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
Adams Street - 2008 Non-U.S. Fund	Adams Street Partners	growth equity	2008	—	10.3%	1.90x	1.84x
StepStone Tactical Growth Fund III, L.P.	Stepstone Group	growth equity	2020	—	10.3%	1.33x	0.30x
Warburg Pincus Equity Partners, L.P.	Warburg Pincus	growth equity	1998	—	10.3%	1.70x	1.66x
Angelo Gordon Direct Lending Fund IV	TPG	direct lending	2020	—	10.3%	1.39x	0.69x
Hillhouse Focused Growth V	Hillhouse Capital	growth equity	2021	—	10.3%	—	—
Minerva Partners	Minerva Partners	tactical	2022	—	10.3%	1.40x	—
EQT Infrastructure IV	EQT	infrastructure	2018	—	10.3%	1.50x	0.30x
Highbridge Tactical Credit Fund, L.P.	Highbridge	tactical	2006	—	10.3%	1.55x	—
OCM Opportunities Fund, LP	Oaktree	special situations	1995	—	10.3%	1.64x	1.64x
PSP AH&N Co-Investment Fund	PSP AH&N Co	co investment	2019	—	10.3%	1.63x	—
Red Hills Rail I (A.K.A ITE Rail Co-Invest SMA)	Red Hills Rail	co investment	2021	—	10.3%	1.11x	0.04x
Atalaya Real Assets SMA	Atalaya Capital	infrastructure	2015	—	10.3%	—	1.25x
Charlcsbank Equity Fund VI, L P.	Charlesbank Capital Partners	private equity	2005	—	10.3%	—	1.18x
Riverside Capital Appreciation Fund VI LP	The Riverside Company	buyout	2013	—	10.3%	1.46x	1.24x
DRA Growth & Income Fund V Co-Investment, LLC	DRA	growth equity	2005	—	10.3%	1.99x	1.99x
Oak HC-FT Partners III	Oak HC/FT	growth equity	2019	—	10.3%	1.55x	0.10x
Monroe Capital Private Credit (Delaware) Feeder Fund IV, L.P.	Monroe	direct lending	2021	—	10.3%	1.34x	0.38x
Madison Realty Capital Debt Fund V LP	Madison Dearborn	real estate equity	—	—	10.2%	1.34x	0.70x
Carlyle Credit Opportunities Fund III, L.P.	Carlyle Group	multi strategy	2024	—	10.2%	1.05x	0.19x
FP Credit Partners II - NYSCRF Co-Investment Fund, LP	FP Co	direct lending	2021	—	10.2%	1.24x	0.26x
Kayne Anderson Real Estate Partners V, L.P.	Kayne Anderson Capital Advisors	real estate equity	2017	—	10.2%	1.47x	0.77x
BC European Capital IX LP	BC Partners	buyout	2011	—	10.2%	1.60x	1.36x
Pantheon USA IV	Pantheon Ventures	fund of funds	2000	—	10.2%	1.60x	1.60x
HarbourVest Partners 2007 Direct Fund	HarbourVest Partners (Canada)	buyout	2007	—	10.2%	1.69x	1.69x
American Core Realty - Separate Account	American Core Realty - Separate Account	real estate equity	2012	—	10.2%	1.47x	1.47x
BCP Special Opportunities Fund II, L.P.	BCP	special situations	2020	—	10.2%	1.21x	0.24x
EQT IX	EQT	buyout	2019	—	10.2%	1.36x	0.19x
Metwest Enhanced TALF Strategy Fund L. P.	Metwest Enhanced TALF Strategy	direct lending	2009	—	10.2%	—	1.26x
Actis Energy 3 Co-Investment LP	Actis	infrastructure	2013	—	10.2%	1.45x	1.42x
Apollo European Principal Finance Fund II (US)	Apollo	distressed debt	2011	—	10.2%	1.25x	0.25x
ASF VI B NYC Co-Invest Vista Equity	—	infrastructure	2014	—	10.2%	—	—
Audax Mezzanine Fund IV-A, L.P.	Audax Group	mezzanine	2015	—	10.2%	1.25x	0.98x
Bryanston Real Estate Opportunity Fund II, L.P.	Bryanston Realty Partners	real estate equity	2009	—	10.2%	1.38x	1.38x
Versant Venture Capital I, L.P.	Versant Venture Capital	venture capital	1999	—	10.2%	2.02x	2.02x
W Capital Partners II, LP	Riva Capital	venture capital	2007	—	10.2%	1.39x	1.34x
Warburg Pincus IX- VC-60	Warburg Pincus	growth equity	2005	—	10.2%	1.75x	1.70x
Ares Pathfinder Core Fund LP	Ares	specialty finance	2021	—	10.2%	1.08x	0.06x
Summit Partners Private Equity Fund VII-A, L.P.	Summit Partners	growth equity	2006	—	10.2%	1.87x	1.83x
Marathon Centre Street Partnership, L.P. - Asset Class	Marathon	direct lending	2020	—	10.2%	1.36x	0.36x
Industry Ventures Partnership Holdings III-B, L.P.	Industry Ventures	secondaries	2014	—	10.2%	1.74x	0.83x
Horsley Bridge XI Growth Buyout L.P.	HORSLEY BRIDGE VENTURE	venture capital	2016	—	10.2%	1.20x	—
Foundry Group Next 2018 Partner Fund, L.P.	Foundry	venture capital	—	—	10.2%	1.46x	0.00x
Triton Fund III, L.P.	TRITON FUNDS LLC	buyout	2009	—	10.2%	1.50x	1.51x
Pantheon Europe VI	Pantheon Ventures	secondaries	2007	—	10.1%	1.79x	1.65x
KKR Red Lion, L.P.	Kohlberg Kravis Roberts	buyout	1985	—	10.1%	3.30x	3.29x
GSO Energy Select Opportunities Fund LP	The Blackstone Group	special situations	2015	—	10.1%	1.41x	1.32x
LLC GSO Capital Opportunities Fund LP	The Blackstone Group	buyout	2007	—	10.1%	—	—
Adams Street Partners II	Adams Street Partners	secondaries	2009	—	10.1%	1.71x	1.62x
Marathon Distressed Credit Fund	Marathon	distressed debt	2020	—	10.1%	1.38x	0.80x
Invesco Real Estate IV	Invesco	real estate equity	2014	—	10.1%	1.31x	1.31x
Sixth Street TAO Partners (B), L.P.	Sixth Street	tactical	2018	—	10.1%	1.10x	0.57x
H.I.G. Europe Capital Partners II	H.I.G. Capital	buyout	2014	—	10.1%	1.29x	0.97x
Permira Credit Solutions IV Master (Feeder) SCSp	Permira	direct lending	2019	—	10.1%	1.40x	0.61x
ONCAP IV PE	ONCAP	buyout	2016	—	10.1%	1.25x	0.25x
Denham Oil & Gas Fund LP	Denham Capital	buyout	2016	—	10.1%	1.46x	0.58x
Ardian Infra Fund V Co-Invest Eden	Ardian	infrastructure	2022	—	10.1%	1.40x	—
Bayview Opportunity Domestic III B LP	Bayview Opportunity Domestic	buyout	2012	—	10.1%	1.43x	1.43x
Bayview Opportunity Master Fund IIIb, L.P.	Bayview Opportunity Master	buyout	2011	—	10.1%	1.43x	1.43x
FP Intl 2014	FP Intl	tactical	2014	—	10.1%	1.57x	1.05x
Glencoe Capital Institutional Partners III, L.P	Glencoe	buyout	2002	—	10.1%	1.53x	0.80x
Lyons Magnus Co-Investment Fund I	Lyons Magnus Co	co investment	2017	—	10.1%	2.13x	—
Oak Investment Partners XIII	Oak Investment Partners	buyout	2010	—	10.1%	2.59x	0.97x
TSSP Opportunities Partners IV (A), L.P.	TSSP	multi strategy	2018	—	10.1%	1.48x	0.74x
Alchemy Special Opportunities Fund II, L.P.	The Alchemy Fund	special situations	2010	—	10.1%	1.55x	1.31x
Blue Owl Real Estate Net Lease Property Fund	Blue Owl Capital	real estate equity	2019	—	10.1%	1.40x	0.30x
Blue Torch Credit Opportunities Fund II	Blue Torch Capital	multi strategy	2020	—	10.1%	1.27x	0.52x
GSC Recovery II, L.P.	GSC Group	direct lending	2000	—	10.1%	1.54x	1.54x
Meridiam Infrastructure (SCA)	Meridiam	infrastructure	2015	—	10.1%	1.56x	0.37x
P2 Capital Fund LP	P2 Capital Partners	buyout	2010	—	10.1%	3.95x	—
Project Secret Agent	Project Secret Agent	buyout	2020	—	10.1%	1.50x	0.04x
Davidson Kempner Long-Term Distressed Opportunities Fund V LP	Davidson Kempner	multi strategy	2020	—	10.1%	1.45x	0.23x
Pemberton Strategic Credit Fund III SCSp SICAV-RAIF - Pemberton Strategi	Pemberton	direct lending	—	—	10.1%	1.50x	0.80x
MBK Partners Fund III, L.P.	MBK Partners	buyout	2013	—	10.0%	1.56x	1.53x
Tritium II, LP	Tritium Partners	buyout	—	—	10.0%	1.65x	0.48x
Siguler Guff Distressed Opportunities Fund III, L.P.	Siguler Guff	distressed debt	2008	—	10.0%	—	1.62x
Stonepeak Infrastructure Fund IV	Stonepeak	infrastructure	2021	—	10.0%	1.31x	0.19x
Levine Leichtman Capital Partners III, L.P.	Levine Leichtman	buyout	2003	—	10.0%	1.56x	1.56x
General Catalyst Group X - Early Venture	General Catalyst	venture capital	2020	—	10.0%	1.50x	—
General Catalyst X - Early Venture	General Catalyst	venture capital	2020	—	10.0%	1.54x	—
Pantheon USA VII	Pantheon Ventures	fund of funds	2006	—	10.0%	1.86x	1.79x
KKR North America Fund XIII	Kohlberg Kravis Roberts	buyout	2021	—	10.0%	1.22x	0.02x
BLACKSTONE REAL ESTATE PARTNERS EUROPE IV LP	The Blackstone Group	real estate equity	2013	—	10.0%	1.37x	1.24x
Interwest Partners IV	InterWest	venture capital	1989	—	10.0%	1.65x	1.65x
TriGate Property Partners III, L.P.	General Atlantic	real estate equity	2008	—	10.0%	1.40x	1.15x
Neuberger Berman Strategic Co-Investment II	Neuberger Berman	co investment	2012	—	10.0%	1.36x	0.97x
Franklin Park XIII	Franklin Park	tactical	2020	—	10.0%	1.34x	0.08x
Sixth Street TAO 4.0 (B)	Sixth Street	tactical	2017	—	10.0%	1.40x	0.48x
ICG North American Private Debt Fund II	Intermediate Capital Group	direct lending	2019	—	10.0%	1.20x	0.83x
The Rise Fund (A), L.P.	The Rise Fund	growth equity	2017	—	10.0%	1.46x	0.61x
Onex Partners V-B LP	Onex Corporation	buyout	2018	—	10.0%	1.44x	0.28x
New Enterprise Associates 15	New Enterprise Associates (NEA)	venture capital	2015	—	10.0%	1.75x	1.05x
Ardian LBO Fund VI, L.P	Ardian	buyout	2004	—	10.0%	1.34x	0.47x
Ascribe Opportunities IV	Ascribe	multi strategy	2019	—	10.0%	1.26x	0.33x
Cadence Bancorp LLC	Cadence Bancorp	direct lending	2010	—	10.0%	1.93x	1.92x
Carbon Capital VI LP	Carbon	real estate equity	2016	—	10.0%	1.00x	0.84x
Russell 3000 TR	Russell 3000 TR	tactical	—	—	10.0%	—	—
VARDE FUND X LP	The Varde	distressed debt	2011	—	10.0%	1.74x	1.70x
Varde Partners Fund X, L.P.	The Varde	direct lending	2009	—	10.0%	1.74x	1.67x
WEP Co-Invest IV	WEP	fund of funds	2023	—	10.0%	1.13x	0.02x
Equistone European Fund V	Equistone Partners Europe	buyout	2003	—	10.0%	1.53x	0.68x

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).