Oregon State Treasury (OPERF)
Public pension plan Still adding venture funds
Oregon State Treasury (OPERF) reports 34 venture funds, $1.1B in all.
Holdings are from its report as of March 31, 2026. “Still adding venture funds”: its newest venture fund is a 2025 vintage, within 3 years of 2026.
The numbers
| Vintage | Venture funds |
|---|---|
| 2010 | 1 |
| 2011 | 1 |
| 2012 | 1 |
| 2013 | 1 |
| 2014 | 2 |
| 2015 | 0 |
| 2016 | 1 |
| 2017 | 2 |
| 2018 | 0 |
| 2019 | 2 |
| 2020 | 1 |
| 2021 | 3 |
| 2022 | 3 |
| 2023 | 0 |
| 2024 | 1 |
| 2025 | 2 |
Updates from Oregon State Treasury (OPERF)
Largest venture holdings
From its report as of March 31, 2026.
| Fund, as reported | Manager | Vintage | Commitment |
|---|---|---|---|
| Essex Woodlands Health Ventures Fund VIII | Ew Healthcare Partners | 2008 | $100M |
| Pine Brook Capital Partners | Pine Brook | 2007 | $100M |
| Pine Brook Capital Partners II | Pine Brook | 2012 | $100M |
| TCV VII | TCV | 2007 | $75M |
| Essex Woodlands Health Ventures Fund VII | Ew Healthcare Partners | 2006 | $50M |
In the app: 29 more venture funds, 10 funds of funds. Open Oregon State Treasury (OPERF) in LP Intelligence for every fund it holds and how to reach it, or find the LPs that back firms like yours.
How it invests
Long-term capital: it backs its managers again at least as often as the median LP that reports fund by fund, and stays with them longer. It backed 89% of its managers again when they raised a later fund (114 chances), and stays with a manager 7.7 years on average.
From its own report and published commitments. How it invests in LP Intelligence: whether it kept committing through 2022–23, how much goes to managers on Fund I–III, and what it committed to lately.
Recent commitments
| Date | Fund, as published | Manager | Approved | Source |
|---|---|---|---|---|
| December 1, 2025 | Francisco Partners Agility IV, L.P. | — | up to $100M | Document |
| December 1, 2025 | Francisco Partners VIII, L.P. | — | up to $250M | Document |
| December 1, 2025 | TPG Healthcare Partners III, L.P. | — | — | Document |
| December 1, 2025 | TPG Partners X, L.P. | — | — | Document |
| April 7, 2025 | Mayfield Select III, L.P. | Mayfield | up to $5.3M | Document |
| March 31, 2025 | Advent Global Technology III SCSp | — | up to $100M | Document |
| March 31, 2025 | Advent International Global Private Equity Fund XI SCSp | — | up to $250M | Document |
| December 13, 2024 | Advent Latin American Private Equity Fund VIII SCSp | — | up to $150M | Document |
| December 13, 2024 | GTCR Strategic Growth Fund II LP | — | up to $75M | Document |
| December 13, 2024 | KKR North America Fund XIV, SCSp | — | up to $350M | Document |
Its 10 commitments from the last 24 months to private equity and venture funds, as Oregon State Treasury (OPERF) published them. Dates are the day the plan gives. Amounts are ceilings: the most the plan approved committing, not closed commitments. What this plan publishes · every plan’s recent commitments.
LPs nearby
Within 100 miles, by city: a trip to one can take in the others.
- The Vibrant Village Foundation
- The Delaski Family Foundation
- Fairbridge Foundation
- The Lemelson Foundation
- The Harold & Arlene Schnitzer Care Foundation
- James F & Marion L Miller Foundation
- The Collins Foundation
- Yarg Foundation
16 LPs within 100 miles in all: see them on the map.
About this data
Holdings as this LP reports them, fund by fund. Amounts are its commitment to each fund. Fund performance it reports is on each firm’s page. As of March 31, 2026. Source: Oregon Public Employees Retirement Fund Private Equity Portfolio. Funds are linked to a manager by name; a match can be wrong, and the original filing is the record. How Hottub reads its sources.
Net of fees: IRR and total value multiple as reported by Oregon State Treasury ("Figures are net of fees"). Dollar amounts are reported in $ millions to one decimal and converted to whole dollars. Investments held less than three years are labeled n.m. (shown as blank). 94 funds were sold by OPERF in the secondary market; their figures reflect OPERF's holding period only.
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