Insight Venture Partners X
Insight Partners Vintage 2018 Reported by Colorado Public Employees' Retirement Association (Colorado PERA), Pennsylvania SERS, CalPERS
What each LP reports
| LP | As of | Committed | Paid in | Distributed | Remaining value | Net IRR | TVPI | DPI | Paid in vs. value |
|---|---|---|---|---|---|---|---|---|---|
| Colorado Public Employees' Retirement Association (Colorado PERA) | 2025-12-31 | $40M | $42M | $51M | — | 21.3% | — | 1.21x | |
| Pennsylvania SERS | 2025-12-31 | $100M | $105M | $124M | $173M | 21.3% | 2.83x | 1.18x | |
| CalPERS | 2025-12-31 | $250M | $262M | $306M | $433M | 21.3% | 2.80x | 1.17x |
Paid in Distributed Remaining value
2018 vintage in Colorado Public Employees' Retirement Association (Colorado PERA)’s portfolio
All 10 funds of vintage 2018 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 | Insight Venture Partners X | 21.3% | — | 1.21x |
| 2 | Kelso Investment Associates X, L.P. | 18.4% | — | 0.61x |
| 3 | LLR Equity Partners V | 18.1% | — | 0.74x |
| 4 | Francisco Partners V | 17.1% | — | 0.94x |
| 5 | Wellspring Capital Partners VI | 16.0% | — | 1.39x |
| 6 | Marlin Equity V | 15.8% | — | 0.62x |
| 7 | TPG Growth IV, L.P. | 13.7% | — | 1.00x |
| 8 | Lime Rock VIII | 11.3% | — | 0.96x |
| 9 | Foundry Group Next 2018, L.P. | 11.2% | — | 0.08x |
| 10 | GSO Capital Solutions Fund III | 9.3% | — | 1.07x |
2018 vintage in Pennsylvania SERS’s portfolio
All 12 funds of vintage 2018 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 V | 31.1% | 1.89x | 1.40x |
| 2 | Insight Venture Partners X | 21.3% | 2.83x | 1.18x |
| 3 | CVC Capital Partners VII | 19.9% | 2.15x | 1.13x |
| 4 | GTCR Fund XII | 18.8% | 1.88x | 1.23x |
| 5 | LLR Equity Partners V | 18.2% | 2.31x | 0.74x |
| 6 | Providence Strategic Growth III | 17.0% | 1.55x | 0.95x |
| 7 | TDR Capital IV | 15.9% | 1.75x | 0.32x |
| 8 | NGP XII | 15.3% | 1.64x | 1.06x |
| 9 | ICG Europe Fund VII | 14.2% | 1.64x | 1.24x |
| 10 | Silver Lake Partners V | 11.2% | 1.63x | 0.73x |
| — | Hahn & Company III | N/M | — | 0.41x |
| — | Hahn & Company III - Supplemental Fund | N/M | — | 0.28x |
2018 vintage in CalPERS’s portfolio
All 15 funds of vintage 2018 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 | Clearlake Capital Partners V, L.P. | 31.0% | 1.90x | 1.40x |
| 2 | Clayton, Dubilier & Rice Fund X, L.P. | 29.3% | 2.30x | 1.57x |
| 3 | Insight Venture Partners X, L.P. | 21.3% | 2.80x | 1.17x |
| 4 | CVC Capital Partners VII (A) L.P. | 19.8% | 2.10x | 1.27x |
| 5 | Tailwind Capital Partners III, L.P. | 17.2% | 1.70x | 0.52x |
| 6 | Carlyle Asia Partners V, L.P. | 15.2% | 1.30x | 0.85x |
| 7 | Silver Lake Technology Investors V, L.P. | 14.3% | 1.90x | 0.90x |
| 8 | Grandval, L.P. | 14.0% | 1.80x | 0.30x |
| 9 | TPG Growth IV, L.P. | 13.6% | 1.70x | 1.00x |
| 10 | Carlyle Partners VII, L.P. | 12.9% | 1.50x | 0.96x |
| 11 | Palladium Equity Partners V, L.P. | 12.7% | 1.60x | 0.66x |
| 12 | Blackstone Tactical Opportunities Fund III-C L.P. | 11.4% | 1.30x | 0.98x |
| 13 | Silver Lake Partners V, L.P. | 11.3% | 1.60x | 0.74x |
| 14 | Onex Partners V-B LP | 10.4% | 1.50x | 0.43x |
| 15 | The Rise Fund (A), L.P. | 9.5% | 1.50x | 0.63x |
Other reported funds by this firm
About this data
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
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.