Madison Dearborn — funds, providers and filings
Managers: all tracked managers · fund search & entity graph · private market performance
Registrations
- 2025-02-28 New fund vehicle registered: TANGO II INVESTMENTS, LLC (US-DE) entity register
- 2025-02-28 New fund vehicle registered: TANGO INVESTMENTS, LLC (US-DE) entity register
- 2025-02-27 New fund vehicle registered: MDCP INSURANCE SPV, L.P. (US-DE) entity register
| US-SEC-reported private funds — not a firm-wide AUM figure | $19.7bn gross · 63 funds Form ADV, through 2024 |
The US-reported view
The sections below draw on US regulatory filings — SEC Form ADV and Form D — and on US investors' own disclosures. They set out Madison Dearborn's US-reported slice: the funds, service providers, domiciles and activity visible in US filings, not its worldwide business.
1. US-SEC private funds
This page reports $19.7bn of gross asset value across 63 private funds that Madison Dearborn reports on SEC Form ADV, filings through 2024. It does not report firm-wide assets under management, a different measure on a different basis.
Worldwide, 9 registered fund vehicles are on file under its management companies, on the worldwide entity register (read 2026-10-05) — these are legal fund entities, not the share classes or products a manager markets.
| Registered fund vehicles worldwide (as at 2026-10-05) | 9 |
| Management entities on file (US filings · worldwide register) | 1 · 1 |
| Principal offices on file | Chicago, United States |
2. Service providers
Deloitte audits 51 of the 63 Madison Dearborn funds that name an auditor on Form ADV Schedule D, filings through 2024 — more than any other firm. Petra Funds Group, LLC administers 39 of the 39 that name an administrator, on the same filings. Relationships the filings attribute to Madison Dearborn's own group are part of its structure, not third-party appointments, and are left out of these counts.
Across the funds that disclose each role on Schedule D — the count is funds naming that provider, of funds disclosing the role at all:
| Fund administrator | Petra Funds Group, LLC (39 of 39) |
| Auditor | Deloitte (51 of 63); Plante & Moran, PLLC (9 of 63); RSM (3 of 63) |
| Custodian | J.P. Morgan (56 of 63); Raymond James (42 of 63); Deutsche Bank (7 of 63) — and 3 more |
3. Fund domiciles
51 of Madison Dearborn's 63 SEC-reported private funds are domiciled in Delaware, its largest single domicile on Form ADV, filings through 2024. Cayman Islands is next, and the bars below give the rest in order.
4. Fund performance
Every figure here is a disclosing pension plan's own, on that plan's own reporting date. Nothing is blended into a manager-level return, because no plan published one.
Per-fund net IRR, multiple and DPI as disclosed by the pension plans invested in the funds — the LPs' own numbers, on their own dates, not the manager's. One row per plan disclosure. Where two plans hold the same fund and report different numbers, both rows show, with their dates:
| Fund | Plan | Net IRR | Multiple | DPI | Reported as at | Source |
|---|---|---|---|---|---|---|
| Madison Dearborn Capital Partners VIII, L.P. | Washington WSIB | 11.9% | 1.4 | 0.44 | 31 December 2025 | WSIB private equity IRR report |
| Madison Dearborn Capital Partners VIII-A, L.P | Minnesota SBI | 11.2% | 1.34 | 0.45 | 31 March 2026 | Minnesota SBI private markets asset listing |
| Madison Dearborn Capital Partners VII, L.P. | Minnesota SBI | 9.8% | 1.65 | 0.86 | 31 March 2026 | Minnesota SBI private markets asset listing |
| Madison Dearborn Capital VII-A/B | CalSTRS | 13.3% | 1.86 | 1.04 | 30 June 2025 | CalSTRS private equity performance report |
| Madison Dearborn Capital Partners VI, L.P. | Washington WSIB | 23.2% | 2.2 | 2.16 | 31 December 2025 | WSIB private equity IRR report |
| Madison Dearborn Capital Partners V, L.P. | Washington WSIB | 7.5% | 1.6 | 1.55 | 31 December 2025 | WSIB private equity IRR report |
| Madison Dearborn Capital Partners IV, L.P. | Washington WSIB | 13.9% | 1.8 | 1.75 | 31 December 2025 | WSIB private equity IRR report |
| Madison Dearborn Capital Partners III, L.P. | Washington WSIB | 8.6% | 1.5 | 1.49 | 31 December 2025 | WSIB private equity IRR report |
Young vintages sit in the J-curve: an early negative IRR mostly reflects fees drawn before value is realised, and is not a verdict on the fund.
5. Known LP investors, from their own disclosures
Washington WSIB (5), Minnesota SBI (2), CalSTRS (1) — the count is this manager's funds appearing in that plan's disclosure.
6. Management entities
Madison Dearborn files Form ADV through 1 management entity; the largest is Madison Dearborn Partners, LLC, CRD 157349 of CHICAGO, with 63 of the 63 funds on this page. Every figure above rolls those filers up into one business. The table below traces each of them back to the entity that filed it, so a number can be checked against its own record rather than taken on trust.
US management entities on file (1 entities — together the 63 funds above)
| Entity | SEC CRD | City | Funds of the 63 |
|---|---|---|---|
| Madison Dearborn Partners, LLC | CRD 157349 | CHICAGO | 63 |
Management entities on the worldwide register (1 entities — together the 9 registered vehicles)
| Entity | Register ID | Fund vehicles |
|---|---|---|
| Madison Dearborn Partners, LLC | 2549009CVNLOG5MXQN92 | 9 |
7. Similar managers
Questions this page answers
What is Madison Dearborn's AUM?
This page reports $19.7bn of gross asset value across 63 private funds on SEC Form ADV, filings through 2024. It does not report firm-wide assets under management, a different measure on a different basis.
Who audits Madison Dearborn's funds?
Deloitte is named on 51 of the 63 US private funds whose filing discloses an auditor on Form ADV Schedule D (of Madison Dearborn's 63 filed with the SEC), filings through 2024. Plante & Moran, PLLC appears on 9 of the same filings.
Who administers Madison Dearborn's funds?
Petra Funds Group, LLC is named on 39 of the 39 US private funds whose filing discloses an administrator on Form ADV Schedule D (of Madison Dearborn's 63 filed with the SEC), filings through 2024.
How have Madison Dearborn's funds performed?
Madison Dearborn Capital Partners VII, L.P. returned a net IRR of 9.8% on a 1.65 multiple, as Minnesota SBI reported it for 31 March 2026. Madison Dearborn Capital Partners VIII-A, L.P returned a net IRR of 11.2% on a 1.34 multiple, as Minnesota SBI reported it for 31 March 2026.
Who invests in Madison Dearborn's funds?
Washington WSIB (5 funds), Minnesota SBI (2 funds) and CalSTRS (1 funds) name Madison Dearborn funds in their published disclosures. Coverage is limited to the plans this site follows, and a plan's absence says nothing about whether it invests.
How many funds does Madison Dearborn run?
Madison Dearborn has 9 registered fund vehicles on the worldwide entity register — legal fund entities, not the share classes or products a manager markets. Separately, it reports 63 private funds to the US SEC (Form ADV, through 2024) — a different register, counted on a different basis.
Where are Madison Dearborn's funds domiciled?
51 of the 63 funds are domiciled in Delaware, its largest single domicile on Form ADV, filings through 2024, followed by Cayman Islands with 11.
Where does Madison Dearborn file from?
Madison Dearborn Partners, LLC, CRD 157349, its largest Form ADV filer, gives its office as CHICAGO, United States. The other filers' offices are in the entity table on this page.
Is Madison Dearborn registered with the SEC?
Yes. Its filings run through 1 management entities, the largest being Madison Dearborn Partners, LLC, CRD 157349, with 63 of the 63 funds here.
See also: all tracked managers · fund search & entity graph.