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
Crv Select Fund II LP	Crv Select	venture capital	2022	—	-1.1%	0.98x	0.00x
INCLINE ELEVATE FUND II LP	Incline	growth equity	2022	—	-1.1%	0.98x	—
KKR Asian Fund II LP	Kohlberg Kravis Roberts	buyout	2013	—	-1.1%	1.00x	0.82x
RSTW Partners III, LP	Rstw	buyout	1997	—	-1.2%	0.90x	0.94x
Signal Peak II, L.P.	Signal Peak Ventures	buyout	2014	—	-1.2%	0.90x	0.00x
Calera Capital Partners III	Calera Capital	buyout	2003	—	-1.2%	0.95x	0.95x
Cypress Merchant Banking Partners II	Cypress Merchant Banking	buyout	1999	—	-1.2%	0.94x	0.94x
Cypress Merchant Banking Partners II, LP	Cypress Realty	buyout	1999	—	-1.2%	0.94x	0.94x
Spectrum IX-A Discretionary Overage Progam II	Spectrum Equity	venture capital	2021	—	-1.2%	0.96x	0.05x
Alta Communications IX, L.P.	Alta Communications	buyout	2003	—	-1.2%	0.90x	0.90x
Kayne Anderson Energy Fund VII, L.P.	Kayne Anderson Capital Advisors	natural resources	2017	—	-1.3%	—	0.92x
Lubert-Adler Real Estate Fund VII, L.P.	Lubert-Adler	real estate equity	—	—	-1.3%	0.96x	0.68x
Calera Capital	Calera Capital	buyout	2000	—	-1.3%	0.95x	0.33x
Yucaipa Corporate Initiatives Fund II, LP	The Yucaipa Companies	buyout	2008	—	-1.3%	0.91x	0.89x
CAPMAN NORDIC RE III FCP RAIF	CapMan	real estate equity	2021	—	-1.3%	0.97x	0.02x
TI IV R1 CF Exit, L.P.	Ti Platform	buyout	2024	—	-1.3%	1.00x	—
Morgan Stanley - Private Equity	Morgan Stanley	buyout	1997	—	-1.3%	—	—
Galen Partners III, LP	Galen Partners	venture capital	1997	—	-1.4%	0.89x	0.89x
Pegasus Partners V, L.P.	General Atlantic	buyout	2011	—	-1.4%	0.95x	0.95x
Pegasus Partners V	PEGASUS CAPITAL	buyout	2011	—	-1.4%	0.95x	0.95x
Carlyle Asia Growth Partners III, L.P.	Carlyle Group	growth equity	2005	—	-1.4%	0.92x	0.92x
Lone Star Fund V (U.S.), L.P.	Lone Star Japan Acquisitions	buyout	2008	—	-1.4%	0.90x	0.93x
Oaktree Special Situations Fund, L.P.	Oaktree	special situations	2014	—	-1.4%	0.92x	0.39x
Stonington Capital Appreciation 1994 Fund	Stonington	growth equity	1994	—	-1.4%	0.88x	0.88x
Domain Partners VII, L.P.	Domain Partners	private equity	2006	—	-1.4%	0.95x	0.95x
Yucaipa Corporate Initiatives Fund II	The Yucaipa Companies	buyout	2008	—	-1.4%	0.90x	0.90x
Blackstone Property Partners Life Sciences L.P.	The Blackstone Group	real estate equity	2020	—	-1.5%	0.95x	0.08x
Opus Capital Venture Partners V	Opus Capital	venture capital	2006	—	-1.5%	0.89x	0.89x
AACP India Investors C	Asia Alternatives Management	buyout	2009	—	-1.5%	0.89x	0.45x
California Community Venture Fund, LLC	California Community	venture capital	2003	—	-1.5%	0.91x	0.88x
Paul Capital Partners IX LP	Paul Capital Partners	buyout	2006	—	-1.5%	1.01x	0.99x
Constitution Fund V, LLC Series F	Constitution	buyout	2022	—	-1.5%	1.00x	0.00x
Sherpa Healthcare Co-Investment Fund	Sherpa Healthcare Partners	co investment	2020	—	-1.6%	0.94x	0.00x
PAG Loan Fund IV LP	PAG	direct lending	2019	—	-1.6%	0.97x	0.42x
IK Fund X	IK Small Cap	buyout	2022	—	-1.6%	0.99x	0.00x
NovaQuest Pharma Opportunities Fund V, L.P.	NovaQuest Pharma	multi strategy	2007	—	-1.6%	0.96x	0.20x
Orchid Asia VII	Orchid Asia	buyout	2017	—	-1.6%	0.93x	0.25x
Paul Capital Top Tier Special Opportunities Fund, L.P.	Paul Capital Partners	special situations	2004	—	-1.6%	0.88x	0.67x
Pramerica Real Estate Capital VI, L.P.	PGIM Real Estate	real estate equity	2015	—	-1.6%	0.96x	0.78x
Wind Point Partners VI	Wind Point Partners	buyout	2005	—	-1.6%	0.95x	0.95x
Italian Private Equity Fund IV, LP	Italian Private	buyout	2003	—	-1.6%	0.91x	0.91x
Leapfrog Ventures II, L.P.	Leapfrog	venture capital	2005	—	-1.6%	0.90x	0.79x
Phoenix Partners, L.P.	Phoenix	buyout	1982	—	-1.6%	0.90x	0.89x
SK Capital Partners Fund V, L.P.	SK Capital Partners	buyout	2018	—	-1.7%	1.00x	0.00x
EnerVest Energy Institutional Fund XI-B, LP	EnerVest	natural resources	2007	—	-1.7%	0.98x	0.98x
Base10 Partners III, L.P.	Base10 Partners	venture capital	2022	—	-1.7%	0.97x	0.00x
JZI Fund III L.P.	JZI	private equity	2015	—	-1.7%	0.93x	0.52x
Column Group IV	The Column Group	venture capital	2019	—	-1.8%	0.95x	0.07x
Constellation Venture Capital III	Constellation	venture capital	2007	—	-1.8%	0.87x	0.87x
Constellation Venture Capital III, L.P.	Constellation	venture capital	2007	—	-1.8%	0.87x	0.87x
Hicks Muse Tate Furst III LP	Hicks Muse Tate Furst	buyout	1996	—	-1.8%	0.89x	0.89x
Luxor Capital Partners LP	Luxor Capital Group	tactical	2014	—	-1.8%	0.29x	—
Rubenstein Properties Fund III RE	Rubenstein Partners	real estate equity	2015	—	-1.8%	0.95x	0.02x
Constellation Ventures III, L.P.	Constellation	venture capital	2007	—	-1.8%	0.87x	0.00x
BRV Opportunities Fund, L.P.	BRV	multi strategy	2015	—	-1.9%	0.89x	0.47x
Fortress Investment Fund IV, L.P.	Fortress Investment Group	co investment	2006	—	-1.9%	0.90x	0.83x
KKR Special Situations Fund PE	Kohlberg Kravis Roberts	special situations	2012	—	-1.9%	0.95x	0.78x
Princeton Capital Corp. (fka Capital Point)	Princeton	buyout	2007	—	-1.9%	0.89x	0.72x
Urban Strategy America Fund, L.P.	Urban Strategy America	real estate equity	2005	—	-1.9%	0.87x	0.87x
DFJ Frontier Fund II	DFJ Venture Partners	venture capital	2007	—	-1.9%	0.83x	0.36x
Fortress Transportation Infrastructure, LLC	Fortress Investment Group	infrastructure	2012	—	-2.0%	0.92x	0.92x
3i Growth Capital Fund LP	3i Group	growth equity	2010	—	-2.0%	0.93x	0.93x
First Reserve Energy Infrastructure Fund	First Reserve Corporation	infrastructure	2010	—	-2.0%	0.93x	0.89x
HarbourVest Int'l PEP III - Direct Fund, L.P.	HarbourVest Partners (Canada)	fund of funds	1998	—	-2.0%	0.80x	0.83x
CDK Multifamily I	Cdk Multifamily	real estate equity	2014	—	-2.0%	0.90x	0.94x
Peak XV Partners India Seed II	Peak	venture capital	2021	—	-2.0%	0.94x	0.08x
Highland Credit Ops	Highland Capital Partners	direct lending	2006	—	-2.1%	0.80x	0.85x
First Reserve Fund XIII, L.P.	First Reserve Corporation	natural resources	2014	—	-2.1%	0.91x	0.60x
Oregon Investment Fund (Series 1)	Oregon	buyout	2004	—	-2.1%	0.87x	0.87x
Kayne Anderson Energy Fund III	Kayne Anderson Capital Advisors	natural resources	2005	—	-2.1%	1.00x	0.95x
Neotribe Ventures II, L.P.	Neotribe Ventures	venture capital	2019	—	-2.1%	0.94x	0.00x
Drive Capital Fund IV	Drive Capital	venture capital	2022	—	-2.2%	0.95x	0.00x
KKR Ascendant Strategy	Kohlberg Kravis Roberts	buyout	2023	—	-2.2%	0.98x	0.01x
TRG AIRRO II	The Rohatyn Group	infrastructure	2013	—	-2.2%	0.80x	0.71x
Actis Emerging Markets 3, L.P.	Actis	buyout	2007	—	-2.2%	0.92x	0.91x
Clarion Bryan Street Lofts	Clarion Partners	real estate equity	2005	—	-2.2%	0.80x	0.81x
OVP Venture Partners VII, L.P.	OVP Venture Partners	venture capital	2006	—	-2.2%	0.79x	0.79x
Blue Water Energy Fund I-A LP	Blue	natural resources	2021	—	-2.3%	0.94x	0.44x
Pharos Capital Partners IIA, L.P.4	Pharos Capital Group	buyout	2005	—	-2.3%	0.89x	0.89x
Redpoint Ventures I, L.P.	Redpoint Ventures	venture capital	1999	—	-2.3%	0.81x	0.81x
New Enterprises Associates VIII A, L.P.	New Enterprise Associates (NEA)	venture capital	2001	—	-2.4%	0.79x	0.79x
Hicks, Muse, Tate & Furst, Inc.	Hicks Muse Tate Furst	buyout	2006	—	-2.4%	0.92x	0.92x
KKR European Fund VI (USD) SCSp	Kohlberg Kravis Roberts	buyout	2022	—	-2.4%	0.97x	0.00x
Apollo Asia Opportunity Fund, LP	Apollo	multi strategy	2007	—	-2.4%	0.89x	0.89x
Montreux Equity Partners IV	Montreux	buyout	2007	—	-2.4%	0.84x	0.84x
Montreux Equity Partners IV, L.P.	Montreux	buyout	2007	—	-2.4%	0.84x	0.84x
Pharos Capital Partners IIA, L.P.	Pharos Capital Group	buyout	2005	—	-2.4%	0.90x	0.88x
Starwood Global Opportunity Fund VII, L.P.	Starwood Capital Group	multi strategy	2005	—	-2.4%	0.80x	0.78x
GRAIN COMMUNICATIONS OPPORTUNITY FUND III LP	Grain Management	infrastructure	2021	—	-2.4%	1.00x	0.14x
Oak Investment Partners XI, L.P.	Oak Investment Partners	buyout	2004	—	-2.4%	0.80x	0.82x
Threshold Ventures IV, L.P.	Threshold Ventures	venture capital	2022	—	-2.5%	0.98x	0.00x
Eureka II	Eureka	buyout	2006	—	-2.5%	0.92x	0.92x
Carlyle Europe Real Estate Partners III	Carlyle Group	real estate equity	2007	—	-2.5%	0.88x	0.89x
Essex Woodlands Health Ventures Fund VIII	Essex Woodlands Healthcare Partners	venture capital	2008	—	-2.5%	0.86x	0.86x
Penman Private Equity and Mezzanine Fund	Penman Private	mezzanine	1994	—	-2.5%	0.89x	0.89x
U.S. Venture Partners VII, L.P.	U.S. Venture Partners	venture capital	2000	—	-2.5%	0.70x	0.70x
M2 Illinois	M2 Illinois	tactical	2003	—	-2.5%	0.88x	0.88x
CBRE U.S. Core Partners, LP	CBRE	real estate equity	2023	—	-2.6%	0.97x	0.03x
GEM REALTY FUND VII LP	Gem Realty	real estate equity	2022	—	-2.6%	0.97x	0.00x
EnCap Energy Capital Fund VIII Co-Investors, L.P.	EnCap Energy Capital	natural resources	2011	—	-2.6%	0.80x	0.47x

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).