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
RLJ Equity Partners Fund II, L.P.	RLJ	buyout	2019	—	8.4%	1.20x	0.30x
Shore Co-Investment Holdings II	Shore Co	co investment	2014	—	8.4%	—	1.11x
ACM Permanent Crops	Agriculture Capital Management	natural resources	2014	—	8.4%	1.97x	0.30x
Asia Alternatives FL Investor LP	Asia Alternatives Management	buyout	2014	—	8.4%	1.57x	0.90x
Energy Capital Partners II-A LP	Energy	infrastructure	2009	—	8.4%	1.46x	1.46x
GCM Grosvenor NYCFDPF Emerging Manager Fund, L.P.	GCM Grosvenor	fund of funds	2008	—	8.4%	1.46x	1.18x
Pharos Capital Co-Investment, LLC	Pharos Capital Group	co investment	2007	—	8.4%	1.70x	1.69x
Quantum Energy Partners VIII	Quantum	natural resources	2022	—	8.4%	1.08x	0.32x
TCW/Crescent Mezzanine Partners VI, L.P.	Crescent Capital Group	mezzanine	2002	—	8.4%	1.33x	1.03x
AG Global Debt Strategy Partners, L.P.	Angelo Gordon	direct lending	2008	—	8.4%	2.83x	0.02x
BGH Capital Fund I, L.P.	BGH	real estate equity	2019	—	8.4%	1.30x	0.22x
Stonepeak Infrastructure Partners III	Stonepeak	infrastructure	2017	—	8.4%	1.38x	0.35x
AE Industrial Partners Fund I, L.P.	AE Industrial Partners	buyout	2015	—	8.4%	1.36x	1.08x
Icon Partners V, L.P.	Clearlake	buyout	2021	—	8.4%	1.33x	0.00x
NCL Investments II LP - Outside Opportunities Series B	NCL Investments	multi strategy	2019	—	8.4%	1.29x	0.15x
Constitution Fund V, LLC Series B	Constitution	buyout	2017	—	8.4%	1.50x	0.90x
Credit Opportunity Partners JV	Credit Opportunity	direct lending	2019	—	8.4%	—	—
CVI Credit Value Fund III	CVI	distressed debt	2015	—	8.3%	1.38x	1.18x
Mesa West Real Estate Income Fund III, L.P.	Mesa West Capital	real estate equity	2013	—	8.3%	1.28x	1.28x
Castlelake V, L.P.	Castlelake Pte. Ltd.	buyout	2018	—	8.3%	1.46x	1.00x
M2 PEFOF (Developing)	M2 PEFOF (Developing)	tactical	2006	—	8.3%	1.48x	1.48x
Welsh, Carson, Anderson & Stowe X, L.P.	Welsh, Carson, Anderson & Stowe	buyout	2005	—	8.3%	1.70x	1.70x
Carlyle Partners VII LP	Carlyle Group	buyout	2018	—	8.3%	1.39x	0.35x
CVI Credit Value Fund A V LP	CVI	distressed debt	2020	—	8.3%	1.24x	0.42x
EQT IX (No. 2) USD SCSP	EQT	buyout	2020	—	8.3%	1.26x	0.30x
Raine Partners IV, L.P.	Raine	buyout	2022	—	8.3%	1.11x	0.00x
ISQ Global Infrastructure Fund III - Co-Invest	ISQ Global Infrastructure	infrastructure	2021	—	8.3%	1.10x	0.02x
Lightspeed Venture Partners VII	Lightspeed Venture Partners	venture capital	2005	—	8.3%	1.43x	1.43x
Blackstone Energy Partners II, L.P.	The Blackstone Group	natural resources	2015	—	8.3%	1.52x	0.92x
AG Realty Fund X, L.P.	TPG	real estate equity	2018	—	8.3%	1.28x	0.70x
Shamrock Capital Debt Opportunities Fund I L.P.	Shamrock Capital	multi strategy	2020	—	8.3%	1.11x	0.78x
H.I.G. Brazil & Latin America Partners	H.I.G. Capital	growth equity	2015	—	8.3%	1.41x	0.58x
Permira European Fund IV, L.P.	Permira	buyout	2007	—	8.3%	1.56x	1.56x
Permira IV LP (EUR)	Permira	buyout	2006	—	8.3%	1.56x	1.56x
Brookfield Super Core Infrastructure Partners	Brookfield Asset Management	infrastructure	2024	—	8.3%	1.21x	0.09x
Onex Partners IV PE	Onex Corporation	buyout	2013	—	8.3%	1.34x	0.65x
Green Credit Investors, L.P.	Green	direct lending	2012	—	8.3%	1.14x	1.14x
Greenfield V	Green	buyout	2007	—	8.3%	1.38x	1.38x
Cerberus Global NPL Fund II	Cerberus	distressed debt	2023	—	8.3%	1.10x	0.01x
Covenant Apartment Fund X	Covenant Apartment	real estate equity	2020	—	8.3%	1.42x	0.41x
CVI Credit Value Fund A II	CVI	distressed debt	2012	—	8.3%	1.43x	1.42x
CVI Credit Value Fund III A LP	CVI	direct lending	2015	—	8.3%	1.38x	1.18x
CVI Credit Value Fund V	CVI	distressed debt	2020	—	8.3%	1.26x	0.46x
Genstar Capital Partners IV, L.P.	Genstar	multi strategy	2004	—	8.3%	1.51x	1.51x
Ifm Usidf Offshore B Feeder	IFM USIDF (Offshore) B Feeder	direct lending	2018	—	8.3%	1.08x	0.51x
SBAF Mortgage Fund	SBAF Mortgage	real estate debt	2006	—	8.3%	1.22x	1.07x
TowerBrook III	TowerBrook	buyout	2008	—	8.3%	1.29x	1.29x
WHEELOCK STREET REAL ESTATE FUND V LP	Wheelock Street	real estate equity	2017	—	8.3%	1.31x	1.02x
AACP China Debt Investors, LP	Asia Alternatives Management	buyout	2008	—	8.3%	1.27x	1.27x
GGV IV	Notable Capital	venture capital	2011	—	8.3%	1.73x	1.68x
Paul Capital Partners VIII-B	Paul Capital Partners	buyout	2004	—	8.3%	1.36x	1.35x
Water Street Capital Partners, LP	Water Street Healthcare	buyout	2005	—	8.3%	1.47x	0.86x
GGV Capital IV, L.P.	Notable Capital	venture capital	2012	—	8.3%	1.70x	1.66x
H.I.G Whitehorse Trinity, L.P.	H.I.G. Capital	growth equity	—	—	8.3%	1.48x	0.76x
CGW Southeast Partners IV	CGW Southeast Partners	buyout	1999	—	8.3%	1.54x	1.54x
Avenue Special Situations Fund IV, L.P.	Avenue	special situations	2006	—	8.3%	1.38x	1.38x
M/C Venture Partners V, L.P.	Mc Credit	venture capital	2000	—	8.3%	1.61x	1.61x
OSP Value Fund III, L.P.	Oak Street Real Estate Capital	buyout	2020	—	8.3%	1.20x	0.30x
Altaris Health Partners V	Altaris	buyout	2020	—	8.3%	1.23x	0.02x
SSG Capital Partners III, L.P.	SSG	buyout	2014	—	8.3%	1.26x	1.24x
Blue Owl Technology Finance Corp	Blue Owl Capital	direct lending	2018	—	8.3%	—	—
GSO Foreland Resources Co-Invest LP	The Blackstone Group	infrastructure	2012	—	8.2%	1.32x	1.32x
Ventech Partners, L.P.	Ventech	venture capital	1983	—	8.2%	1.50x	1.48x
The Varde Private Debt Opportunities Fund (Onshore), L.P.	The Varde	multi strategy	—	—	8.2%	1.61x	1.27x
PSG Encore L.P.	PSG Equity	co investment	2022	—	8.2%	1.12x	0.02x
NM Pacific, L.P.	NM Pacific, L.P	buyout	2021	—	8.2%	1.21x	0.01x
GSO Energy Partners-C II LP	The Blackstone Group	natural resources	2016	—	8.2%	1.30x	1.27x
Horsley Bridge International IV, L.P.	HORSLEY BRIDGE VENTURE	venture capital	2006	—	8.2%	1.85x	1.84x
Starwood XI	Starwood Capital Group	real estate equity	2016	—	8.2%	1.33x	0.36x
Apollo Accord Fund V LP	Apollo	direct lending	2022	—	8.2%	1.05x	0.98x
TPG Opportunities Partners III, L.P.	TPG	multi strategy	2014	—	8.2%	1.21x	1.10x
Milestone Partners IV, L.P.	Milestone	buyout	2011	—	8.2%	1.42x	1.26x
H.I.G. Bayside Loan Ops Fund III (Europe) PE	H.I.G. Capital	growth equity	2012	—	8.2%	1.34x	1.09x
Permira IV L.P.2	Permira	buyout	2006	—	8.2%	1.58x	1.41x
Carlyle Asia Partners II, L.P.	Carlyle Group	buyout	2006	—	8.2%	1.53x	1.53x
Lone Star Real Estate Fund III	Lone Star Japan Acquisitions	real estate equity	2013	—	8.2%	1.10x	1.13x
BC Partners Fund XI	BC Partners	buyout	2020	—	8.2%	1.18x	0.00x
Carpenter Community BancFund-A	Carpenter Community BancFund-A	buyout	2008	—	8.2%	1.69x	1.69x
Ngp Royalty Partners II	Ngp	specialty finance	2022	—	8.2%	1.08x	0.09x
OAKTREE OPPORTUNITIES FUND VIIIB LP	Oaktree	special situations	2011	—	8.2%	1.68x	1.64x
Walton Street Real Estate Fund VII	Walton St	real estate equity	2012	—	8.2%	1.34x	1.28x
Atalaya Special Opportunities Fund VII LP	Atalaya Capital	special situations	2018	—	8.2%	1.24x	0.75x
Baring Asia Private Equity Fund V	Baring Private Equity Asia	buyout	2010	—	8.2%	1.63x	1.59x
Blackstone Capital Partners Sub-Fund V	The Blackstone Group	buyout	2005	—	8.2%	1.68x	1.40x
Golden State Investment Fund, LLC	Golden State	buyout	2006	—	8.2%	1.55x	1.39x
Honeydew Co-Invest, L.P.	Honeydew Co-Invest, L.P	co investment	2020	—	8.2%	1.36x	—
HSBC Private Equity Fund II	HSBC	buyout	1997	—	8.2%	1.33x	1.33x
Merced Partners V	Merced Capital	buyout	2017	—	8.2%	1.62x	1.44x
Pathway Private Equity Fund III-Co Series D	Pathway Capital Management	co investment	2021	—	8.2%	1.27x	0.08x
Riverside Capital Appreciation Fund 2008, L.P.	The Riverside Company	buyout	2003	—	8.2%	1.32x	1.32x
SSG III	SSG Capital Management	buyout	2014	—	8.2%	1.22x	1.21x
BC European Capital XI, L.P.	BC Partners	buyout	2020	—	8.2%	1.18x	0.10x
Tennenbaum Energy Opportunities, L.P.	BlackRock	distressed debt	2016	—	8.2%	—	3.33x
Westbrook Real Estate Fund III, L.P.	Westbrook Partners	real estate equity	1998	—	8.2%	1.34x	1.34x
Gemspring Capital Fund III, LP	Gem Realty	real estate equity	2023	—	8.2%	1.09x	0.02x
Revelstoke Single Asset Fund I, L.P.	Revelstoke Capital Partners	buyout	2019	—	8.2%	1.50x	0.00x
Lexington Capital Partners II, L.P.	Lexington Partners	secondaries	1998	—	8.2%	1.30x	1.30x
Oaktree Opportunities Fund VIII-B, L.P.	Oaktree	special situations	2011	—	8.2%	1.70x	1.64x
Clearstone Venture Partners III-A, L.P	Clearstone Venture Partners	venture capital	2004	—	8.2%	2.79x	2.07x
Walton Street Real Estate Fund VII-Q, L.P.	Walton St	real estate equity	—	—	8.2%	1.55x	1.50x

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).