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 |
|---|---|---|---|---|---|---|---|
| RESOURCE CAPITAL FUND VI LP | Resource Capital Funds | natural resources | 2013 | — | -7.0% | 0.55x | 0.20x |
| CT Horizon Legacy Fund, L.P. | General Atlantic | buyout | 2008 | — | -7.1% | 0.70x | 0.70x |
| Defy Partners III | Defy Partners | tactical | 2021 | — | -7.1% | 0.91x | 0.00x |
| 1315 Capital Fund III | 1315 Capital | venture capital | 2022 | — | -7.1% | 0.94x | 0.00x |
| WLR Recovery Fund III, L.P. | WLR Recovery | turnaround | 2005 | — | -7.2% | 0.69x | 0.65x |
| Centerbridge Capital Partners II, LP | Centerbridge Partners, L.P. | buyout | 2010 | — | -7.2% | 0.81x | 0.81x |
| Merit Energy Partners F LP | Merit Energy Company | natural resources | 2005 | — | -7.2% | 0.62x | 0.62x |
| Project Therapy | — | distressed debt | 2016 | — | -7.2% | 0.69x | 0.69x |
| Star America Infrastructure Fund II, LP | Star America Infrastructure Partners | infrastructure | 2020 | — | -7.2% | 0.79x | 0.28x |
| DDJ Galileo Fund, L.P. | DDJ Capital Management | tactical | 1995 | — | -7.3% | 0.80x | 0.84x |
| Lion Capital Fund II | Lion Capital | buyout | 2007 | — | -7.3% | 0.68x | 0.68x |
| Medica III Investments (International) L.P. | Medica Venture Partners | buyout | 2004 | — | -7.3% | 0.59x | 0.42x |
| Fortress Investment Fund V, L.P. - Co-Investment | Fortress Investment Group | co investment | 2007 | — | -7.4% | 0.40x | 0.32x |
| Agilitas 2020 Private Equity Fund | Agilitas Private Equity | private equity | 2021 | — | -7.4% | 0.86x | 0.00x |
| USV 2021 | Union Square Ventures (USV) | venture capital | 2021 | — | -7.4% | 0.78x | 0.00x |
| Hicks, Muse, Tate & Furst Equity Fund IV | Hicks Muse Tate Furst | buyout | 1998 | — | -7.4% | 0.73x | 0.73x |
| Allegra Capital Partners IV, L.P. | Allegra Capital Partners | buyout | 2000 | — | -7.4% | 0.53x | 0.53x |
| Waterton Residential Property Venture XIV, L.P. | Waterton Residential Property | real estate equity | 2020 | — | -7.5% | 0.84x | 0.02x |
| Versa Capital Fund III, L.P. | Versa Capital Management | buyout | 2015 | — | -7.5% | 0.55x | 0.02x |
| Great Hill Equity Partners VIII, L.P. | Great Hill Partners | growth equity | 2022 | — | -7.5% | 0.92x | 0.00x |
| Accel Partners VI L.P. | Accel | venture capital | 1998 | — | -7.6% | 0.39x | 0.36x |
| Cortec Group Fund VIII, L.P. | Cortec Group | buyout | 2024 | — | -7.6% | 0.93x | 0.02x |
| Hahn & Company IV L.P. | Hahn & Company | buyout | 2024 | — | -7.6% | 0.94x | 0.01x |
| Tiger Global PIP XV L.P. | Tiger Global Management | venture capital | 2021 | — | -7.6% | 0.78x | — |
| VantagePoint CleanTech Partners, L.P. | VantagePoint Capital Partners | venture capital | 2006 | — | -7.6% | 0.68x | 0.68x |
| Platform Texas Fund I, LLC | Ti Platform | buyout | — | — | -7.7% | 0.88x | 0.02x |
| CityView Western Fund I, L.P. | Cityview | buyout | 2016 | — | -7.8% | 0.67x | 0.11x |
| Cornerstone Equity Investors IV | Cornerstone | buyout | 1996 | — | -7.8% | 0.80x | 0.81x |
| VantagePoint Venture Partners 2006 (Q), L.P. | VantagePoint Capital Partners | venture capital | 2006 | — | -7.8% | 0.40x | 0.25x |
| Beacon Capital Strategic Partners V, L.P. | Beacon Capital | secondaries | 2007 | — | -7.9% | 0.62x | 0.62x |
| Austin Ventures VI, L.P. | Austin | venture capital | 1998 | — | -7.9% | 0.60x | 0.63x |
| EIG Energy Fund XV, L.P (2020) | EIG Global Energy Partners | natural resources | 2010 | — | -7.9% | 0.83x | 0.64x |
| Sentient Global Resources Fund III, L.P. | — | buyout | 2008 | — | -7.9% | 0.65x | 0.43x |
| Menlo Special Opportunities Fund III, LP | Menlo | special situations | 2022 | — | -8.0% | 0.90x | — |
| Ara Fund Co-Investment T, LP | Ara | buyout | — | — | -8.0% | 0.90x | — |
| Crescendo III, L.P. | Crescendo Ventures | buyout | 1998 | — | -8.1% | 0.60x | 0.60x |
| HSRE-Coyote Maine PERS Core Co-Investment | Harrison Street | co investment | 2020 | — | -8.1% | 0.72x | 0.18x |
| Nogales Investors Fund I , LP | Nogales Investors Management | buyout | 2001 | — | -8.1% | 0.71x | 0.71x |
| Horsely Bridge XIII Venture | HORSLEY BRIDGE VENTURE | venture capital | 2019 | — | -8.2% | — | — |
| Carlyle Energy Mezzanine Opportunities Fund-Q, L.P. | Carlyle Group | multi strategy | 2010 | — | -8.3% | 0.72x | 0.72x |
| L&B Realty Advisors West Bay Villas | L&B Realty Advisors KO Olina | real estate equity | 2007 | — | -8.3% | 0.40x | 0.43x |
| Hunter Point Capital GPFS – Preferred (Onshore), L.P. | Hunter Point Capital LP | — | — | — | -8.3% | 0.99x | 0.08x |
| Project Sumo | — | growth equity | 2011 | — | -8.3% | 0.51x | 0.32x |
| Grain Spectrum Holdings IV, L.P. | Grain Spectrum Holdings | infrastructure | — | — | -8.3% | 0.84x | — |
| P&F Housing IV | P&F Housing | real estate equity | 2006 | — | -8.4% | 0.60x | 0.62x |
| Actis Energy 5 LP | Actis | infrastructure | 2021 | — | -8.4% | 0.90x | 0.12x |
| Water Street V | Water Street Healthcare Partners | buyout | 2022 | — | -8.4% | 0.86x | 0.00x |
| Spectrum Equity X-A L.P. | Spectrum Equity | venture capital | 2024 | — | -8.5% | 0.94x | — |
| TSG Capital Fund II, L.P. | TSG | buyout | 1995 | — | -8.5% | 0.66x | 0.66x |
| Rockwood Capital Real Estate Partners Fund XI | Rockwood | real estate equity | 2020 | — | -8.6% | 0.80x | — |
| Havencrest Healthcare Partners Fund II, L.P | Havencrest Capital Management | buyout | 2022 | — | -8.6% | 0.85x | 0.02x |
| Blackstone Partners IX, L.P. | The Blackstone Group | buyout | 2025 | — | -8.7% | 0.91x | — |
| Prism Venture Partners V-A | Prism | venture capital | 2005 | — | -8.7% | 0.64x | 0.64x |
| Ascentris SD Partners Core | Ascentris | real estate equity | 2021 | — | -8.7% | 0.76x | 0.08x |
| Jp Morgan Maritime Fund LP | J.P. Morgan Asset Management | — | — | — | -8.7% | 0.74x | 0.06x |
| Intersouth Partners VII, L.P. | Intersouth | venture capital | 2006 | — | -8.8% | 0.69x | 0.69x |
| GreenOak III | Green | buyout | 2017 | — | -8.8% | 0.70x | 0.10x |
| Hicks Muse Tate Furst IV LP | Hicks Muse Tate Furst | buyout | 1998 | — | -8.8% | 0.63x | 0.63x |
| Ara Fund III, LP | Ara Partners | buyout | 2023 | — | -8.8% | 0.89x | 0.00x |
| Menlo Ventures VIII, L.P. | Menlo | venture capital | 1999 | — | -8.9% | 0.50x | 0.50x |
| Jp Morgan Asian Infrastructure Related Resources II | J.P. Morgan Asset Management | infrastructure | — | — | -9.0% | 0.67x | 0.01x |
| Alterra IOS Venture III, L.P. | Alterra Property Group | venture capital | 2023 | — | -9.0% | 0.96x | 0.01x |
| Core Capital Partners II L.P. | Core Capital | buyout | 2015 | — | -9.1% | 0.76x | 0.76x |
| Global Infrastructure Partners IV-C, L.P. | GIP | infrastructure | 2007 | — | -9.2% | 0.92x | 0.00x |
| Co-Investment #2 | — | co investment | 2020 | — | -9.2% | 0.63x | 0.08x |
| SPRINGBLUE A, L.P. | Springblue | tactical | 2021 | — | -9.2% | 0.78x | 0.00x |
| PIMCO Corporate Opportunities Fund IV Onshore Feeder, L.P. | PIMCO Europe | multi strategy | 2023 | — | -9.3% | 0.89x | 0.00x |
| Sciens Aviation Special Opportunities Fund IV, L.P. | Sciens Capital Management | special situations | 2006 | — | -9.3% | 0.84x | 0.36x |
| BlackRock Diamond Property | BlackRock | real estate equity | 2005 | — | -9.3% | 0.61x | 0.61x |
| SCP Private Equity Partners II | SCP Private Equity Partners | — | 2000 | — | -9.4% | 0.44x | 0.39x |
| Phoenix Partners, L.P. - WSIB Secondary | Phoenix | buyout | 1990 | — | -9.4% | 0.70x | 0.70x |
| First Reserve Fund XI LP | First Reserve Corporation | natural resources | 2006 | — | -9.4% | 0.70x | 0.69x |
| Advent Central & Eastern Europe IV LP | Advent International | buyout | 2008 | — | -9.5% | 0.64x | 0.64x |
| ZMC III, L.P. | Zmc | co investment | 2020 | — | -9.5% | 0.75x | 0.04x |
| Investitori Associati IV | Investitori Associati | buyout | 2004 | — | -9.5% | 0.57x | 0.57x |
| Project California | — | buyout | 2013 | — | -9.6% | 0.64x | 0.50x |
| TWCP, L.P. | Wcp | buyout | 2000 | — | -9.6% | 0.60x | 0.63x |
| Willis Stein & Partners II LP | Willis Stein | buyout | 1998 | — | -9.7% | 0.58x | 0.58x |
| Tiger Global Private Investment Partners XV, L.P. | Tiger Global Management | tactical | 2022 | — | -9.7% | 0.75x | 0.00x |
| Actis Long Life Infrastructure Fund | Actis | infrastructure | 2019 | — | -9.8% | — | — |
| Fillmore East Fund, L.P. | Fillmore Capital | real estate equity | 2006 | — | -9.8% | 0.66x | 0.66x |
| Btg Pactual | BTG Pactual | — | — | — | -9.8% | 0.43x | 0.25x |
| De Novo Ventures III | De Novo Ventures | private equity | 2006 | — | -9.8% | 0.69x | 0.69x |
| Thomas Weisel Capital Partners | Thomas Weisel | buyout | 1999 | — | -9.8% | 0.59x | 0.59x |
| Harvest Partners III, L.P. | Harvest | buyout | 1997 | — | -9.8% | 0.56x | 0.56x |
| De Novo Ventures III, L.P | De Novo Ventures | private equity | 2006 | — | -9.8% | 0.69x | 0.69x |
| Tritium III, LP | Tritium Partners | buyout | — | — | -9.9% | 0.84x | — |
| Merit Energy Partners G, LP 3 | Merit Energy Company | natural resources | 2008 | — | -9.9% | 0.68x | 0.17x |
| Siris Partners IV | Siris | buyout | 2018 | — | -9.9% | 0.74x | 0.74x |
| Capri Select Income II, L.P. | Capri Capital Partners | real estate debt | 2005 | — | -9.9% | 0.52x | 0.53x |
| Focus Ventures III | Focus | venture capital | 2006 | — | -10.0% | 0.54x | 0.54x |
| Merit Energy Partners G, LP | Merit Energy Company | natural resources | 2009 | — | -10.0% | 0.70x | 0.68x |
| Asana Equity Partners III | Asana Partners | real estate equity | 2022 | — | -10.0% | — | — |
| Storm Ventures Fund VII, L.P. | Storm Ventures | venture capital | 2022 | — | -10.1% | 0.83x | 0.00x |
| KKR Enterprise Co-Invest AIV A | Kohlberg Kravis Roberts | co investment | 2019 | — | -10.1% | 0.91x | 0.88x |
| Invesco Real Estate V | Invesco | real estate equity | 2019 | — | -10.1% | 0.93x | 0.13x |
| Invesco Real Estate VI | Invesco | real estate equity | 2022 | — | -10.1% | 0.90x | 0.11x |
| Opus Capital Venture Partners VI | Opus Capital | venture capital | 2011 | — | -10.1% | 0.64x | 0.64x |
| Terra Firma Capital Partners III | Terra Firma | buyout | 2006 | — | -10.1% | 0.43x | 0.43x |
| Ashmore Global Special Situations Fund IV | Ashmore Group | special situations | 2007 | — | -10.1% | 0.60x | 0.57x |
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).