Insight Venture Partners IX
Insight Partners Vintage 2015 Reported by Washington State Investment Board, Colorado Public Employees' Retirement Association (Colorado PERA), Greater Manchester Pension Fund (GMPF), Los Angeles City Employees' Retirement System (LACERS), Pennsylvania SERS, CalPERS
What each LP reports
| LP | As of | Committed | Paid in | Distributed | Remaining value | Net IRR | TVPI | DPI | Paid in vs. value |
|---|---|---|---|---|---|---|---|---|---|
| Washington State Investment Board | 2026-03-31 | $150M | $158M | $439M | $186M | 22.5% | 3.95x | 2.77x | |
| Colorado Public Employees' Retirement Association (Colorado PERA) | 2025-12-31 | $50M | $53M | $146M | — | 23.0% | — | 2.76x | |
| Greater Manchester Pension Fund (GMPF) | 2025-12-31 | $40M | $40M | $114M | $55M | N/M | — | — | |
| Los Angeles City Employees' Retirement System (LACERS) | 2025-12-31 | $25M | $26M | $73M | $34M | 22.9% | 4.04x | 2.74x | |
| Pennsylvania SERS | 2025-12-31 | $50M | $53M | $143M | $75M | 23.0% | 4.12x | 2.70x | |
| CalPERS | 2025-12-31 | $100M | $106M | $287M | $146M | 23.1% | 4.10x | 2.71x |
Paid in Distributed Remaining value
2015 vintage in Washington State Investment Board’s portfolio
All 12 funds of vintage 2015 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.
| # | Fund | Net IRR | TVPI | DPI |
|---|---|---|---|---|
| 1 | Francisco Partners IV, L.P. | 24.8% | 2.83x | 2.40x |
| 2 | Insight Venture Partners Growth-Buyout Coinvestment Fund, L.P. | 24.4% | 3.24x | 2.76x |
| 3 | Insight Venture Partners IX, L.P. | 22.5% | 3.95x | 2.77x |
| 4 | TPG Partners VII, L.P. | 19.9% | 2.01x | 1.86x |
| 5 | FFL Capital Partners IV, L.P. | 16.7% | 1.69x | 1.69x |
| 6 | Rhone Partners V, L.P. | 16.2% | 2.10x | 1.08x |
| 7 | Warburg Pincus Private Equity XII, L.P. | 15.8% | 2.12x | 1.49x |
| 8 | TPG Growth III, L.P. | 14.6% | 1.60x | 1.20x |
| 9 | KKR European Fund IV, L.P. | 14.1% | 1.76x | 1.24x |
| 10 | Advent Latin American Private Equity Fund VI-H, L.P. | 12.2% | 1.82x | 1.24x |
| 11 | Menlo Ventures XII, L.P. | 9.4% | 1.88x | 0.61x |
| 12 | Oaktree Opportunities Fund X, L.P. | 8.6% | 1.53x | 1.13x |
2015 vintage in Colorado Public Employees' Retirement Association (Colorado PERA)’s portfolio
All 12 funds of vintage 2015 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.
| # | Fund | Net IRR | TVPI | DPI |
|---|---|---|---|---|
| 1 | Genstar Capital Partners VII | 32.6% | — | 2.30x |
| 2 | Francisco Partners IV | 26.4% | — | 2.90x |
| 3 | Insight Venture Partners IX | 23.0% | — | 2.76x |
| 4 | Lime Rock VII | 17.9% | — | 1.48x |
| 5 | JLL Partners VII | 15.1% | — | 1.69x |
| 6 | Warburg Pincus Private Equity XII, L.P. | 14.3% | — | 1.84x |
| 7 | Lexington Capital Partners VIII, L.P. | 13.7% | — | 1.27x |
| 8 | GCM Grosvenor Peloton II | 9.1% | — | 1.32x |
| 9 | Fortress Credit Opportunities Fund IV | 8.2% | — | 1.10x |
| 10 | Blackstone Energy Partners II L.P. | 5.3% | — | 1.29x |
| 11 | Comvest Investment Partners V | 5.3% | — | 1.21x |
| 12 | Arclight Energy Partners Fund VI | 3.8% | — | 0.93x |
2015 vintage in Greater Manchester Pension Fund (GMPF)’s portfolio
All 11 funds of vintage 2015 in Greater Manchester Pension Fund (GMPF)’s report, ranked by net IRR. Private equity, venture, and other strategies are mixed, so treat this as context rather than a strategy benchmark.
| # | Fund | Net IRR | TVPI | DPI |
|---|---|---|---|---|
| — | AEA Investors Fund VI | N/M | — | — |
| — | Ares Corporate Opportunities Fund V | N/M | — | — |
| — | Equistone Partners Europe Fund V | N/M | — | — |
| — | Genstar Capital VII | N/M | — | — |
| — | Insight Venture Partners IX | N/M | — | — |
| — | Montagu V | N/M | — | — |
| — | Palatine Private Equity Fund III | N/M | — | — |
| — | Pantheon Global Secondaries Fund V Feeder | N/M | — | — |
| — | Pantheon Multi-Strategy Program 2014 | N/M | — | — |
| — | Thomas H. Lee Parallel Fund VII | N/M | — | — |
| — | Warburg Pincus Private Equity XII | N/M | — | — |
2015 vintage in Los Angeles City Employees' Retirement System (LACERS)’s portfolio
All 17 funds of vintage 2015 in Los Angeles City Employees' Retirement System (LACERS)’s report, ranked by net IRR. Private equity, venture, and other strategies are mixed, so treat this as context rather than a strategy benchmark.
| # | Fund | Net IRR | TVPI | DPI |
|---|---|---|---|---|
| 1 | Sunstone Partners I | 32.6% | 3.09x | 2.50x |
| 2 | Wynnchurch Capital Partners IV | 24.3% | 2.90x | 1.86x |
| 3 | Insight Venture Partners IX | 22.9% | 4.04x | 2.74x |
| 4 | Institutional Venture Partners XV | 22.8% | 2.87x | 2.00x |
| 5 | Searchlight Capital II | 19.6% | 1.90x | 1.36x |
| 6 | CenterGate Capital Partners I | 17.0% | 1.77x | 1.03x |
| 7 | 1315 Capital Fund | 16.4% | 2.22x | 1.00x |
| 8 | Encap Energy Capital Fund X | 15.8% | 2.15x | 1.71x |
| 9 | Thoma Bravo Special Opportunities Fund II | 15.6% | 2.67x | 1.88x |
| 10 | Stripes III | 15.4% | 2.34x | 1.48x |
| 11 | BDCM Opportunity Fund IV | 14.5% | 1.99x | 1.05x |
| 12 | Angeles Equity Partners I | 13.4% | 1.47x | 0.89x |
| 13 | The Baring Asia Private Equity Fund VI, L.P. 1 | 12.7% | 1.73x | 1.60x |
| 14 | Astorg VI | 12.5% | 1.72x | 1.32x |
| 15 | New Enterprise Associates 15 | 10.4% | 1.83x | 1.09x |
| 16 | New Water Capital | 10.3% | 1.40x | 1.27x |
| 17 | Oaktree Opportunities Fund X | 8.3% | 1.57x | 1.13x |
2015 vintage in Pennsylvania SERS’s portfolio
All 14 funds of vintage 2015 in Pennsylvania SERS’s report, ranked by net IRR. Private equity, venture, and other strategies are mixed, so treat this as context rather than a strategy benchmark.
| # | Fund | Net IRR | TVPI | DPI |
|---|---|---|---|---|
| 1 | Clearlake Capital Partners IV | 26.6% | 1.95x | 1.66x |
| 2 | JMI Equity Fund VIII | 26.4% | 2.45x | 1.95x |
| 3 | Francisco Partners IV | 25.1% | 2.92x | 2.42x |
| 4 | Insight Venture Partners IX | 23.0% | 4.12x | 2.70x |
| 5 | Ridgemont Equity Partners II | 18.3% | 1.87x | 1.51x |
| 6 | Centerbridge Capital Partners III | 13.1% | 1.53x | 1.16x |
| 7 | Advent Latin American Private Equity Fund VI | 12.8% | 1.87x | 1.04x |
| 8 | Primavera Capital Fund II | 8.0% | 1.65x | 0.60x |
| 9 | RRJ Capital Master Fund III | 7.6% | 1.22x | 0.95x |
| 10 | ADV Opportunities Fund I | 2.2% | 1.13x | 1.02x |
| — | ABRY Partners VIII | N/M | — | 1.30x |
| — | H.I.G. Brazil and Latin America Partners | N/M | — | 0.54x |
| — | Lightspeed India Partners I | N/M | — | 0.80x |
| — | H.I.G. Bayside Loan Opp. Fund IV | N/M | — | 0.90x |
2015 vintage in CalPERS’s portfolio
All 12 funds of vintage 2015 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.
| # | Fund | Net IRR | TVPI | DPI |
|---|---|---|---|---|
| 1 | Lindsay Goldberg IV, L.P. | 28.8% | 2.00x | 1.74x |
| 2 | Clearlake Capital Partners IV, L.P. | 26.6% | 2.00x | 1.66x |
| 3 | Insight Venture Partners Growth-Buyout Coinvestment Fund (B), L.P. | 25.5% | 3.50x | 2.82x |
| 4 | Welsh, Carson, Anderson & Stowe XII, L.P. | 25.1% | 2.50x | 2.07x |
| 5 | Insight Venture Partners IX, L.P. | 23.1% | 4.10x | 2.71x |
| 6 | Centerbridge Capital Partners III, L.P. | 12.6% | 1.50x | 1.17x |
| 7 | Blackstone Tactical Opportunities Fund II - C L.P. | 12.2% | 1.50x | 1.32x |
| 8 | Bridgepoint Europe IV 'B' L.P. | 11.7% | 1.40x | 1.26x |
| 9 | TCP II Co-Invest B, L.P. | 10.3% | 1.70x | 1.66x |
| 10 | Clearlake Opportunities Partners (P), L.P. | 8.0% | 1.30x | 0.76x |
| 11 | Patria Brazilian Private Equity Fund V, L.P. | 7.2% | 1.50x | 0.31x |
| 12 | Bridgepoint Europe III 'C' L.P. | 4.2% | 1.20x | 1.13x |
Other reported funds by this firm
About this data
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
Greater Manchester Pension Fund (GMPF): GMPF Private Markets Investment Data: Private Equity and Venture Capital funds, as of December 31, 2025. GMPF lists its private equity and venture capital funds each quarter, each with the fund's currency, a commitment (net of cancelled amounts), cumulative drawdowns, cumulative distributions and a valuation, all in millions to two decimals, and a vintage year; it reports no multiple or IRR and prints no total. Shown here: commitment as committed, drawdowns as paid-in, distributions as distributed, the valuation as market value, and total value as distributions plus valuation (derived). TVPI and DPI are left blank because GMPF says performance metrics calculated from the data should not be used to compare returns among funds. Dollar amounts are converted: the amounts are read as millions of each fund's own currency (56 funds in US dollars, 53 in euro, 70 in pounds); the latest list prints a pound sign on every amount, including those of dollar and euro funds, while earlier lists in the same file print the same figures with no symbol, and GMPF does not say which is meant. Euro amounts are multiplied by 1.1736 and pound amounts by 1.3447 US dollars, the Federal Reserve's H.10 foreign exchange rates for 2025-12-31 (federalreserve.gov/releases/h10/hist/dat00_eu.htm and dat00_uk.htm), and rounded to the dollar; dollar amounts are as printed. Drawdowns and distributions made over many years are therefore converted at the 2025-12-31 rate, not the rates when the cash moved. The list goes back to funds of vintage 1981: 105 of the 179 funds have a valuation of zero. GMPF's own notes: valuations are provided by each fund's general partner or manager, have not necessarily been audited, may be older than the list's date with adjustments for later cash flows, and may not reflect realisable value. Since July 2018 GMPF has invested in private equity through the Northern LGPS joint venture, Northern Private Equity Pool LP, whose holdings are not in this list. View source
Los Angeles City Employees' Retirement System (LACERS): LACERS Private Equity Portfolio Performance Report, as of December 31, 2025. "Net IRR" and "Net TVPI" as printed in the fund-by-fund appendix of the Private Equity Portfolio Performance Report that LACERS posts semiannually (prepared on its private equity consultant's template; the cover gives www.aksia.com). The report defines TVPI as (cumulative distributions + fair market value) / cumulative contributions and labels IRRs of investments held less than two years "n.m."; 27 funds have no IRR (n.m., or "-" in the report) and 14 have no multiple ("-", mostly commitments with nothing contributed yet), all shown as blank. Dollar amounts are whole US dollars as reported (inception-to-date contributions and distributions). Total value = distributions + fair market value, and DPI = distributions / contributions, are computed. All 408 partnerships in the report are included: 305 active and 103 liquidated (no remaining fair market value), of which 23 are in LACERS' Specialized Portfolio and the rest in its Core Portfolio. LACERS counts 36 Credit/Distressed and 15 Natural Resources (energy) partnerships as private equity in this report, alongside buyout, growth equity, venture capital, secondaries, co-investment and fund-of-funds vehicles; its separate private credit and real estate reports are not imported. View source
Pennsylvania SERS: SERS Quarterly Private Equity Board Update, Schedule of Investments by Sector, as of December 31, 2025. IRR and TVM (total value multiple) as reported by SERS in a quarterly update prepared by StepStone Group. The schedule's column is headed "IRR"; the report says "Net IRR is net of managers' fees, expenses, and carried interest" and that, unless otherwise indicated, performance is net of fees and expenses charged by the underlying investment but gross of StepStone vehicle/account fees and expenses. It also says the figures were prepared by StepStone on behalf of SERS and not provided by any general partner, and that IRR and TVM for certain vehicles may have been impacted by subscription-backed credit facilities. Total value = market value + distributions; TVPI is SERS's TVM recomputed to two decimals from the reported amounts (SERS prints one decimal) and DPI = distributions / contributions is computed. SERS marks some partnerships NM ("Not Meaningful", no rule stated) and leaves the TVM and IRR cells, and usually the market value, empty for 29 others; those fields are blank here. Covers the buyout, growth equity and special situations partnerships on the schedule; the Keystone Legacy Fund line (SERS's pooled non-core legacy funds) and the separate legacy private credit schedule are not included. Commitments to non-USD funds reflect current exchange rates. 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.