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
Lexington Co-Investment Partners 2005 Pool IV	Lexington Partners	co investment	2012	—	25.3%	1.84x	0.47x
Investindustrial Growth IIIr	Investindustrial	growth equity	2022	—	25.3%	1.30x	—
Lone Star Real Estate Fund II (U.S.), L.P.	Lone Star Japan Acquisitions	real estate equity	2010	—	25.3%	1.55x	1.55x
Lone Star Real Estate Fund Il (U.S.), L.P.	Lone Star Japan Acquisitions	real estate equity	2010	—	25.3%	1.55x	1.55x
Strategic Investors V-B, L.P.	Strategic	buyout	2012	—	25.3%	5.59x	4.17x
Insight Venture Partners Growth-Buyout Coinvestment Fund LP	Insight Partners	venture capital	2015	—	25.3%	3.40x	2.76x
NEA 15 Opportunity Fund, L.P.	New Enterprise Associates (NEA)	multi strategy	2015	—	25.2%	3.68x	1.44x
Ind Vent - Prt Hold V	IND VENT - PRT HOLD	venture capital	—	—	25.2%	—	—
Main Post Co-Investment	MAIN	growth equity	2017	—	25.2%	5.78x	0.61x
Altaris Health Partners II, L.P.	Altaris Capital Partners	buyout	2008	—	25.1%	2.20x	2.20x
Hellman & Friedman Capital Partners VII PE	Hellman & Friedman	buyout	2009	—	25.1%	2.60x	2.22x
New Mountain Partners V, L.P.	New Mountain Capital	buyout	2017	—	25.1%	2.30x	1.83x
Lone Star Fund XI	Lone Star Japan Acquisitions	buyout	2019	—	25.1%	1.58x	0.89x
Bridgepoint Europe V Co-Invest	Bridgepoint	buyout	2015	—	25.1%	2.68x	2.15x
Kainos Capital Partners, L.P.4	Kainos	buyout	2013	—	25.0%	1.43x	1.43x
Mayfield VII	Mayfield Fund	venture capital	1992	—	25.0%	2.86x	2.86x
Golder, Thoma, Cressey, Rauner Fund IV, L.P	Golder, Thoma, Cressey, Rauner	buyout	1993	—	25.0%	2.12x	2.12x
CIM Infrastructure Fund III, L.P.	CIM Group	infrastructure	2022	—	25.0%	1.76x	0.11x
SilverStone II, LLC Series B (Bain IX)	SilverStone	buyout	2006	—	25.0%	1.92x	1.92x
Grove Street Partners Ventures III, L.P.	GroveStreet	buyout	2008	—	24.9%	3.30x	1.16x
Searchlight Partners II, L.P.	Searchlight Capital Partners	buyout	2006	—	24.9%	1.93x	1.38x
Mesirow Capital Partners Co-Invest X	Mesirow	buyout	2009	—	24.9%	2.91x	2.80x
A&M Capital Partners	Alvarez & Marsal Capital	buyout	2012	—	24.8%	2.17x	1.79x
Berkshire Fund VI	Berkshire	buyout	2002	—	24.8%	3.20x	3.11x
Kainos Capital Partners, L.P.	Kainos	buyout	2013	—	24.8%	1.40x	1.43x
KSL Capital Partners Supplemental II	KSL	buyout	2009	—	24.8%	2.16x	2.17x
NMS Fund IV	Nms	buyout	2020	—	24.8%	1.49x	0.63x
Hellman & Friedman Capital Partners VII	Hellman & Friedman	buyout	2011	—	24.8%	3.31x	3.24x
Lion Capital Fund I	Lion Capital	buyout	2004	—	24.8%	1.78x	1.78x
KSL Capital Partners Supplemental II TE, L.P.	KSL	private equity	2009	—	24.8%	2.20x	2.16x
Insignia Capital Partners (Parallel A)	Insignia Capital Group	buyout	2013	—	24.8%	2.60x	2.05x
TrueBridge-Kauffman Fellows Fund III, L.P.	TrueBridge Capital Partners	buyout	2004	—	24.7%	3.97x	1.04x
Lone Star Real Estate Fund II	Lone Star Japan Acquisitions	real estate equity	2010	—	24.7%	1.50x	1.48x
Oaktree Special Situations Fund III	Oaktree	special situations	2022	—	24.7%	1.36x	0.38x
TSP Value and Income Fund II, L.P.	TSP	real estate equity	—	—	24.7%	1.59x	1.59x
Lightspeed Venture Partners XIV-B, L.P. (Ignite)	Lightspeed Venture Partners	venture capital	2022	—	24.6%	1.44x	0.00x
Strategic Investors Fund V-A LP	SVB	fund of funds	2011	—	24.6%	5.53x	4.13x
Hearthstone MS III Homebuilding Investors	Hearthstone MS	real estate equity	2003	—	24.6%	3.50x	3.45x
Lincolnshire Equity Fund II	Lincolnshire	private equity	1999	—	24.6%	1.97x	1.97x
Lincolnshire Equity Fund II, L.P.	Lincolnshire	buyout	1999	—	24.6%	1.97x	1.97x
MPII-COI-NMI (Project Prince)	MPII	tactical	2022	—	24.6%	1.70x	—
Endeavour Capital Fund VII, L.P. - Secondary Purchase	Endeavour Capital	fund of funds	2020	—	24.6%	1.80x	1.00x
Silver Lake Partners, L.P.	Silver Lake Partners	buyout	1999	—	24.6%	2.20x	2.20x
Advent International Global Private Equity VIII-D	Advent International	buyout	2001	—	24.5%	2.18x	0.77x
Genstar Capital Partners VIII	Genstar	multi strategy	2017	—	24.5%	2.66x	1.23x
GOF III Feeder B, L.P.	GOF	buyout	2023	—	24.5%	1.19x	0.00x
SilverStone IV, LLC Series C (Small Secondaries)	SilverStone	buyout	2020	—	24.5%	2.20x	0.75x
ICG Strategic Equity Fund III LP	Intermediate Capital Group	secondaries	2018	—	24.5%	2.12x	1.11x
One Rock Capital Partners III, LP	One Rock Capital Partners	buyout	2021	—	24.5%	1.97x	1.10x
GCM Grosvenor - NC Innovation Fund 2013-1	GCM Grosvenor	fund of funds	2013	—	24.4%	2.49x	2.37x
TPG Partners III, L.P.	TPG	buyout	2000	—	24.4%	2.44x	2.44x
Bain Capital Asia Fund IV-B, L.P.	Bain Capital	buyout	2019	—	24.4%	1.74x	1.06x
Vector Co-Investment	Vector	co investment	2015	—	24.4%	2.97x	2.97x
Wynnchurch Capital Partners IV	Wynnchurch	buyout	2015	—	24.4%	2.88x	1.79x
Wynnchurch IV	Wynnchurch	buyout	2014	—	24.4%	2.85x	1.78x
Apollo ln\0! 5ttnenl Fund VII	Apollo	private equity	2007	—	24.4%	2.06x	1.70x
Charlesbank Equity Fund VII LP	Charlesbank Capital Partners	buyout	2009	—	24.4%	2.46x	2.46x
Fortress Japan Opportunity Fund II, L.P.	Fortress Investment Group	real estate equity	2012	—	24.4%	—	0.18x
Tritium I, LP	Tritium Partners	buyout	2014	—	24.3%	2.21x	1.46x
Orchid Asia V, L.P.	Orchid Asia	buyout	2010	—	24.3%	1.76x	1.56x
Industrial Opportunity Partners, L.P.	Industrial Opportunity Partners	buyout	2006	—	24.3%	2.99x	2.99x
Penwood PSIP II, L.P.	Penwood Real Estate Investment Management	real estate equity	2007	—	24.3%	2.10x	2.10x
Raine Partners II	Raine	buyout	2014	—	24.2%	2.95x	2.29x
GGV V	Notable Capital	venture capital	2014	—	24.2%	5.00x	2.83x
Project Bruins	—	buyout	2016	—	24.2%	4.83x	4.83x
ARCH VENTURE FUND IX LP	ARCH Venture Partners	—	—	—	24.2%	2.58x	1.53x
Searchlight Capital IV, L.P.	Searchlight Capital Partners	buyout	2024	—	24.2%	1.13x	0.00x
Craft Ventures Growth II, L.P.	Craft Ventures	venture capital	2022	—	24.1%	1.33x	0.00x
Grove Street Partners Ventures II, L.P.	GroveStreet	buyout	2002	—	24.1%	4.25x	2.47x
TrueBridge-Kauffman Fellows Endowment Fund IV (Parallel) LP	TrueBridge Capital Partners	buyout	2016	—	24.1%	3.76x	1.21x
Spark Capital III	Spark	venture capital	2011	—	24.1%	1.44x	0.88x
Elda River Opportunities Fund III LLC	Elda River	multi strategy	—	—	24.1%	1.82x	1.27x
SG/NMERB Secondary Fund II, L.P.	Sg Iv	secondaries	2016	—	24.0%	1.41x	1.41x
BC European Capital VI, L.P.	BC Partners	buyout	1998	—	24.0%	2.70x	2.73x
Thoma Cressey Fund VII, L.P.	Thoma Cressey Equity Partners	buyout	2001	—	24.0%	2.13x	2.13x
The Rise Fund III, L.P.	The Rise Fund	growth equity	2023	—	24.0%	1.30x	0.04x
CVE-Kauffman Fellows Endowment Fund II, L.P.	CVE	buyout	2002	—	24.0%	5.72x	2.83x
2009 ASP Co-Invest II	—	—	2009	—	24.0%	2.48x	1.98x
GGV CAPITAL V L.P.	Notable Capital	—	—	—	24.0%	5.00x	2.92x
BC Partners VII, L.P.	BC Partners	co investment	2000	—	23.9%	2.55x	2.54x
Arcline Capital Partners LP II	Arcline Investment Management	buyout	—	—	23.9%	1.82x	0.39x
Accel-KKR Capital Partners III, L.P.	Accel-KKR	buyout	2008	—	23.9%	3.13x	3.13x
Peppertree Capital Fund X	Peppertree Capital Management	buyout	2024	—	23.9%	—	—
Oak HC-FT Partners II	Oak HC/FT	buyout	2017	—	23.9%	3.31x	2.19x
Sycamore I	Sycamore Ventures	buyout	2011	—	23.9%	2.02x	1.59x
H.I.G. Capital Partners V PE	H.I.G. Capital	growth equity	2013	—	23.9%	1.90x	0.63x
Ridgemont Equity Partners Fund I, L.P.	Ridgemont Equity	buyout	2011	—	23.9%	2.18x	2.18x
Welsh, Carson, Anderson & Stowe XII	Welsh, Carson, Anderson & Stowe	buyout	2015	—	23.9%	2.47x	1.99x
Blue Owl GP Stakes III	Blue Owl Capital	growth equity	2015	—	23.9%	1.98x	1.19x
Project Denali	—	buyout	2013	—	23.9%	2.90x	2.90x
Providence Equity Partners IV	Providence	buyout	2000	—	23.9%	1.91x	1.91x
Apax XI USD L.P.	Apax	buyout	2024	—	23.8%	1.16x	—
Silver Lake Partners VII, L.P.	Silver Lake Partners	buyout	2024	—	23.8%	1.30x	0.03x
Lexington Capital Partners IX Lexington IX Co-Invest	Lexington Partners	buyout	2019	—	23.8%	—	—
Bain Capital Asia Fund III-A, L.P.	Bain Capital	buyout	2016	—	23.8%	2.20x	1.39x
Bain Capital Double Impact Fund	Bain Capital Double Impact Fund LP	tactical	2016	—	23.8%	0.92x	0.28x
Alta IV	Altaris Capital Partners	buyout	1988	—	23.8%	3.11x	3.11x
Natural Resources Co‐Investments	Natural Gas	natural resources	—	—	23.8%	1.64x	—
Astorg II, L.P.	Astorg	buyout	1999	—	23.8%	3.10x	3.06x
BC European Capital VII, L.P.	BC Partners	buyout	2000	—	23.7%	2.50x	2.53x

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).