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
Olympic Venture Partners III	OVP Venture Partners	venture capital	1994	—	27.1%	2.22x	2.23x
Banner Ridge Secondary Fund III (TE), L.P.	Banner Ridge Partners	secondaries	2019	—	27.0%	1.73x	1.17x
RCP Collins Co-Invest LP	RCP	co investment	—	—	27.0%	1.27x	—
ASF IX B	ASF	infrastructure	2023	—	27.0%	1.21x	0.08x
LLR Equity Partners IV	LLR	buyout	2013	—	27.0%	2.82x	2.48x
Stripes IV	Stripes	buyout	2017	—	27.0%	2.81x	1.13x
Menlo Special Opportunities, L.P.	Menlo	special situations	2016	—	27.0%	2.90x	0.04x
Keystone Industrial Fund II, L.P.	Keystone	real estate equity	2008	—	26.9%	2.24x	2.24x
Abacus Multi-Family Partners IV LP	Abacus Capital Group	real estate equity	—	—	26.9%	1.67x	1.48x
Intersouth Partners III, L.P.	Intersouth	venture capital	1994	—	26.9%	2.14x	2.14x
Carousel Capital Partners V LP	Carousel	buyout	2017	—	26.9%	2.17x	0.99x
Mayfield VI	Mayfield Fund	venture capital	1988	—	26.9%	3.93x	3.93x
Orion Mine Finance Co-Fund III LP	Orion Resource Partners	natural resources	—	—	26.9%	1.82x	1.33x
Veritas Capital Fund, L.P.	Veritas Capital	buyout	1997	—	26.9%	2.60x	2.60x
Insight Venture Partners V (Co-Investment)	Insight Partners	venture capital	2005	—	26.8%	3.30x	3.30x
Flexpoint Fund II, L.P.	Flexpoint Ford	tactical	2008	—	26.8%	1.76x	1.76x
Insight Venture Partners V Coinvestment Fund, L.P.	Insight Partners	growth equity	2005	—	26.8%	3.33x	3.17x
Insight Venture Partners V Co-Invest	Insight Partners	venture capital	2005	—	26.8%	3.30x	3.30x
JMI Equity Fund VIII	JMI Equity	venture capital	2015	—	26.7%	2.45x	1.95x
Hearthstone MS II Homebuilding Investors	Hearthstone MS	real estate equity	1999	—	26.7%	1.40x	1.38x
TA XI	Avista	growth equity	2010	—	26.7%	3.60x	3.49x
Tuckerman Multi-Family Development Fund III	Tuckerman Group	real estate equity	2002	—	26.7%	1.66x	1.66x
Charlesbank Equity Overage Fund X LP	Charlesbank Equity Overage	buyout	2021	—	26.7%	2.05x	0.45x
Insight Venture Partners V Coinvestment Fund, L.P. Co-Investment	Insight Partners	venture capital	2005	—	26.6%	3.15x	1.92x
Linden Capital Partners IV LP	Linden Capital	buyout	2018	—	26.6%	2.08x	1.05x
Aisling Capital III, L.P.	Aisling Capital	venture capital	2008	—	26.5%	2.38x	2.38x
TrueBridge FLSBA Special Purpose, LLC	TrueBridge Capital Partners	buyout	2012	—	26.5%	5.59x	2.34x
CVC European Equity Partners	CVC	buyout	1996	—	26.5%	2.43x	2.44x
Bridgepoint Europe V Co-Investment	Bridgepoint	buyout	2015	—	26.5%	2.17x	0.82x
P4G Capital Partners I	P4G	buyout	2018	—	26.5%	1.90x	0.38x
California Asia Investors, L.P.	California Asia Investors, L.P	buyout	2008	—	26.5%	4.23x	4.19x
Project Cardio	—	buyout	2023	—	26.5%	1.51x	0.00x
Project Gameday	—	buyout	2024	—	26.5%	1.30x	0.00x
Apollo - Eu Principal	Apollo	direct lending	—	—	26.4%	—	—
Aisling Capital III	Aisling Capital	venture capital	2008	—	26.4%	2.38x	2.38x
Olympus Growth Fund VII	Olympus Partners	growth equity	2017	—	26.4%	2.04x	1.00x
Linden Capital Partners III	Linden Capital	buyout	2016	—	26.4%	2.31x	1.85x
Arctic DC Holdings, LP	—	tactical	—	—	26.4%	1.51x	0.20x
Project Iceman	—	buyout	2023	—	26.4%	1.58x	0.00x
Insight Venture Partners V Coinvestment Fund, L.P. Venture Capital	Insight Partners	venture capital	2005	—	26.3%	3.40x	3.40x
KKR 1986 Fund	Kohlberg Kravis Roberts	secondaries	1986	—	26.3%	4.55x	4.55x
Gilde Buy-Out Fund V	Gilde Buy-Out	buyout	2016	—	26.3%	2.54x	2.16x
GCM Grosvenor Co-Investment Opportunities Fund III, L.P.	GCM Grosvenor	multi strategy	2022	—	26.3%	1.48x	0.13x
Top Castle Sidecar VII, L.P.	Top Castle Sidecar	buyout	2020	—	26.3%	1.67x	0.30x
Blackstone Energy Partners III, L.P.	The Blackstone Group	natural resources	2020	—	26.3%	1.83x	0.60x
Great Hill Equity Partners VII	Great Hill Partners	growth equity	2019	—	26.2%	1.66x	0.75x
U.S. Venture Partners V, L.P.	U.S. Venture Partners	venture capital	1996	—	26.2%	2.30x	2.26x
H.I.G Middle Market LBO Fund II PE	H.I.G. Capital	buyout	2014	—	26.2%	1.69x	0.86x
EQT VIII (Co-Invest)	EQT	buyout	2018	—	26.2%	2.11x	1.12x
Clayton Dubilier & Rice VIII, L.P.	Clayton Dubilier & Rice	buyout	2007	—	26.2%	2.43x	2.43x
Permira European Fund III	Permira	buyout	2003	—	26.1%	1.70x	1.72x
EQT VIII Co-Investment	EQT	buyout	2018	—	26.1%	2.11x	1.11x
PSERS YES Holdings, L.P.	PSERS YES Holdings, L.P	real estate equity	2016	—	26.1%	4.88x	0.83x
Wellspring Capital Partners III LP	Wellspring	buyout	2002	—	26.1%	2.07x	2.07x
Energy Special Situations Fund II	Energy	special situations	2008	—	26.1%	1.65x	1.65x
Ocean Avenue Fund IV	Ocean Avenue Capital Partners	buyout	2022	—	26.1%	1.93x	0.01x
Westbrook Real Estate Fund I, L.P.	Westbrook Partners	real estate equity	1995	—	26.1%	2.16x	2.16x
Mayfield IV	Mayfield Fund	venture capital	1981	—	26.0%	2.63x	2.63x
Thoma Bravo Fund XI	Thoma Bravo	buyout	2014	—	26.0%	2.67x	2.36x
Thoma Bravo XI	Thoma Bravo	buyout	2014	—	26.0%	3.63x	3.14x
Arch IX Overage	ARCH Venture Partners	venture capital	2016	—	26.0%	2.85x	1.89x
Goldner Hawn Fund VII, L.P.	Goldner Hawn	buyout	2018	—	26.0%	2.05x	1.03x
EQT VIII SCSP (Co-Invest)	EQT	buyout	2018	—	26.0%	2.10x	1.10x
GoldenTree Distressed Fund IV LP	GoldenTree Distressed Debt	distressed debt	2024	—	25.9%	2.09x	1.00x
VSS Structured Capital II, L.P.	Veronis Suhler Stevenson	buyout	2008	—	25.9%	1.94x	1.94x
GCM Grosvenor Co-Investment Opportunities Fund II, L.P.	GCM Grosvenor	multi strategy	2018	—	25.9%	2.36x	1.09x
Stonepeak Real Estate Partners – Master Co-Investment Partners LP	Stonepeak	real estate equity	—	—	25.9%	1.37x	0.00x
Permira Europe III	Permira	buyout	2003	—	25.9%	1.64x	1.64x
Francisco P art ners IV, L.P.	Francisco Partners	buyout	2015	—	25.8%	3.08x	2.39x
L Catterton Growth Partners III, L.P.	L Catterton	growth equity	2016	—	25.8%	3.08x	1.84x
Oaktree Special Situations Fund II, L.P.	Oaktree	special situations	2018	—	25.8%	1.82x	1.01x
Thomas H. Lee Equity Fund VIII, L.P.	Thomas H. Lee Partners	buyout	2018	—	25.8%	1.80x	1.15x
Lone Star Real Estate Partners II	Lone Star Japan Acquisitions	real estate equity	2010	—	25.8%	1.56x	1.56x
Halifax Capital Partners III, L.P.	Halifax Group	buyout	2012	—	25.8%	1.97x	1.97x
Bain Capital Ventures 2022	Bain Capital Ventures	venture capital	2022	—	25.7%	1.34x	0.00x
Greenoaks Capital Opportunities Fund IV LP	Green	mezzanine	2021	—	25.7%	1.93x	0.12x
SDCERA Public Pension Capital LLC	SDCERA Public Pension	buyout	2017	—	25.7%	1.74x	0.88x
ABRY Heritage Partners	ABRY Partners	co investment	2016	—	25.7%	2.01x	1.49x
Institutional Venture Partners XII, L.P.	IVP (Institutional Venture Partners)	venture capital	2007	—	25.7%	2.72x	2.72x
Fortress Investment Fund, L.P.	Fortress Investment Group	co investment	2000	—	25.7%	2.30x	2.34x
Providence Strategic Growth Fund IV, LP	Providence	growth equity	2019	—	25.6%	1.99x	1.03x
Redwood Lane Capital, L.P.	Redwood Lane	buyout	2022	—	25.6%	1.41x	0.00x
Francisco Partners IV LP	Francisco Partners	buyout	2015	—	25.5%	3.03x	2.44x
Great Hill Equity Partners IV	Great Hill Partners	growth equity	2008	—	25.5%	3.10x	2.88x
Alta V Limited Partnership	Altaris Capital Partners	buyout	1992	—	25.5%	2.42x	2.42x
Ardian Infra Fund V Co-Invest Lemon	Ardian	infrastructure	2022	—	25.5%	—	—
HGGC Fund III, L.P.	HGGC	buyout	2017	—	25.5%	2.32x	1.80x
Peak Rock Strat Partners West	Peak Rock Capital	direct lending	2021	—	25.4%	1.35x	0.21x
General Catalyst XI - Creation	General Catalyst	venture capital	2021	—	25.4%	1.65x	—
Summit Partners Growth Equity Fund VIII-A	Summit Partners	growth equity	2012	—	25.4%	2.37x	2.37x
Littlejohn Fund III	Littlejohn	buyout	2004	—	25.4%	2.37x	2.37x
Hellman & Friedman Capital Partners VIII PE	Hellman & Friedman	buyout	2014	—	25.4%	1.95x	0.29x
Charlesbank Credit Opportunities Fund III, Limited Partnership	Charlesbank Capital Partners	multi strategy	2024	—	25.3%	1.16x	0.38x
Summit Partners Growth Equity VIII-A	Summit Partners	growth equity	2011	—	25.3%	2.07x	1.99x
Summit Growth Equity VIII	Summit Partners	growth equity	2011	—	25.3%	2.13x	2.05x
Summit Partners Growth Equity Fund VIII	Summit Partners	growth equity	2011	—	25.3%	2.33x	2.24x
Summit Partners Growth Equity Fund VIII-A LP	Summit Partners	growth equity	2012	—	25.3%	2.36x	2.27x
Strategic Investors Fund V-A Opportunity LP	SVB	buyout	2012	—	25.3%	6.49x	5.29x
Fortress Credit Opportunites Fund V Expansio	Fortress Investment Group	direct lending	2020	—	25.3%	1.16x	0.04x
Apollo Accord Fund IV LP	Apollo	direct lending	2020	—	25.3%	1.10x	1.10x

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).