Fundraising Fox

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
AllPrivate equityPrivate creditReal assetsOpportunistic
FundManagerStrategyVintageCommittedNet IRRTVPIDPI
Adams Street 2009 Direct FundAdams Street Partnersgrowth equity2008——2.05x1.83x
Adams Street 2012 Global FundAdams Street Partnersgrowth equity2012——2.16x1.52x
Adams Street 2014 Global FundAdams Street Partnersgrowth equity2014——2.29x1.31x
Adams Street Global Opportunities Secondary Fund IAdams Street Partnerssecondaries———1.70x1.62x
Adams Street Global Opportunities Secondary Fund VAdams Street Partnerssecondaries———1.36x1.13x
Adams Street Partnership Fund -2010 Non-U.S. Emerging MktsAdams Street Partnersfund of funds2010——1.97x1.34x
Adams Street Partnership Fund 2004 Non U.S. Fund L.Adams Street Partnersfund of funds———1.42x1.42x
Adams Street Partnership Fund 2004 U.S. FundAdams Street Partnersbuyout2004——1.58x1.57x
Adams Street Partnership Fund 2005 Non U.S. Fund L.Adams Street Partnersfund of funds———1.35x1.35x
Adams Street Partnership Fund 2005 U.S. FundAdams Street Partnersbuyout2004——1.60x1.60x
Adams Street Partnership Fund 2007 Non U.S. Fund L.Adams Street Partnersfund of funds———1.63x1.63x
Adams Street Partnership Fund 2007 U.S. FundAdams Street Partnersbuyout2004——2.03x2.02x
Adams Street Partnership Fund 2009 Non U.S. DevelopAdams Street Partnersbuyout2004——1.94x1.68x
Adams Street Partnership Fund 2009 Non U.S. EmerginAdams Street Partnersbuyout2004——1.83x1.38x
Adams Street Partnership Fund 2009 U.S. FundAdams Street Partnersbuyout2004——2.37x2.04x
Adams Street Venture InnovationAdams Street Partnersventure capital2016——2.96x0.78x
GC Customer Value Fund II, L.P.Gc'llstarventure capital2023——1.18x0.06x
JMI Equity Fund VI, L.P.JMI Equityventure capital2007——1.80x1.80x
JMI Equity Fund XI, L.P.JMI Equityventure capital2023——1.17x0.00x
Oak HC-FT Partners IVOak HC/FTgrowth equity2021——1.33x0.00x
SR One Capital Fund II-A, LPSR One Capital Managementfund of funds2023——0.89x0.04x
SR One Capital Opportunities Fund I, LPSR One Capital Managementmezzanine2023——0.63x0.00x
Stepstone Cc Opportunities Fund Llc Series AStepstone Groupco investment———1.24x0.53x
Stepstone Cc Opportunities Fund Llc Series BStepstone Groupco investment———2.10x0.27x
Stepstone Cc Opportunities Fund Llc Series CStepstone Groupco investment———1.68x0.63x
Stepstone Cc Opportunities Fund Llc Series DStepstone Groupco investment———1.66x0.47x
Stepstone Cc Opportunities Fund Llc Series EStepstone Groupco investment———1.47x0.01x
Stepstone Cc Opportunities Fund Llc Series FStepstone Groupco investment———0.96x0.00x
StepStone International Investors III L.P. Private EquityStepstone Groupbuyout2006——0.80x0.83x
Stepstone VC Global Partners XStepstone Groupventure capital2021——1.09x1.09x
TCV L.P.TCVventure capital2019——2.44x—
TCVX, L.P.TCVventure capital2019——2.98x0.56x
Top Tier CT Venture Partners, L.P.Top Tier Capital Partnersventure capital2024——0.00x—
ASF VIII B ASF VIII B NYC Co-Invest Warburg Pincus GlobalWarburg Pincusinfrastructure2019——13.70x—
Warburg Pincus Capital Solutions Founder Fund, L.PWarburg Pincusspecialty finance2024——1.25x0.42x
Warburg Pincus China and Southeast Asia IIWarburg Pincusbuyout2019——1.05x0.16x
Warburg Pincus China and Southeast Asia II-EWarburg Pincusbuyout2019——0.84x—
Warburg Pincus China-Southeast Asia II LPWarburg Pincusbuyout2019——1.05x0.16x
Warburg Pincus Global Growth EWarburg Pincusgrowth equity2019——0.91x—
Warburg Pincus Jovian FS, LPWarburg Pincusfund of funds2024——2.33x0.00x
Warburg Pincus Private Equity Fund XI, L.P.Warburg Pincusgrowth equity2009——1.72x0.20x
Warburg Pincus Private Equity Fund XII, L.P.Warburg Pincusgrowth equity2011——2.08x1.43x
Warburg Pincus Private Equity XI Summit Partners Growth Equity FundWarburg Pincusgrowth equity2012——25.40x—
Warburg Pincus XWarburg Pincusgrowth equity2007——1.76x0.01x
Warburg Pincus XIWarburg Pincusgrowth equity2012——1.74x0.19x
WARBURG PINCUS XIIWarburg Pincusgrowth equity2015——2.06x0.62x
NYCERS - Evergreen Emerging Manager ProgramEvergreen Venture Partnerstactical2024——1.22x1.22x
NYCP - Evergreen Emerging Manager ProgramEvergreen Venture Partnerstactical2024——1.21x—
NYCTRS - Evergreen Emerging Manager ProgramEvergreen Venture Partnerstactical2024——0.09x0.09x
Softbank Capital Technology New York Fund II, LPSoftbankventure capital2013——3.48x3.12x
Softbank Capital Technology New York Fund, LPSoftbankventure capital2005——1.92x1.82x
HONGSHAN CAPITAL EXPANSION FUND I LPHongShan Capital Groupventure capital2024——0.95x0.00x
HONGSHAN CAPITAL GROWTH FUND VII LPHongShan Capital Groupgrowth equity2023——0.81x0.00x
Thrive Capital Partners IX Growth, L.P.Thrive Capitalgrowth equity2024——1.21x0.00x
Thrive Capital Partners Opportunity Fund, L.P.Thrive Capitalmulti strategy2024——1.29x0.00x
THRIVE CAPITAL PARTNERS VIII GROWTH LPThrive Capitalgrowth equity2023——1.65x0.00x
Acrew Capital Fund III, L.P.Acrew Capitalbuyout2024——0.87x0.00x
Acrew Diversify Capital Fund II, L.P.Acrew Capitalbuyout2024——0.67x0.00x
Bregal Sagemount Credit Opportunities Series 2023 L.P.General Atlanticmulti strategy2024——0.90x0.07x
Bregal Sagemount Direct Lending Series 2023 L.P.General Atlanticdirect lending2024——1.00x0.33x
Griffin Gaming Partners III, L.P.General Atlanticbuyout2025——0.84x0.00x
SignalFire Early Fund IV, L.P.SignalFireventure capital2025——0.99x0.00x
SignalFire Sage Fund, L.P.SignalFireventure capital2023——1.07x0.00x
SignalFire Seed Fund V, L.P.SignalFireventure capital2024——0.85x0.00x
SignalFire XIR Venture Fund II, L.P.SignalFireventure capital2024——0.85x0.00x
Francisco Partners Agility IIIFrancisco Partnersbuyout2023——1.18x0.00x
Francisco Partners VIIFrancisco Partnersbuyout2023——1.10x0.00x
TA Associates Fund XIIITA Associatesgrowth equity2019——1.98x0.73x
TA Associates Realty XTA Associatesreal estate equity2013——1.61x0.00x
TA Associates XIVTA Associatesgrowth equity2021——1.21x0.19x
TA XIV-ATA Associatesgrowth equity2021——1.22x0.21x
TA XIV, L.P.TA Associatesgrowth equity2021——1.20x0.15x
TA XV-A LPTA Associatesgrowth equity2025——0.91x0.00x
Vista Co-Invest Fund 2018-2, LPVista Equity Partnersco investment2019——1.08x0.02x
Vista Credit Opportunities Fund II, LPVista Equity Partnersmulti strategy2016——1.13x1.13x
Vista Credit Partners III, LPVista Equity Partnersdirect lending2020——1.26x0.32x
Vista Equity Partners Fund VIIIVista Equity Partnersbuyout2022——1.28x0.01x
Vista Foundation Fund I, LPVista Equity Partnersbuyout2010——3.07x2.98x
Vista Opportunistic Credit Fund I, LPVista Equity Partnersdirect lending2017——1.38x0.49x
VISTA VIII COINVESTVista Equity Partnersbuyout———1.22x—
Forbion Growth Opportunities Fund II Cooperatief U.A.Forbionmulti strategy2023——1.64x1.01x
Forbion Growth Opportunities Fund III Co?peratief U.A.Forbionmulti strategy2024——0.65x0.07x
Forbion Ventures Fund VI Cooperatief U.A.Forbionventure capital2023——1.34x0.34x
Forbion Ventures Fund VII Co?peratief U.A.Forbionventure capital2024——0.85x0.01x
Vivo Opportunity Fund, LPVivo Capitalmulti strategy2018——1.84x1.84x
Icon Partners III, L.P.Iconbuyout2021——0.00x0.00x
Dragoneer Opportunities Fund VII L.P.Dragoneer Investment Groupgrowth equity———0.94x0.00x
Armory Square Ventures II, LPArmory Square Venturesventure capital2019——0.64x0.12x
Armory Square Ventures III, LPArmory Square Venturesventure capital2023——0.75x0.00x
Technology Impact Fund II PETechnology Impactgrowth equity2021——0.97x—
Wisteria Fund II Cayman, LPWisteria Investmentsbuyout2001——0.68x0.00x
MARATHON CTR ST PARTNERSHIP BMarathondistressed debt———1.29x—
Coefficient Capital Apex Fund I, LPCoefficient Capitalbuyout2023——0.85x0.00x
Coefficient Capital Fund II, LPCoefficient Capitalbuyout2024——0.80x0.00x
Founders Equity NY, LPFoundersventure capital2003——1.18x1.18x
Pinegrove Sunshine Innovation Perpetual Fund, LP.Pinegrove Sunshine Innovation Perpetualbuyout2025——1.13x0.00x
Pinegrove Sunshine Innovation Perpetual Fund, LP. - Tranche DPinegrove Sunshine Innovation Perpetualbuyout2025——0.99x0.00x
Set Builders II, LPSet Buildersbuyout2024——1.43x0.00x
Biospring Partners Fund IIBIOSPRING PARTNERSventure capital2024——0.00x—
Sage Equity InvestorsSagebuyout2024——0.44x0.44x

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).