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
| Fund | Manager | Strategy | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|---|---|
| Rockpoint Real Estate Fund V | Rockpoint | real estate equity | 2014 | — | -2.6% | 0.90x | 0.57x |
| China Vest IV | ChinaVest | venture capital | 1993 | — | -2.6% | 0.84x | 0.84x |
| Lime Rock Partners V, L.P. | Lime Rock Partners | buyout | 2008 | — | -2.6% | 0.88x | 0.75x |
| Thomas H. Lee Equity Fund IV LP | Thomas H. Lee Partners | buyout | 1998 | — | -2.6% | 0.87x | 0.87x |
| Tibbar Holdings, LLC (FKA TH Lee IV) | Tibbar Holdings, LLC (FKA TH Lee | buyout | 1998 | — | -2.6% | 0.87x | 0.87x |
| BlackChamber Real Estate Opportunity Fund II, LP | BlackChamber | multi strategy | — | — | -2.7% | 0.98x | — |
| NorthPoint Industrial Fund VII, LP | NorthPoint Development | — | — | — | -2.7% | 0.97x | — |
| Capital International Private Equity Fund V LP | Capital Group Private Markets | fund of funds | 2007 | — | -2.7% | 0.94x | 0.94x |
| Lone Star Fund XII, L.P. | Lone Star Japan Acquisitions | buyout | 2024 | — | -2.7% | 0.99x | — |
| AERMONT Real Estate Fund IV | Aermont | real estate equity | 2019 | — | -2.8% | 0.89x | 0.00x |
| Goode Partners Consumer Fund III, L.P. | Goode | private equity | 2015 | — | -2.8% | 0.87x | 0.29x |
| USV Opportunity 2019 | Union Square Ventures (USV) | tactical | 2018 | — | -2.8% | 0.88x | 0.05x |
| Austin Ventures VII, L.P. | Austin | venture capital | 1999 | — | -2.8% | 0.80x | 0.81x |
| LBA Logistics Value Fund IX, L.P. | Lba Realty | real estate equity | 2022 | — | -2.8% | 1.19x | 0.00x |
| Asia Opportunity Fund III, L.P. | CVC Capital Partners | multi strategy | 2008 | — | -2.8% | 0.90x | 0.90x |
| Wayzata Opportunities Fund III PE | Wayzata Investment Partners | multi strategy | 2012 | — | -2.8% | 0.93x | 0.60x |
| Domain Environmental Investments II, L.P. | Domain Capital Group | natural resources | 2008 | — | -2.8% | 0.80x | 0.72x |
| Aquiline Capital II | Aquiline Oregon Co‐ | buyout | — | — | -2.9% | — | — |
| KKR E2 Investors, L.P. | Kohlberg Kravis Roberts | buyout | 2009 | — | -2.9% | 0.90x | 0.91x |
| KKR E2 Investors (Euro 2 Annex Fund) | Kohlberg Kravis Roberts | buyout | 2009 | — | -2.9% | 0.91x | 0.91x |
| Blackstone Supplemental Account - M | The Blackstone Group | direct lending | 2021 | — | -2.9% | 0.93x | 0.04x |
| Catterton Growth Partners II, L.P. | L Catterton | growth equity | 2013 | — | -2.9% | 0.81x | 0.41x |
| LaSalle Income & Growth Fund VII | LaSalle | growth equity | 2015 | — | -2.9% | 0.91x | 0.73x |
| GHO Capital Virtue | GHO Capital Partners | buyout | 2022 | — | -2.9% | 0.92x | 0.00x |
| Sector Performance Fund | Sector Performance | buyout | 2007 | — | -2.9% | 2.67x | 0.90x |
| The House Fund III | House | buyout | 2021 | — | -3.0% | 0.97x | 0.00x |
| Cerberus VI Institutional Feeder | Cerberus | buyout | 2023 | — | -3.0% | 0.97x | 0.00x |
| Dlj Recp III | Dlj Recp | buyout | 2005 | — | -3.0% | 1.19x | 1.12x |
| Richland Ventures III | Richland Ventures | venture capital | 1999 | — | -3.0% | 0.85x | 0.85x |
| Alsop Louie Capital II, L.P. | Alsop Louie Capital | private equity | 2010 | — | -3.0% | 0.67x | 0.14x |
| SK Capital Partners Fund V, L.P.1 | SK Capital Partners | buyout | 2018 | — | -3.1% | 0.96x | — |
| Prairie Capital VII QP | Prairie Capital | buyout | 2021 | — | -3.1% | 0.92x | 0.08x |
| GSO Energy Partners-C LP | The Blackstone Group | natural resources | 2013 | — | -3.1% | 0.88x | 0.85x |
| McCown De Leeuw & Co. IV, L.P. | McCown De Leeuw & Co | buyout | 1998 | — | -3.1% | 0.79x | 0.79x |
| Highland Consumer Fund LP | Highland Consumer Partners | buyout | 2007 | — | -3.1% | 0.77x | 0.71x |
| Denham Commodity Partners Fund VI LP | Denham Capital | infrastructure | 2011 | — | -3.1% | 0.90x | 0.57x |
| Asper Renewable Power Partners 2 A L.P. | Asper Renewable Power | infrastructure | 2010 | — | -3.1% | 0.80x | 0.80x |
| Canvas Ventures 3 L.P. | Canvas Ventures | venture capital | 2020 | — | -3.2% | 0.92x | 0.00x |
| HongShan China Venture VIII | HongShan Capital Group | venture capital | 2020 | — | -3.2% | 0.89x | 0.00x |
| Arsenal Capital Partners VI | Arsenal | buyout | 2021 | — | -3.2% | 0.94x | 0.05x |
| Global Energy & Power Infrastructure Fund | GIP | infrastructure | 2010 | — | -3.2% | 0.90x | 0.89x |
| Yiheng Capital Partners | Yiheng Capital | buyout | 2009 | — | -3.2% | 0.04x | — |
| Beacon Capital Strategic Partners IV, L.P. | Beacon Capital | secondaries | 2006 | — | -3.3% | 0.83x | 0.83x |
| Lone Star Fund IX (U.S.), L.P. | Lone Star Japan Acquisitions | buyout | 2015 | — | -3.3% | 1.00x | 0.97x |
| DFJ Element | DFJ Venture Partners | venture capital | 2006 | — | -3.4% | 0.73x | 0.73x |
| Rice Partners II, L.P. | Rice | buyout | 1994 | — | -3.4% | 0.90x | 0.88x |
| Horsley Bridge 14 Plus 1 | HORSLEY BRIDGE VENTURE | venture capital | 2021 | — | -3.4% | — | — |
| Carlyle Europe Partners V, S.C.SP. | Carlyle Group | buyout | 2019 | — | -3.5% | 0.91x | 0.21x |
| FG Next Flatirons I, L.P. | FG Next Flatirons | venture capital | 2021 | — | -3.5% | 0.91x | — |
| GEI Jupiter Holdings J, L.P. | GEI Jupiter Holdings J. | buyout | 2025 | — | -3.5% | 1.00x | 0.07x |
| Highland Consumer Fund I | Highland Capital Partners | buyout | 2007 | — | -3.5% | 0.76x | 0.76x |
| Pegasus Partners IV, L.P. | General Atlantic | buyout | 2007 | — | -3.5% | 0.83x | 0.83x |
| Pegasus Partners IV | PEGASUS CAPITAL | buyout | 2007 | — | -3.5% | 0.83x | 0.83x |
| Fairview Capital III, L.P. | Fairview Capital Partners | buyout | 2001 | — | -3.5% | 0.80x | 0.80x |
| Cable & Howse Transition Fund, L.P. | Cable & Howse Ventures | tactical | 1983 | — | -3.5% | 0.80x | 0.81x |
| KKR Special Situations Fund | Kohlberg Kravis Roberts | special situations | 2012 | — | -3.6% | 0.90x | 0.87x |
| Cerberus FSBA Corporate Credit Fund LP | Cerberus | distressed debt | 2020 | — | -3.6% | 0.92x | 0.00x |
| Walton Street V | Walton St | real estate debt | 2006 | — | -3.6% | 0.71x | 0.69x |
| StepStone International Investors III L.P. | Stepstone Group | buyout | 2006 | — | -3.7% | 0.83x | 0.82x |
| Latin America Capital Partners II | Latin America | buyout | 1997 | — | -3.7% | 0.80x | 0.80x |
| Yucaipa American Special Situations Fund I, LP | The Yucaipa Companies | special situations | 2002 | — | -3.7% | 0.93x | 0.89x |
| Yucaipa Corporate Initiatives Fund I, L.P. | The Yucaipa Companies | buyout | 2001 | — | -3.7% | 0.78x | 0.77x |
| Equus Investment Partnership XII | — | direct lending | 2022 | — | -3.7% | — | — |
| Heitman Asia-Pacific Property Investors | Heitman | real estate equity | 2018 | — | -3.7% | 0.86x | 0.41x |
| Walton Street Real Estate Fund V, L.P. | Walton St | real estate equity | 2006 | — | -3.8% | 0.71x | 0.69x |
| Yucaipa Corporate Initiatives Fund | The Yucaipa Companies | buyout | 2003 | — | -3.8% | 0.63x | 0.61x |
| Invesco US Income Open-End Core-Plus 100.0 100.0 0.0 0.0 99.8 1.00 NM Walton Street V Open-End | Invesco | special situations | — | — | -3.8% | 0.71x | 0.69x |
| EIG Energy Fund XIV | EIG Global Energy Partners | natural resources | 2007 | — | -3.8% | 0.89x | 0.89x |
| Lime Rock Partners VI, L.P. | Lime Rock Partners | buyout | 2011 | — | -3.8% | 0.91x | 0.91x |
| Hony Capital Fund V | Hony | buyout | 2011 | — | -3.9% | 0.74x | 0.49x |
| Rubik Holdings Ltd. | Rubik | buyout | 2012 | — | -3.9% | — | — |
| BOND III, LP | BOND | direct lending | 2022 | — | -3.9% | 0.96x | 0.00x |
| Fortress Investment Fund IV, L.P. - Co-Investment | Fortress Investment Group | co investment | 2006 | — | -3.9% | 0.70x | 0.72x |
| Techstars Ventures 2022, L.P. | Techstars Ventures 2022 | venture capital | 2021 | — | -4.0% | 0.93x | — |
| CBRE Asia Value Partners 7 SCSp | CBRE | buyout | 2025 | — | -4.0% | 0.96x | 0.00x |
| Top Tier Special Opportunities Fund LP | Top Tier Capital Partners | special situations | 2009 | — | -4.0% | 0.74x | 0.74x |
| HMCapital Sector Performance Fund | Rh Capital | buyout | 2008 | — | -4.0% | 0.90x | 0.86x |
| HM Capital Sector Performance Fund | HM Capital Partners | multi strategy | 2008 | — | -4.0% | 0.90x | 0.86x |
| SilverStone II, LLC Series C (Excel Ventures I & II) | SilverStone | buyout | 2008 | — | -4.0% | 0.73x | 0.38x |
| Asper Renewable Power Partners L.P. | Asper Renewable Power | infrastructure | 2006 | — | -4.1% | 0.84x | 0.83x |
| Mill City Fund II | Mill City | buyout | 2014 | — | -4.1% | 0.77x | 0.77x |
| Riverstone Global Energy and Power Fund V, L.P. | Riverstone Global Energy and Power | natural resources | 2012 | — | -4.1% | 0.83x | 0.85x |
| Centre Capital Investors II, L.P. | Centre Lane | buyout | 1996 | — | -4.1% | 0.81x | 0.81x |
| VIP V | VIP | multi strategy | 2023 | — | -4.1% | 0.97x | 0.11x |
| St. Cloud Capital Partners II | St. Cloud Capital | buyout | 2006 | — | -4.2% | 1.40x | 1.39x |
| Brookfield Strategic Real Estate Partners V | Brookfield Asset Management | real estate equity | 2023 | — | -4.2% | 0.99x | 0.00x |
| InterWest Partners VII, L.P. | — | venture capital | 1999 | — | -4.2% | 0.69x | 0.69x |
| Polaris Venture Partners III, L.P | Polaris Partners | venture capital | 2000 | — | -4.2% | 0.72x | 0.72x |
| Conning Capital Partners V, L.P. | Conning | buyout | 1997 | — | -4.2% | 0.80x | 0.80x |
| EnCap Energy Capital VIII PE | EnCap Energy Capital | natural resources | 2011 | — | -4.3% | 0.86x | 0.59x |
| Dune IV | Dune | tactical | 2018 | — | -4.3% | 0.87x | 0.05x |
| H/2 Credit Partners RE | H/2 | real estate debt | 2011 | — | -4.3% | — | 1.50x |
| Millennium Tech Value Partners II (Master) | Millennium | secondaries | 2011 | — | -4.4% | 0.68x | 0.68x |
| Parallax Co-Investment #2 | PARALLAX | co investment | 2014 | — | -4.4% | 0.83x | 0.83x |
| Vitruvian Investment Partnership V | Vitruvian Partners | buyout | 2023 | — | -4.4% | 0.97x | 0.00x |
| Brynwood Partners IX L.P. | Brynwood | buyout | 2023 | — | -4.5% | 0.97x | 0.02x |
| U.S. Farming Realty Trust III NR | U.S. Farming Realty Trust | real estate equity | 2015 | — | -4.5% | 0.86x | 0.10x |
| Dover Street VII Cayman Fund L.P. | HarbourVest Partners (Canada) | secondaries | 2014 | — | -4.5% | 0.90x | 0.90x |
| Bessemer Venture Partners XII | Bessemer Venture Partners | venture capital | 2024 | — | -4.5% | 0.97x | — |
| Thayer Equity Investors IV, L.P. | Thayer | buyout | 1998 | — | -4.5% | 0.70x | 0.70x |
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).