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Insight Partners XI

Insight Partners Vintage 2020 Reported by Texas Municipal Retirement System, Washington State Investment Board, Colorado Public Employees' Retirement Association (Colorado PERA), Alaska Permanent Fund Corporation (APFC), CalPERS

Net IRR11.2%Texas Municipal Retirement System, as of June 30, 2026
TVPI1.73xTotal value / paid-in
DPI0.11xDistributions / paid-in
Versus vintageQ3Third quartile · #6 of 10

What each LP reports

LPAs ofCommittedPaid inDistributedRemaining valueNet IRRTVPIDPIPaid in vs. value
Texas Municipal Retirement System2026-06-30$55M$54M$5.7M$87M11.2%1.73x0.11x
Washington State Investment Board2026-03-31$200M$195M$34M$295M10.9%1.69x0.18x
Colorado Public Employees' Retirement Association (Colorado PERA)2025-12-31$65M$63M$11M—12.2%—0.18x
Alaska Permanent Fund Corporation (APFC)2025-12-31$50M———N/M——
CalPERS2025-12-31$400M$389M$38M$659M12.6%1.80x0.10x

Paid in Distributed Remaining value

2020 vintage in Texas Municipal Retirement System’s portfolio

All 10 funds of vintage 2020 in Texas Municipal Retirement System’s report, ranked by net IRR. Private equity, venture, and other strategies are mixed, so treat this as context rather than a strategy benchmark.

GTCR Fund XIII/A LP and GTCR Fund XIII/B LP: 18.4%Stellex Capital Partners II LP: 13.7%Flagship Pioneering – Origination Fund VII, L.P.: 12.9%HarbourVest TMRS Polaris SMA L.P. (Tranche 1): 11.8%Blackstone Strategic Capital Holdings II L.P.: 11.3%Insight Partners XI, L.P.: 11.2%Altaris Health Partners V, L.P.: 8.1%Altimeter Growth Partners Fund V, L.P.: 4.1%H.I.G. Strategic Partners Fund II, L.P. PE: 3.5%Dragoneer Opportunities Fund V, L.P.: 0.7%0.7%18.4%
#FundNet IRRTVPIDPI
1GTCR Fund XIII/A LP and GTCR Fund XIII/B LP18.4%1.56x0.53x
2Stellex Capital Partners II LP13.7%1.58x0.33x
3Flagship Pioneering – Origination Fund VII, L.P.12.9%1.41x0.09x
4HarbourVest TMRS Polaris SMA L.P. (Tranche 1)11.8%1.50x0.39x
5Blackstone Strategic Capital Holdings II L.P.11.3%1.45x0.63x
6Insight Partners XI, L.P.11.2%1.73x0.11x
7Altaris Health Partners V, L.P.8.1%1.26x0.02x
8Altimeter Growth Partners Fund V, L.P.4.1%1.22x0.00x
9H.I.G. Strategic Partners Fund II, L.P. PE3.5%1.15x0.46x
10Dragoneer Opportunities Fund V, L.P.0.7%1.16x0.43x

2020 vintage in Washington State Investment Board’s portfolio

All 17 funds of vintage 2020 in Washington State Investment Board’s report, ranked by net IRR. Private equity, venture, and other strategies are mixed, so treat this as context rather than a strategy benchmark.

Endeavour Capital Fund VI, L.P. - Secondary Purchase: 176.8%Endeavour Capital Fund V, L.P. - Secondary Purchase: 165.5%Endeavour Capital Fund VII, L.P. - Secondary Purchase: 25.2%Searchlight Capital Partners III, L.P.: 21.6%Jade Equity Investors, L.P.: 17.7%Menlo Ventures XV, L.P.: 16.0%Towerbrook Investors V, L.P.: 15.2%Green Equity Investors VIII, L.P.: 11.4%Hellman & Friedman Capital Partners IX, L.P.: 11.3%Madison Dearborn Capital Partners VIII, L.P.: 10.9%Insight Partners XI, L.P.: 10.9%Stone Point Fund VIII, L.P.: 10.5%KKR European Fund V, L.P. - USD: 9.4%Oaktree Opportunities Fund XI, L.P.: 9.4%Cinven Seventh Fund: 9.1%Apax X, L.P.: 8.1%Permira VII, L.P.: 6.1%6.1%176.8%
#FundNet IRRTVPIDPI
1Endeavour Capital Fund VI, L.P. - Secondary Purchase176.8%2.85x2.85x
2Endeavour Capital Fund V, L.P. - Secondary Purchase165.5%2.71x2.71x
3Endeavour Capital Fund VII, L.P. - Secondary Purchase25.2%1.86x1.28x
4Searchlight Capital Partners III, L.P.21.6%1.83x0.63x
5Jade Equity Investors, L.P.17.7%1.60x0.67x
6Menlo Ventures XV, L.P.16.0%1.80x0.00x
7Towerbrook Investors V, L.P.15.2%1.66x0.26x
8Green Equity Investors VIII, L.P.11.4%1.57x0.39x
9Hellman & Friedman Capital Partners IX, L.P.11.3%1.67x0.21x
10Madison Dearborn Capital Partners VIII, L.P.10.9%1.34x0.44x
11Insight Partners XI, L.P.10.9%1.69x0.18x
12Stone Point Fund VIII, L.P.10.5%1.54x0.45x
13KKR European Fund V, L.P. - USD9.4%1.42x0.46x
14Oaktree Opportunities Fund XI, L.P.9.4%1.35x0.60x
15Cinven Seventh Fund9.1%1.34x0.27x
16Apax X, L.P.8.1%1.30x0.30x
17Permira VII, L.P.6.1%1.29x0.29x

2020 vintage in Colorado Public Employees' Retirement Association (Colorado PERA)’s portfolio

All 10 funds of vintage 2020 in Colorado Public Employees' Retirement Association (Colorado PERA)’s report, ranked by net IRR. Private equity, venture, and other strategies are mixed, so treat this as context rather than a strategy benchmark.

Francisco Partners Agility II: 26.7%W Prime IV, L.P.: 25.2%Longitude Venture Partners IV: 22.0%JLL Partners VIII: 18.9%Coller International Partners VIII, L.P.: 17.3%Lexington Capital Partners IX, L.P.: 14.6%Summit Partners Growth Equity X: 12.3%Insight Partners XI: 12.2%Fortress Credit Opportunities Fund V Expansion: 10.4%Permira VII L.P.: 8.3%8.3%26.7%
#FundNet IRRTVPIDPI
1Francisco Partners Agility II26.7%—0.92x
2W Prime IV, L.P.25.2%—1.15x
3Longitude Venture Partners IV22.0%—0.38x
4JLL Partners VIII18.9%—0.57x
5Coller International Partners VIII, L.P.17.3%—0.45x
6Lexington Capital Partners IX, L.P.14.6%—0.54x
7Summit Partners Growth Equity X12.3%—0.41x
8Insight Partners XI12.2%—0.18x
9Fortress Credit Opportunities Fund V Expansion10.4%—0.44x
10Permira VII L.P.8.3%—0.12x

2020 vintage in Alaska Permanent Fund Corporation (APFC)’s portfolio

All 35 funds of vintage 2020 in Alaska Permanent Fund Corporation (APFC)’s report, ranked by net IRR. Private equity, venture, and other strategies are mixed, so treat this as context rather than a strategy benchmark.

#FundNet IRRTVPIDPI
—Altitude Life Science Ventures Fund IV-A LPN/M——
—Altitude Life Science Ventures Side Fund IV LPN/M——
—Carlyle International Energy Partners II SCSPN/M——
—Charlesbank Credit Opportunities Fund II Limited PartnershipN/M——
—Charlesbank Technology Opportunities Fund Limited PartnershipN/M——
—Crestline AK Advisory Investments II LPN/M——
—Clearlake Capital Partners VI LPN/M——
—Fortissimo Capital Fund V LPN/M——
—Goodwater Infinity I LPN/M——
—HIG Capital Partners VI LPN/M——
—HongShan Capital Growth Fund VI LPN/M——
—HongShan Capital Venture Fund VIII LPN/M——
—HV Holtzbrinck Ventures Fund VIII Feeder LimitedN/M——
—Index Ventures X (Jersey) LPN/M——
—Index Ventures Growth V (Jersey) LPN/M——
—Insight Partners XI LPN/M——
—Jade Equity Investors LPN/M——
—KPS Special Situations Fund V LPN/M——
—KPS Special Situations Mid-Cap Fund LPN/M——
—L Catterton IX LPN/M——
—Lightspeed Venture Partners XIII LPN/M——
—Marlin Heritage Europe II LPN/M——
—Na'-Nuk Investment Fund LPN/M——
—Permira VII LP1N/M——
—Sequoia Capital Global Growth Fund III - China Annex Fund LPN/M——
—Sequoia Capital Global Growth Fund III - US/India Annex Fund LPN/M——
—Sequoia Capital US Growth Fund IX LPN/M——
—Sequoia Capital US Venture Fund XVII LPN/M——
—Spectrum Equity IX-A LPN/M——
—TA Select Opportunities Fund-A LPN/M——
—Trident VIII LPN/M——
—Vista Foundation Fund IV LPN/M——
—Wynnchurch Capital Partners V LPN/M——
—Y Combinator ES20 LLCN/M——
—YCC20 LPN/M——

2020 vintage in CalPERS’s portfolio

All 22 funds of vintage 2020 in CalPERS’s report, ranked by net IRR. Private equity, venture, and other strategies are mixed, so treat this as context rather than a strategy benchmark.

Francisco Partners Agility II, L.P.: 26.7%Top Castle Sidecar VII, L.P.: 21.9%Jade Equity Investors, L.P.: 18.4%Redwood Opportunities SCSp: 16.5%Forecastle, L.P.: 15.9%California Partners, L.P.: 14.9%LongRange Capital Fund I, L.P.: 14.0%CVC Capital Partners Asia V L.P.: 13.5%Insight Partners XI, L.P.: 12.6%Hellman & Friedman Capital Partners IX, L.P.: 12.4%Summit Partners Growth Equity Fund X-A, L.P.: 12.3%ASF VIII B L.P.: 12.0%VIP IV LP: 12.0%OHA Black Bear Fund, L.P.: 11.7%Trident VIII, L.P.: 11.4%KKR European Fund V (USD) SCSp: 10.5%Oaktree Latigo Investment Fund, L.P.: 10.4%Green Equity Investors VIII, L.P.: 9.0%Samson Partners, L.P.: 8.7%General Atlantic Managed Account: 8.6%Permira VII L.P.1: 7.7%Sierra Partners, L.P.: -5.3%-5.3%26.7%
#FundNet IRRTVPIDPI
1Francisco Partners Agility II, L.P.26.7%2.20x0.92x
2Top Castle Sidecar VII, L.P.21.9%1.70x0.37x
3Jade Equity Investors, L.P.18.4%1.60x0.66x
4Redwood Opportunities SCSp16.5%1.60x0.03x
5Forecastle, L.P.15.9%1.50x0.02x
6California Partners, L.P.14.9%1.50x0.05x
7LongRange Capital Fund I, L.P.14.0%1.40x0.33x
8CVC Capital Partners Asia V L.P.13.5%1.50x0.33x
9Insight Partners XI, L.P.12.6%1.80x0.10x
10Hellman & Friedman Capital Partners IX, L.P.12.4%1.70x0.66x
11Summit Partners Growth Equity Fund X-A, L.P.12.3%1.50x0.41x
12ASF VIII B L.P.12.0%1.40x0.49x
13VIP IV LP12.0%1.50x0.09x
14OHA Black Bear Fund, L.P.11.7%1.60x0.74x
15Trident VIII, L.P.11.4%1.60x0.65x
16KKR European Fund V (USD) SCSp10.5%1.40x0.46x
17Oaktree Latigo Investment Fund, L.P.10.4%1.40x0.76x
18Green Equity Investors VIII, L.P.9.0%1.40x1.14x
19Samson Partners, L.P.8.7%1.50x0.36x
20General Atlantic Managed Account8.6%1.30x0.13x
21Permira VII L.P.17.7%1.40x0.51x
22Sierra Partners, L.P.-5.3%0.90x0.26x

Other reported funds by this firm

FundVintageNet IRRTVPIVersus vintage
Insight Partners XIII202521.8%—Second quartile
Insight Partners Fund XIII2024N/M1.17x
Insight Partners XIII2024N/M1.17x
Insight Partners XIII Growth Buyout Fund2024N/M—
Insight Partners Fund XI Follow-On Fund20226.5%1.18xSecond quartile
Insight Partners Fund XII20213.4%1.11xBottom quartile
Insight Partners XII20212.6%1.10xBottom quartile
Insight Partners XII Buyout Annex Fund20216.0%1.23xThird quartile
Insight Venture Partners XI202012.3%1.75xSecond quartile
Insight Partners XI201912.6%1.80xTop quartile
Insight Venture Partners X201821.3%—Top quartile
Insight Venture Partners X2017N/M—
Insight Venture Partners Growth-Buyout Coinvestment Fund (B)201525.5%3.50xTop quartile
Insight Venture Partners Growth-Buyout Coinvestment Fund201524.4%3.24xTop quartile
Insight Venture Partners IX201522.5%3.95xTop quartile
Insight Venture Partners Coinvestment Fund III2014N/M—
Insight Venture Partners IX2014N/M—
Insight Venture Partners VIII201320.0%3.14xTop quartile
Insight Venture Partners VII201120.7%3.08x
Insight Venture Partners Coinvestment Fund II2010N/M—
Insight Partners XI—N/M1.72x
Insight Partners XII Buyout Annex Fund—N/M1.22x
Insight Partners XII—N/M1.09x
Insight Partners—N/M—
Insight Partners (Cayman) XI—N/M—
Insight Partners (Eu) XIII S.C—N/M—
Insight Partners Fund X Follow-On Fund—N/M—
Insight Partners Fund XIII—N/M—
Insight Partners IX, X, XI, XII, XIII, XIII GBO—N/M—
Insight Partners Opportunities Fund I—N/M—
Insight Partners Opportunities Fund II—N/M—
Insight Partners Opportunities I Annex A—N/M—
Insight Partners XII Annex A—N/M—
Insight Partners XIII—N/M1.17x
Insight Venture Partners (Cayman) X—N/M—
Insight Venture Partners GBCF—N/M—
Insight Venture Partners IX—N/M—
Insight Venture Partners X Follow-On Fund—N/M0.90x
Insight Venture Partners X—N/M2.78x

About this data

Texas Municipal Retirement System: TMRS Private Investment Performance Since Inception (Private Equity), as of June 30, 2026. "Percentage Return" since inception as printed by TMRS for funds whose "Performance Methodology" is "IRR" (internal rate of return). TMRS does not label the IRR net or gross and does not say how or by whom it is calculated or when it is not meaningful, so IRRs of very young funds are shown as printed; it states that the information has not been prepared or approved by any manager or general partner and may not reflect their records. TMRS prints no multiple: total value = amount received + remaining value, TVPI = total value / amount invested and DPI = amount received / amount invested are computed from the reported whole-dollar columns. TMRS lists the date(s) of investment (the dates its commitments were completed, matching its Completed Investments Report) rather than a vintage year; the year of the earliest date is used as the vintage. 3 commitments are stated in euros and their committed amount is left blank (the invested, received and remaining amounts are in dollars). 9 commitments have nothing invested yet and so no IRR or multiples. 1 funded holding has no IRR because TMRS prints no return, or a time-weighted return, for it. Private Equity section only (as classified by TMRS; it includes venture, growth, buyout, co-investments and separately managed accounts); the Credit, Global Equity, Real Assets, Tactical Opportunities and Multi Asset Class sections are not imported. View source

Washington State Investment Board: WSIB Private Equity Portfolio Performance Summary By Strategy, as of March 31, 2026. Net IRR as labeled by WSIB, calculated by Hamilton Lane from general partner cash flows and valuations and not confirmed by the general partners. TVPI is WSIB's total value multiple (B+C)/A recomputed to two decimals from the reported totals (WSIB prints one decimal). WSIB lists an initial investment date rather than a vintage year; its year is used as the vintage (blank for commitments not yet funded). Includes realized and legacy partnerships. View source

Colorado Public Employees' Retirement Association (Colorado PERA): Colorado PERA Private Equity Holdings, as of December 31, 2025. The IRR is the column PERA heads "Colorado PERA's Since Inception IRR"; PERA does not label it net or gross. PERA states that the limited partnership recordkeeping, including the IRR, is maintained internally by PERA for each limited partnership, that its IRR calculation method may differ from the methods used by the general partners or other limited partners, and that none of the information has been reviewed or approved by the general partners. 5 partnerships are marked "NM" (not meaningful) and have no IRR. PERA lists each partnership's vintage year, capital committed ("original primary commitments"), capital contributed and capital distributed in whole dollars, and no fair value or multiple, so total value and TVPI are blank (PERA says disclosure for this asset class is limited to this information, as required by Colorado Revised Statute § 24-51-213(3)); DPI = capital distributed / capital contributed is computed, and is blank for the 5 partnerships whose capital distributed is printed as a negative amount. 41 partnerships carry PERA's footnote "Assets transferred subsequent to 2010 merger of Denver Public Schools Retirement System" and are listed under vintage year 2010, the year of the merger; their vintage is left blank. All 425 rows of PERA's Private Equity list are included, liquidated partnerships among them, as PERA classifies them (buyout, growth, venture, secondaries, co-investments and some credit, mezzanine and energy partnerships); its separate Alternatives, Hedge Funds and Real Estate lists are not imported. View source

Alaska Permanent Fund Corporation (APFC): APFC Private Equity Report: Private Equity Fund Commitments & Direct Investments / Co-Investments, as of December 31, 2025. APFC's quarterly Private Equity report ("Private Equity Fund Commitments & Direct Investments / Co-Investments") lists each fund with only its currency, "Vintage Year" and "Commitment (USD)", shown here in whole US dollars as printed. It reports no contributions, distributions, market value, multiple or IRR per fund, so paid-in, distributed, total value, IRR, TVPI and DPI are blank; nothing is derived or estimated. All 454 entries of the report's "Fund Investments" list are included ($17,570,561,197 committed); 15 have the vintage year "TBD" (blank here) and 45 are commitments in another currency that APFC states in US dollars. The report's separate "Direct Investments / Co-Investments" list (56 entries, $2,792,151,600: portfolio companies, co-investment vehicles and manager stakes) is not imported. The two lists add up to the report's printed Total Commitments of $20,362,712,795. For the whole portfolio, including liquidated investments, the report prints Cumulative Contributions of $20,951,089,446, Cumulative Distributions of $22,493,801,627 and a Remaining Fair Market Value of $15,555,575,745. APFC is a state-owned corporation that manages the Alaska Permanent Fund, not a pension plan; its separate Private Income report is not imported. View source

CalPERS: CalPERS Private Equity Program Fund Performance, as of December 31, 2025. Net IRR and investment multiple as reported by CalPERS. N/M (not meaningful) for funds in early years is shown as blank. View source

Figures are as each LP reports them for its own investment, so they can differ between LPs because of timing, fees, and share class. Not investment advice.