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Rookies of the Year: Top first-time fund managers since 2000

First-time fund managers in the PE and VC industries often have a difficult time raising their debut funds, not to mention outperforming their peers once their funds close. The following table includes the top-performing debuts for PE, VC and funds-of-funds by vintage, and includes quite a few now-familiar names.

First-time fund managers in the PE and VC industries often have a difficult time raising their debut funds, not to mention outperforming their peers once their funds close. Blackstone’s Steve Schwarzman publicly cautioned budding PE fund managers earlier this year, and the risks are similar in the VC world. Why risk ruining your career trying to make it in the crowded PE and VC markets?

Well, in many cases, those first-time managers actually do pretty well. The table below includes the top-performing debuts for PE, VC and funds-of-funds by vintage, and includes quite a few now-familiar names. Easily the highest IRR recorded by any firm post-2000 goes to Union Square’s first fund, which has brought in 67% since debuting in 2005.

To get a closer look at more in-depth fund returns data, download our most recent Global PE & VC Benchmarking Reportfor free. And if you’d like to dig even deeper into our platform, schedule a free trial with a member of the PitchBook team.

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    Written by Alex Lykken
    Alex Lykken is a senior analyst at PitchBook, covering custom research projects and white papers across the PE, VC and M&A markets. He worked on PitchBook’s editorial team from 2012 to 2015 and re-joined in 2017 after a two-year stint at Goldman Sachs. He attended Central Washington University and studied history and political science.

    Outside of work, he spends his time fishing, golfing, writing, losing at fantasy football, and trying to keep up with his two-year-old lab.
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