Market Investors I, L.P.	Lexington Partners	secondaries	2005	—	11.4%	—	1.64x
Lexington Middle Market Investors, L.P.	Lexington Partners	secondaries	2004	—	11.4%	1.64x	1.63x
H.I.G. Strategic Partners Fund, L.P. PE	H.I.G. Capital	growth equity	—	—	11.4%	1.38x	0.83x
ICV IV	ICV	buyout	2017	—	11.3%	1.37x	0.59x
Industry Ventures Direct, L.P.	Industry Ventures	venture capital	2016	—	11.3%	—	1.79x
Adams Street SBCERA	Adams Street Partners	fund of funds	2020	—	11.3%	—	1.38x
Level Equity Growth Partners V LP	Level Equity	growth equity	2021	—	11.3%	1.24x	0.00x
Balance Point Capital Partners III, L.P.	Balance Point Capital Partners	buyout	2017	—	11.3%	1.30x	0.90x
ASF VI NYC Co-Invest, L.P.	ASF	infrastructure	2014	—	11.3%	1.47x	1.33x
Blackstone Energy Partners	The Blackstone Group	natural resources	2011	—	11.3%	1.67x	1.54x
FOUNDRY GROUP SELECT FUND LP	Foundry	growth equity	2013	—	11.3%	1.64x	1.24x
Arlington Capital Partners II	Arlington Capital Partners	buyout	2005	—	11.3%	1.77x	1.77x
Carlyle Global Infrastructure Opportunity Fund	Carlyle Group	multi strategy	2019	—	11.3%	1.41x	0.32x
Onex Partners III	Onex Corporation	buyout	2008	—	11.3%	1.68x	1.68x
HarbourVest Partners VIII	HarbourVest Partners (Canada)	secondaries	—	—	11.3%	2.30x	1.93x
ASF VI B NYC Co-Invest	Ardian	infrastructure	2014	—	11.3%	1.47x	1.32x
ASF VI-B LP	Ardian	infrastructure	2013	—	11.3%	1.42x	1.31x
ASF VI B NYC Co-Invest	ASF	infrastructure	2014	—	11.3%	1.47x	1.32x
Global Energy & Power Infrastructure Fund II	GIP	infrastructure	2014	—	11.3%	1.24x	1.00x
Starboard Value and Opportunity S LLC	Starboard Value and Opportunity S LLC	buyout	2011	—	11.3%	3.35x	—
TCW Commingled Debt & Royalty III	TCW Commingled Debt & Royalty	specialty finance	1991	—	11.3%	1.30x	1.35x
Warren Equity Partners Fund III	Warren	buyout	2021	—	11.3%	1.38x	0.03x
Tailwind Capital Partners (PP), LP	Tailwind Capital	buyout	2007	—	11.3%	1.49x	1.49x
NEA 15, L.P.	New Enterprise Associates (NEA)	multi strategy	2015	—	11.3%	1.83x	1.03x
Sprott Private Resource Lending II (US), LP	Sprott Private Resource Lending	direct lending	2012	—	11.3%	1.92x	1.43x
Clearlake Capital Partners VI	Clearlake Capital Group	buyout	2020	—	11.3%	1.52x	0.15x
Apollo Hybrid Value Fund II LP	Apollo	multi strategy	2021	—	11.3%	1.22x	0.20x
TSSP Capital Solutions (A), L.P.	TSSP	buyout	2019	—	11.3%	1.43x	0.53x
Kayne Anderson Real Estate Debt III, L.P.	Kayne Anderson Capital Advisors	real estate debt	2018	—	11.2%	1.27x	1.27x
OSP Value Fund III-B, LP	Oak Street Real Estate Capital	buyout	2022	—	11.2%	1.10x	0.70x
TPG Asia VII (A), L.P.	TPG	buyout	2019	—	11.2%	1.46x	0.64x
Brinson International Partners Fund	UBS Asset Management	tactical	1998	—	11.2%	1.74x	1.74x
Astorg VII	Astorg	buyout	2019	—	11.2%	1.51x	0.48x
KKR Real Estate Partners Americas I RE	Kohlberg Kravis Roberts	real estate equity	2013	—	11.2%	1.24x	1.17x
Catterton Partners VI	L Catterton	buyout	2006	—	11.2%	1.90x	1.90x
Catterton Partners VI, L.P.	L Catterton	growth equity	2006	—	11.2%	1.90x	1.90x
Madison Dearborn Capital Partners VIII-A, L.P	Madison Dearborn Partners	buyout	2019	—	11.2%	1.32x	0.45x
Blackrock Global Infrastructure Fund IV	BlackRock	infrastructure	2022	—	11.2%	14.00x	0.02x
Green Equity Investors IV LP	Green	buyout	2003	—	11.2%	1.92x	1.92x
AXA LBO Fund V, L.P.	Axa Lbo	buyout	2003	—	11.2%	1.57x	1.44x
Hahn & Company III-S L.P.	Hahn & Company	buyout	2018	—	11.2%	1.55x	0.19x
Roark Capital Partners V	Roark	buyout	2018	—	11.2%	1.56x	0.25x
Silver Lake Partners V LP	Silver	buyout	2018	—	11.2%	1.62x	0.74x
Silver Point Specialty Credit II	Silver	specialty finance	2020	—	11.2%	1.30x	0.70x
Stonepeak Spear (Co-Invest) Holdings	Stonepeak	infrastructure	2018	—	11.2%	—	1.96x
EFL Special Partners LP (ESOF III Pte. Ltd.)	Efl Special	buyout	2020	—	11.2%	1.14x	0.38x
Kayne Anderson Energy Fund V (	Kayne Anderson Capital Advisors	natural resources	2008	—	11.2%	1.41x	1.41x
Sapphire Emerging Ventures VII	Sapphire Emerging	venture capital	2025	—	11.2%	1.08x	—
Joseph, Littlejohn & Levy Fund III, LP	Littlejohn	buyout	1998	—	11.2%	1.50x	1.54x
Stone Oak Fund L.P. (Select Class)	Stone Oak	buyout	—	—	11.2%	1.77x	0.52x
Welsh, Carson, Anderson & Stowe IX	Welsh, Carson, Anderson & Stowe	buyout	2000	—	11.2%	1.70x	1.66x
Arbour Lane Credit Opportunity Fund III (A), L.P.	Arbour Lane Capital Management	multi strategy	2021	—	11.2%	1.24x	0.00x
EQT IX Co-Invest Platform (No. 3) SCSp	EQT	co investment	2020	—	11.1%	1.51x	0.02x
GI Partners Fund V, L.P.	GI Partners	buyout	2018	—	11.1%	1.49x	0.87x
KKR European Fund III LP	Kohlberg Kravis Roberts	buyout	2008	—	11.1%	1.63x	1.61x
GSO COF III Co-Investment Fund LP	The Blackstone Group	co investment	—	—	11.1%	1.32x	1.27x
Adams Street Partners Fund	Adams Street Partners	secondaries	2012	—	11.1%	1.37x	1.13x
Adams Street Partnership Fund 2004 Non U.S. Fund	Adams Street Partners	buyout	2004	—	11.1%	1.42x	1.42x
Adams Street Partnership Fund 2005 Non U.S. Fund	Adams Street Partners	buyout	2004	—	11.1%	1.35x	1.35x
Adams Street Partnership Fund 2007 Non U.S. Fund	Adams Street Partners	buyout	2004	—	11.1%	1.63x	1.63x
TriGate Property Partners II, L.P.	General Atlantic	real estate equity	2006	—	11.1%	1.53x	1.50x
Sixth Street Opportunities Partners IV (A)	Sixth Street	buyout	2018	—	11.1%	1.32x	0.79x
Sixth Street Opportunities Partners IV, L.P.	Sixth Street	buyout	2019	—	11.1%	1.50x	0.67x

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).