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
Technology Impact Growth Fund PE	Technology Impact	growth equity	2018	—	33.8%	1.52x	0.44x
OceanSound SMX Continuation Fund	OceanSound Partners	buyout	2024	—	33.8%	1.40x	0.00x
Silicon Valley Bank SIF VII, L.P.	Silicon Valley Bank	buyout	2009	—	33.8%	4.08x	0.53x
Pantheon Credit Opportunities III	Pantheon Ventures	multi strategy	2024	—	33.8%	1.60x	0.16x
USV 2019	Union Square Ventures (USV)	venture capital	2018	—	33.7%	2.97x	1.36x
Atlas Capital Resources III LP	Atlas Capital	direct lending	2019	—	33.7%	1.89x	1.17x
Thoma Bravo Special Opportunities Fund LP	Thoma Bravo	buyout	2013	—	33.7%	3.90x	3.26x
H&F Samson Hockey 1, LP (Hub)	Hellman & Friedman	co investment	2020	—	33.7%	2.66x	1.00x
Thoma Bravo Special Opportunities Fund I LP	Thoma Bravo	buyout	2013	—	33.6%	3.98x	3.98x
Updata Partners VII, L.P.	Updata Partners	buyout	2022	—	33.6%	1.64x	0.40x
Sequoia Capital US Venture XVI	Sequoia Capital	venture capital	2018	—	33.5%	4.55x	0.00x
Summit Partners Venture Capital Fund IV A L.P.	Summit Partners	venture capital	2015	—	33.5%	2.72x	1.28x
Summit Venture Capital IV	Summit Partners	venture capital	2015	—	33.5%	2.55x	1.25x
Joseph, Littlejohn & Levy Fund	Littlejohn	buyout	1991	—	33.4%	2.60x	2.61x
PSC Accelerator II	Pollen Street Capital	venture capital	2023	—	33.4%	1.53x	0.03x
Crestview III	Crestview Partners	buyout	2013	—	33.4%	—	—
DFJ Growth 2013	DFJ Venture Partners	growth equity	2013	—	33.3%	6.54x	4.81x
Nordic Capital Fund IV, L.P.	Nordic Capital	buyout	2000	—	33.2%	2.80x	2.82x
Welsh, Carson, Anderson & Stowe V	Welsh, Carson, Anderson & Stowe	buyout	1989	—	33.1%	3.51x	3.51x
Silicon Valley Bank SIF V-A Opportunity, L.P.	Silicon Valley Bank	buyout	2002	—	33.1%	7.56x	2.16x
Samson Hockey 1	Samson	tactical	2020	—	33.1%	2.22x	2.22x
Providence Strategic Growth II	Providence	growth equity	2016	—	33.0%	2.70x	2.13x
Menlo Special Opportunities Fund II, L.P.	Menlo	special situations	2019	—	32.9%	1.60x	0.06x
FirstMark Capital I, L.P. (fka FirstMark IV)	FirstMark Capital	buyout	2005	—	32.9%	9.02x	0.07x
FirstMark Capital L.P. (fka FirstMark IV)	FirstMark Capital	buyout	2005	—	32.9%	9.02x	0.07x
Project Dime	—	buyout	2022	—	32.9%	2.18x	0.35x
Clearlake Capital Partners V, L.P.	Clearlake Capital Group	buyout	2017	—	32.9%	2.01x	1.39x
Siguler Guff Secondary Opportunities Fund, L.P.	Siguler Guff	multi strategy	2015	—	32.8%	1.23x	1.23x
TrueBridge Capital FSA LLC	TrueBridge Capital Partners	fund of funds	2015	—	32.8%	4.48x	1.46x
Accel-KKR Structured Capital Partners II, LP	Accel-KKR	buyout	2001	—	32.8%	2.36x	1.53x
Blue Owl GP Stakes IV	Blue Owl Capital	growth equity	2018	—	32.8%	2.02x	1.19x
WPGG 14 Co-Invest-N	Warburg Pincus	co investment	2022	—	32.6%	1.51x	0.09x
Warburg Pincus Global Growth XIV Co-Invest	Warburg Pincus	growth equity	2022	—	32.6%	1.51x	0.00x
H.I.G. Capital Partners IV	H.I.G. Capital	growth equity	2009	—	32.6%	2.21x	2.16x
Code, Hennessy & Simmons II, L.P.	Code, Hennessy & Simmons	buyout	1994	—	32.6%	3.50x	3.49x
SDC Digital Infrastructure Opportunity Fund II, L.P.	SDC Capital Partners	multi strategy	—	—	32.3%	2.66x	0.44x
Menlo Evergreen V, L.P.	Menlo	buyout	1988	—	32.1%	3.60x	3.61x
Lightspeed Venture Partners VIII	Lightspeed Venture Partners	venture capital	2008	—	32.1%	1.68x	1.68x
GSO Energy Select Opportunities Feeder Fund II L.P.	The Blackstone Group	natural resources	2006	—	32.1%	1.31x	0.47x
Stonepeak Infrastructure Fund II, L.P.	Stonepeak	infrastructure	2016	—	32.1%	1.20x	0.15x
Pappas Life Science Ventures IV, L.P.	Pappas Life Science Ventures	venture capital	2009	—	32.1%	2.28x	2.25x
Sequoia Private Equity Fund	Sequoia Capital	growth equity	2012	—	32.0%	2.25x	1.42x
FSBA AAM Strategic Fund I LP	FSBA AAM Strategic	buyout	2021	—	32.0%	1.67x	0.38x
Lone Star Fund III (U.S.), L.P.	Lone Star Japan Acquisitions	buyout	2000	—	31.9%	2.10x	2.05x
Cinven Third Fund	Cinven	buyout	2002	—	31.9%	2.10x	2.07x
Cressey & Company Overage Fund VI LP	Cressey & Company	buyout	2018	—	31.9%	2.34x	0.79x
Oak Hill Capital Partners IV Onshore LP	Oak Hill Capital	buyout	2016	—	31.9%	2.00x	2.00x
Austin Ventures V, LP	Austin	venture capital	1997	—	31.9%	2.00x	1.98x
Northlane Capital Partners II LP	Northlane Capital Partners	buyout	—	—	31.8%	3.46x	2.62x
OrbiMed Private Investments IV	OrbiMed	venture capital	2009	—	31.8%	2.73x	2.72x
Thoma Bravo Fund XI PE	Thoma Bravo	buyout	2014	—	31.8%	3.03x	1.71x
AUA II	AUA	tactical	2019	—	31.8%	2.01x	0.99x
Energy Spectrum Partners V, L.P.	Energy Spectrum Capital	natural resources	2007	—	31.8%	—	1.86x
Asl - Sof IV	Asl	tactical	—	—	31.8%	—	—
DS Opportunities (C) LP	—	multi strategy	2021	—	31.7%	1.79x	0.00x
Wynnchurch Capital Partners IV PE	Wynnchurch	buyout	2014	—	31.7%	2.27x	0.33x
One Rock Capital Partners, L.P.	CEDAR ROCK	buyout	2012	—	31.6%	2.05x	2.06x
Reverence Capital Partners Opportunities Fund II (Parallel)	Reverence Capital Partners	multi strategy	2019	—	31.6%	3.20x	0.82x
Fisher Lynch Co-Investment Fund V, LP.	Fisher Lynch Capital	co investment	2024	—	31.6%	1.40x	0.00x
Level Equity Growth Partners IV, L.P.	Level Equity	growth equity	2018	—	31.5%	2.47x	0.81x
NYCBERS 2015 Emerging Manager Program	NYCBERS 2015 Emerging Manager Program	buyout	2015	—	31.5%	1.77x	0.19x
The Resolute Fund IV, L.P.	Resolute	buyout	2018	—	31.4%	2.62x	1.58x
Invesco Opps III	Invesco	tactical	2018	—	31.4%	2.16x	1.58x
Nordic Capital Fund III, L.P.	Nordic Capital	buyout	1998	—	31.3%	3.60x	3.57x
Bregal Sagemount II	Bregal Sagemount	growth equity	2017	—	31.3%	2.05x	1.85x
Golder, Thoma, Cressey Fund III	Golder, Thoma, Cressey, Rauner	buyout	1987	—	31.3%	5.59x	5.58x
TSSP Capital Solutions	TSSP	buyout	2019	—	31.3%	1.50x	0.09x
Avista Capital Partners IV, L.P.	Avista	buyout	2018	—	31.2%	1.20x	0.44x
DN Capital – Global Venture Capital III L.P.	DN CAP GLBL	venture capital	2012	—	31.1%	3.10x	2.93x
Reverence Capital Partners Opportunities Fund V (FOO) (PE Fund III)	Reverence Capital Partners	multi strategy	2021	—	31.1%	1.67x	0.04x
Reverence III Side Car	Reverence Capital Partners	co investment	2021	—	31.1%	1.67x	—
First Reserve Fund X, L.P.	First Reserve Corporation	natural resources	2004	—	31.1%	1.80x	1.83x
TrueBridge Special Purpose II (F)	TrueBridge Capital Partners	venture capital	2004	—	31.0%	4.89x	1.17x
GOF II Feeder B	GOF	buyout	2005	—	31.0%	1.48x	0.00x
Battery Ventures XII Side Fund	Battery Ventures	venture capital	2018	—	30.9%	3.44x	2.42x
Institutional Venture Partners XVIII	IVP (Institutional Venture Partners)	venture capital	2024	—	30.9%	1.14x	—
Golder, Thoma, Cressey & Rauner Fund III	Golder, Thoma, Cressey, Rauner	buyout	1987	—	30.9%	5.58x	5.58x
HarbourView Royalties Fund I	HarbourView Royalties	direct lending	2023	—	30.9%	1.39x	0.03x
Cortec Group Fund V LP	Cortec Group	buyout	2011	—	30.9%	4.35x	4.35x
Vista Equity Partners IV	Vista Equity Partners	buyout	2020	—	30.8%	—	—
Permira Strategic Opportunities I	Permira	multi strategy	2024	—	30.8%	1.14x	0.04x
Searchlight Capital Partners IV, L.P.	Searchlight Capital Partners	buyout	2024	—	30.8%	1.20x	0.00x
Secondary Investment SPV-1 L.P.	Secondary	secondaries	2012	—	30.7%	—	1.72x
Spectrum Equity VIII L.P.	Spectrum Equity	venture capital	2018	—	30.6%	2.48x	1.52x
New Enterprises Associates VIII, L.P.	New Enterprise Associates (NEA)	venture capital	1998	—	30.6%	1.66x	1.64x
Golder, Thoma, Cressey & Rauner Fund	Golder, Thoma, Cressey, Rauner	buyout	1980	—	30.5%	11.87x	11.87x
Silver Lake III SL SPV-2, L.P.	Silver Lake Partners	buyout	2019	—	30.5%	2.30x	1.68x
Clayton, Dubilier & Rice Fund X, L.P.	Clayton Dubilier & Rice	buyout	2018	—	30.4%	2.27x	1.51x
GTCR Fund XI, L.P.	GTCR	buyout	2014	—	30.3%	3.00x	2.46x
Mill Point Capital Partners II	Mill Point Capital	buyout	2021	—	30.3%	1.52x	0.58x
Exeter Industrial Value Fund III	Exeter Property Group	real estate equity	2014	—	30.3%	2.15x	2.13x
ERA Infra I Coinvest LP	ERA Infra	infrastructure	—	—	30.2%	1.93x	0.83x
Ares Corporate Opportunities Fund VI Co-Invest	Ares	buyout	2021	—	30.2%	1.83x	1.83x
Lone Star Fund IV (U.S.), L.P.	Lone Star Japan Acquisitions	buyout	2001	—	30.2%	2.30x	2.30x
GTCR XI	GTCR	growth equity	2013	—	30.2%	3.04x	2.84x
Flexpoint Ford Fund II, L.P.	Flexpoint Ford	buyout	2008	—	30.2%	1.68x	1.29x
Ares Private Opportunities (NYC), L.P.	Ares	multi strategy	2021	—	30.2%	1.83x	1.83x
Aquiline Financial Services Fund III	Aquiline Oregon Co‐	buyout	2015	—	30.1%	2.31x	2.13x
OAKTREE POWER OPPORTUNITIES FUND VI LP	Oaktree	infrastructure	2021	—	29.9%	2.41x	1.48x
Warburg Pincus International Partners, L.P. - WSIB Secondary	Warburg Pincus	secondaries	2005	—	29.9%	2.60x	2.64x

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).