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
RREEF America REIT III	Rreef	real estate equity	2004	—	3.0%	1.15x	1.15x
Torchlight Debt Fund Vll, LP	Torchlight Debt	real estate debt	2001	—	3.0%	1.02x	0.17x
Project Alpine Co-Invest Fund	Project Alpine Co-Invest	co investment	2022	—	3.0%	1.10x	—
Providence Equity Partners V	Providence	buyout	2004	—	3.0%	1.17x	1.17x
Wicks Communications & Media Partners III, L.P	Wicks	buyout	2003	—	3.0%	1.14x	1.14x
NMERB Sierra Blanca Fund, L.P.	NMERB Sierra Blanca	buyout	2020	—	3.0%	1.09x	0.09x
Weston Presidio Capital IV	Weston Presidio	secondaries	2000	—	3.0%	1.18x	1.18x
Oberland Capital Healthcare III LP	Oberland Capital	co investment	—	—	2.9%	1.11x	0.19x
Menlo Ventures XV, L.P.	Menlo	venture capital	2020	—	2.9%	1.10x	—
Altaris V-4042, L.P.	Altaris	buyout	—	—	2.9%	1.07x	—
Quintana Energy I Co-Investment	QUINTANA RESOURCES HOLDINGS LP	co investment	2007	—	2.9%	1.63x	1.63x
Essex Woodlands Health Ventures Fund V	Essex Woodlands Healthcare Partners	venture capital	2000	—	2.9%	1.10x	1.07x
RMK Emerging Growth Timberland Fund	RMK Timberland Group	natural resources	1993	—	2.9%	—	—
TPG Biotechnology Partners II, L.P.	TPG	buyout	2006	—	2.9%	1.21x	1.21x
Covenant Apartment Fund V (Institutional), L.P.	Covenant Apartment	real estate equity	2007	—	2.9%	1.20x	1.20x
Euro Choice III (fka LODH Private Equity - Euro Choice III)	Euro Choice	buyout	2006	—	2.9%	1.16x	1.16x
Euro Choice III L.P.	Euro Choice	buyout	2006	—	2.9%	1.16x	1.16x
Essex Woodlands Health Ventures Fund VI	Essex Woodlands Healthcare Partners	venture capital	2004	—	2.9%	1.28x	1.28x
Euro Choice III	Euro Choice	buyout	2006	—	2.9%	1.16x	1.12x
Northern Global Real Estate Index Fund Global	—	real estate equity	2013	—	2.9%	1.09x	0.65x
Kohlberg Investors V LP	Kohlberg Investors	buyout	2004	—	2.9%	1.19x	1.19x
AG Capital Recovery Partners V, L.P.	Angelo Gordon	real estate equity	2005	—	2.9%	1.13x	1.13x
RLJ Lodging Fund I, L.P. (Closed)	RLJ	real estate equity	2004	—	2.9%	1.00x	—
2E Select Credit Offshore Fund	2E Capital Partners	private credit	2025	—	2.9%	1.03x	0.00x
InstarAGF Essential Infrastructure II (USP-USD) LP	InstarAGF Asset Management	infrastructure	—	—	2.9%	1.15x	0.04x
Kleiner Perkins Caufield & Byers VIII	Kleiner Perkins	private equity	1996	—	2.9%	17.00x	16.50x
Kleiner Perkins Caufield & Byers Vlll	Kleiner Perkins	private equity	1996	—	2.9%	17.00x	16.50x
Boston Ventures VII, L.P.	Boston Ventures Management	venture capital	2007	—	2.8%	1.20x	1.20x
2E Select Credit Master Fund	2E Capital Partners	private credit	2025	—	2.8%	1.03x	0.00x
Actis Global 4, L.P.	Actis	buyout	2012	—	2.8%	1.10x	0.90x
AEW Essential Housing Fund	AEW	real estate equity	2023	—	2.8%	1.06x	0.06x
Homestead Capital Farmland II	Homestead	natural resources	2016	—	2.8%	1.17x	0.22x
Irving Place Capital Partners III	Irving Place	buyout	2006	—	2.8%	1.15x	1.15x
Boston Ventures V, L.P.	Boston Ventures Management	venture capital	1996	—	2.8%	1.10x	1.13x
Capital Spring Investment Partners	Capitalspring Investment	direct lending	2016	—	2.8%	1.00x	0.00x
NYC Asset Investor #2	NYC Asset Investor #	real estate equity	2013	—	2.8%	1.15x	0.42x
Partners Group Real Estate Secondary 2017 (USD) A, L.P.	Partners Group	real estate equity	2017	—	2.8%	1.17x	0.06x
EIG Energy XVI, L.P.	EIG Global Energy Partners	natural resources	2013	—	2.8%	1.15x	0.74x
ASP 2015 Direct Fund	—	private equity	2015	—	2.8%	1.21x	0.25x
Jp Morgan Asian Infrastructure	—	infrastructure	—	—	2.7%	1.17x	0.47x
Sinovation Fund IV, L.P.	Sinovation Ventures	venture capital	2018	—	2.7%	1.14x	0.00x
KKR Real Estate Partners Americas III	Kohlberg Kravis Roberts	real estate equity	2021	—	2.7%	1.07x	0.15x
ClearVue OPERF	ClearVue Partners	buyout	2019	—	2.7%	1.13x	0.03x
ACON Equity Partners 3.5	Acon Investments	buyout	2012	—	2.7%	1.13x	1.11x
Westbrook Real Estate Fund IX	Westbrook Partners	real estate equity	2014	—	2.7%	1.07x	0.98x
Aberdare Ventures III, LP	Aberdare Ventures	venture capital	2005	—	2.7%	1.17x	0.98x
Avenue Special Situations Fund VI (A), L.P.	Avenue	special situations	2011	—	2.7%	1.13x	1.01x
Liberty Partners Pool V	Liberty	buyout	1999	—	2.7%	1.14x	1.14x
Triumph Conn Ltd Partnership	Triumph	buyout	1993	—	2.7%	1.10x	1.10x
(DBAG) European Private Equity Opportunities LP	Deutsche Beteiligungs AG	multi strategy	2017	—	2.7%	1.07x	0.24x
General Atlantic Investment Partners 2021, L.P.	General Atlantic	buyout	2021	—	2.7%	—	—
One Rock Capital Partners II, LP	One Rock Capital Partners	buyout	2017	—	2.7%	1.26x	0.54x
H.I.G. Strategic Partners Fund II, L.P. OPPM	H.I.G. Capital	growth equity	—	—	2.7%	1.15x	0.29x
H.I.G. Strategic Partners Fund II, L.P. PD	H.I.G. Capital	growth equity	—	—	2.7%	1.15x	0.29x
BR World REIT	—	real estate equity	2016	—	2.7%	1.12x	—
Aurora Ventures V, LLC	Aurora	venture capital	2005	—	2.6%	1.20x	1.20x
Cypress Merchant Banking Partners, LP	Cypress Realty	buyout	1995	—	2.6%	1.20x	1.21x
AACP China Venture Investors A, LP	Acp	venture capital	2008	—	2.6%	1.20x	1.20x
Snow Phipps II	Snow Phipps	buyout	2010	—	2.6%	1.10x	1.10x
Snow Phipps II, L.P.	Snow Phipps	buyout	2010	—	2.6%	1.10x	1.10x
Asia Pacific Trust	Asia Pacific Trust	buyout	1990	—	2.6%	1.18x	1.18x
BankCap Partners Fund I	BankCap Partners	buyout	2007	—	2.6%	1.30x	1.25x
Lion Properties Fund	Clarion Partners	real estate equity	2019	—	2.6%	1.10x	—
Vestar Capital Partners III, L.P.	Vestar Capital Partners	buyout	1997	—	2.6%	1.14x	1.14x
WestCap Strategic Operator Fund II	WestCap	buyout	2021	—	2.6%	1.10x	0.02x
Water Strc't. Healthcare Partners II, L.P.	Water Street Healthcare Partners	private equity	2008	—	2.6%	—	1.13x
CIGNA Realty Investors Open-End Fund	CIGNA Realty Investors	real estate equity	1987	—	2.6%	1.16x	1.16x
Summit Partners Credit Fund B-2, L.P.	Summit Partners	mezzanine	2014	—	2.5%	1.08x	0.92x
TA Select Opps Fund II A, L.P.	TA Select Opps	buyout	2021	—	2.5%	1.05x	—
Blue Run Ventures V, LP	BlueRun Ventures	venture capital	2014	—	2.5%	1.23x	0.37x
Sherpa Healthcare Fund II	Sherpa Healthcare Partners	buyout	2021	—	2.5%	1.08x	0.10x
Carlyle Infrastructure Partners	Carlyle Group	infrastructure	2007	—	2.5%	1.13x	1.12x
Avenue Europe Special Situations Fund III (U.S.), L.P.	Avenue	special situations	2015	—	2.5%	1.14x	0.91x
Clayton, Dubilier & Rice Fund VII	Clayton Dubilier & Rice	buyout	2005	—	2.5%	1.12x	1.12x
Cross Atlantic Technology Fund, L.P.	Cross Atlantic Capital Partners	venture capital	1999	—	2.5%	1.20x	1.19x
JP Morgan Infrastructure Investments Fund	J.P. Morgan Asset Management	infrastructure	2007	—	2.5%	1.20x	1.20x
Kayne Anderson Energy Fund IV	Kayne Anderson Capital Advisors	natural resources	2007	—	2.5%	1.10x	1.00x
PAAMCO - Newport Burgundy	Pacific Alternative Asset Management Company	direct lending	2010	—	2.5%	1.20x	0.71x
Pharos II-A	Pharos Capital Group	buyout	2005	—	2.5%	1.27x	0.64x
Charl.,..hank Equity Fund VII, L.P.	Charlesbank Capital Partners	private equity	2009	—	2.4%	—	1.02x
Owl Rock First Lien II	Owl Rock Capital	direct lending	2021	—	2.4%	—	—
ARCH VENTURE FUND VI LP	ARCH Venture Partners	venture capital	2003	—	2.4%	1.24x	1.24x
Sankaty Credit Opportunities III, LP	Sankaty	multi strategy	2007	—	2.4%	1.18x	1.18x
Adams Street 2015 Direct Venture/Growth Fund	Adams Street Partners	growth equity	2014	—	2.4%	1.20x	0.26x
Quaker BioVentures II, L.P.	Quaker BioVentures	venture capital	2007	—	2.4%	1.12x	1.11x
AG Core Plus Realty Fund IV	Angelo Gordon	real estate equity	2014	—	2.4%	1.12x	0.86x
Bridgepoint Europe III 'D' LP	Bridgepoint	co investment	2005	—	2.4%	1.22x	1.19x
Homestead Capital Farmland II NR	Homestead	natural resources	2016	—	2.4%	1.06x	0.15x
Mesirow Partnerships I	Mesirow	tactical	1999	—	2.4%	1.17x	1.17x
King Street Capital	King Street Capital Management	direct lending	2011	—	2.4%	0.04x	—
Bridgepoint Europe III, L.P.	Bridgepoint	buyout	2005	—	2.4%	1.20x	1.19x
Insight Partners Fund XII, L.P.	Insight Partners	growth equity	2021	—	2.4%	1.07x	0.00x
New Enterprise Associates 10, L.P.	New Enterprise Associates (NEA)	venture capital	2000	—	2.3%	1.20x	1.13x
ACON Equity Partners III, L.P.	Acon Investments	buyout	2012	—	2.3%	1.09x	—
AEW Camel Square	AEW	buyout	2002	—	2.3%	1.30x	1.32x
EIG Energy Fund XVI	EIG Global Energy Partners	natural resources	2013	—	2.3%	1.12x	0.77x
GGV Discovery I	GGV Discovery	venture capital	2016	—	2.3%	1.18x	0.07x
Merced Partners IV	Merced Capital	buyout	2013	—	2.3%	1.12x	1.09x
Eureka IV	Eureka	buyout	2019	—	2.3%	1.06x	0.13x
Clayton, Dubilier & Rice Fund V, L.P.	Clayton Dubilier & Rice	buyout	1995	—	2.3%	1.20x	1.17x

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).