Private Equity Program Fund Performance Review
As of June 30, 2022, the since inception Net IRR is 11.2% and the Net Multiple is 1.5x.
The table below reflects the performance of all active PE partnership investments as of June 30, 2022. At the end of each quarter, the General Partners report on the value of invested capital. The General Partners have 120 days to provide Limited Partners with financial data, so there is generally a 2-quarter delay in performance reporting.
The table is updated quarterly and provides information on the status of all active CalPERS private equity commitments; it doesn't include any exited partnership investments.
- The Fund column lists the names of all active partnership investments.
- Vintage Year is the year in which CalPERS’ first cash flow for the investment occurred.
- Capital Committed identifies the original amount CalPERS committed to each fund.
- Cash In represents capital contributed for investments and management fees.
- Cash Out represents distributions CalPERS has received back from the fund.
- Cash Out & Remaining Value represents the distributions CalPERS has received plus the reported value of the invested capital.
- Net IRR is the Net Internal Rate of Return based on CalPERS’ actual cash flows and the reported value of the invested capital.
- Investment Multiple is the Cash Out & Remaining Value divided by the Cash In.
In evaluating private equity performance, CalPERS emphasizes using both the realized Internal Rate of Return (IRR) and Investment Multiple. Interim IRRs by themselves are not the best indicators of current or future fund performance.
The IRR is calculated based on CalPERS records of cash flows and financial statements from the investment managers.
| Fund | Vintage Year | Capital Committed | Cash In | Cash Out | Cash Out & Remaining Value | Net IRR | Investment Multiple |
|---|---|---|---|---|---|---|---|
| Fund | Vintage Year | ||||||
| 57 Stars Global Opportunities Fund 2 (CalPERS), LLC | 2009 | $500,000,000 | $513,448,212 | $408,793,122 | $810,747,843 | 8.3% | 1.6x |
| 57 Stars Global Opportunities Fund, LLC | 2007 | $430,000,000 | $413,789,106 | $547,610,272 | $576,845,777 | 6.1% | 1.4x |
| AACP AP Investors, L.P. | 2007 | $14,108,080 | $14,918,901 | $16,898,666 | $16,951,270 | 2.1% | 1.1x |
| AACP China Growth Investors | 2007 | $50,000,000 | $51,978,058 | $82,160,460 | $84,066,938 | 7.9% | 1.6x |
| AACP India Investors B | 2007 | $5,000,000 | $5,214,969 | $17,632,036 | $21,106,437 | 13.1% | 4.0x |
| AACP India Investors C | 2009 | $5,000,000 | $5,177,299 | $1,985,865 | $9,587,215 | 8.3% | 1.9x |
| AACP India Venture Investors A | 2007 | $5,000,000 | $5,065,536 | $5,653,594 | $5,772,080 | 2.1% | 1.1x |
| Aberdare Ventures IV, LP | 2008 | $50,000,000 | $50,027,412 | $41,334,436 | $41,334,436 | -3.4% | 0.8x |
| Advent Global Technology II Limited Partnership | 2022 | $150,000,000 | $33,802,551 | $0 | $31,156,734 | N/M 1 | N/M 1 |
| Advent International GPE IX Limited Partnership | 2019 | $550,000,000 | $380,920,287 | $43,978,033 | $712,803,070 | 48.9% 1 | 1.9x 1 |
| Advent International GPE V-D, L.P. | 2005 | $80,694,776 | $77,609,736 | $185,526,402 | $187,444,560 | 42.7% | 2.4x |
| Advent International GPE VI-A, L.P. | 2008 | $500,000,000 | $502,306,204 | $1,006,375,016 | $1,052,022,734 | 16.5% | 2.1x |
| Advent International GPE VII-C, L.P. | 2012 | $450,000,000 | $428,232,784 | $695,510,966 | $788,712,294 | 13.8% | 1.8x |
| Advent International GPE VIII-B Limited Partnership | 2016 | $500,000,000 | $500,000,000 | $365,227,167 | $963,863,682 | 19.6% | 1.9x |
| Advent Latin America Private Equity Fund IV-D, L.P. | 2007 | $200,000,000 | $205,332,365 | $302,177,631 | $302,177,631 | 8.6% | 1.5x |
| Advent Latin America Private Equity Fund V-H L.P. | 2010 | $100,000,000 | $96,252,690 | $97,652,308 | $97,652,308 | 0.2% | 1.0x |
| Advent Latin American Private Equity Fund III-D L.P. | 2006 | $50,000,000 | $49,386,333 | $72,200,284 | $72,200,284 | 9.6% | 1.5x |
| Affinity Asia Pacific Fund III L.P. | 2007 | $150,000,000 | $155,064,800 | $211,331,584 | $221,502,775 | 9.3% | 1.4x |
| Aisling Capital II, LP | 2006 | $80,000,000 | $100,994,319 | $99,084,187 | $101,862,659 | 0.2% | 1.0x |
| Aisling Capital III, LP | 2008 | $90,000,000 | $113,023,085 | $252,608,490 | $253,215,419 | 26.4% | 2.2x |
| AlpInvest Secondaries Fund (onshore) VII, L.P. | 2021 | $500,000,000 | $162,746,218 | $34,096,485 | $203,428,685 | N/M 1 | N/M 1 |
| Apollo European Principal Finance Fund, L.P. | 2008 | $91,992,688 | $165,281,284 | $200,770,615 | $200,919,816 | 11.9% | 1.2x |
| Apollo Investment Fund IV, L.P. | 1998 | $150,000,000 | $154,085,315 | $254,289,011 | $254,289,011 | 8.5% | 1.7x |
| Apollo Investment Fund IX, L.P | 2019 | $550,000,000 | $410,913,768 | $141,913,064 | $576,270,294 | 28.4% 1 | 1.4x 1 |
| Apollo Investment Fund V, L.P. | 2001 | $250,000,000 | $388,164,138 | $776,929,038 | $779,019,351 | 37.5% | 2.0x |
| Apollo Investment Fund VI, L.P. | 2006 | $520,000,000 | $866,357,105 | $1,218,417,644 | $1,227,905,369 | 8.2% | 1.4x |
| Apollo Investment Fund VII, L.P. | 2008 | $800,000,000 | $1,203,335,917 | $1,947,503,214 | $1,960,215,597 | 22.0% | 1.6x |
| Apollo Investment Fund VIII, L.P. | 2013 | $500,000,000 | $485,412,543 | $494,291,156 | $722,649,797 | 10.5% | 1.5x |
| Apollo Special Opportunities Managed Account, L.P. | 2007 | $800,000,000 | $800,000,000 | $1,038,378,285 | $1,091,904,066 | 3.8% | 1.4x |
| ArcLight Energy Partners Fund III, L.P. | 2006 | $200,000,000 | $212,312,180 | $314,980,433 | $314,980,433 | 8.6% | 1.5x |
| ArcLight Energy Partners Fund IV, L.P. | 2007 | $250,000,000 | $255,794,752 | $388,365,992 | $388,847,672 | 12.6% | 1.5x |
| Ares Corporate Opportunities Fund II, L.P. | 2006 | $200,000,000 | $224,963,782 | $371,474,471 | $371,825,707 | 13.0% | 1.7x |
| Ares Corporate Opportunities Fund III, L.P. | 2008 | $400,000,000 | $512,078,628 | $1,059,418,691 | $1,068,960,067 | 20.3% | 2.1x |
| Ares Corporate Opportunities Fund V, L.P. | 2017 | $425,000,000 | $460,457,913 | $199,441,493 | $622,012,034 | 11.3% | 1.4x |
| Ares Corporate Opportunities Fund VI, L.P. | 2021 | $250,000,000 | $156,226,600 | $39,798,348 | $176,520,027 | N/M 1 | N/M 1 |
| Ares Corporate Opportunities Fund, L.P. | 2003 | $100,000,000 | $135,853,818 | $195,665,318 | $195,828,567 | 12.8% | 1.4x |
| Arsenal Capital Partners Growth LP | 2022 | $50,000,000 | $8,004,509 | $2,428 | $5,952,643 | N/M 1 | N/M 1 |
| Arsenal Capital Partners VI LP | 2022 | $150,000,000 | $22,089,347 | $0 | $18,479,761 | N/M 1 | N/M 1 |
| ASF VIII B L.P. | 2020 | $300,000,000 | $132,274,064 | $21,734,410 | $213,623,378 | 42.6% 1 | 1.6x 1 |
| Asia Alternatives Capital Partners II LP | 2008 | $48,933,451 | $50,325,826 | $104,565,037 | $132,643,650 | 17.5% | 2.6x |
| Asia Alternatives Capital Partners, LP | 2007 | $50,000,000 | $53,499,274 | $92,729,098 | $98,240,143 | 11.3% | 1.8x |
| Avenue Asia Special Situations Fund IV, L.P. | 2006 | $300,000,000 | $271,629,915 | $297,297,571 | $297,297,571 | 2.0% | 1.1x |
| Avenue Special Situations Fund IV, L.P. | 2006 | $150,000,000 | $150,000,000 | $212,523,413 | $212,523,413 | 8.6% | 1.4x |
| Avenue Special Situations Fund V, L.P. | 2007 | $400,000,000 | $473,059,573 | $607,116,534 | $607,116,534 | 11.3% | 1.3x |
| Avenue Special Situations Fund VI (A), L.P. | 2011 | $150,000,000 | $153,254,923 | $164,585,575 | $164,585,575 | 1.6% | 1.1x |
| Baring Vostok Private Equity Fund IV L.P. / Supplemental | 2007 | $77,775,000 | $91,865,849 | $96,539,856 | $99,475,303 | 1.5% | 1.1x |
| Base10 Partners III, L.P. | 2022 | $50,000,000 | $6,961,223 | $0 | $6,205,902 | N/M 1 | N/M 1 |
| BDC III C LP | 2017 | $130,054,424 | $114,707,044 | $115,336,928 | $295,776,643 | 41.6% | 2.6x |
| BDC IV D LP | 2021 | $196,673,055 | $21,011,620 | $0 | $15,568,473 | N/M 1 | N/M 1 |
| BE VI 'H' L.P. | 2019 | $389,635,131 | $315,403,986 | $30,862,110 | $447,655,115 | 26.4% 1 | 1.4x 1 |
| Bear Technology Fund, L.P. | 2021 | $100,000,000 | $65,092,900 | $0 | $71,053,184 | N/M 1 | N/M 1 |
| Berkshire Fund X, L.P. | 2021 | $500,000,000 | $59,930,698 | $6,104,285 | $80,009,801 | N/M 1 | N/M 1 |
| Birch Hill Equity Partners (US) III, LP | 2005 | $125,893,516 | $142,211,315 | $266,973,516 | $270,759,591 | 12.1% | 1.9x |
| Birch Hill Equity Partners (US) IV, LP | 2011 | $137,042,767 | $131,874,767 | $204,762,322 | $346,855,060 | 16.3% | 2.6x |
| Blackstone / GSO Capital Solutions Fund, LP | 2010 | $250,000,000 | $362,730,003 | $437,389,265 | $439,732,682 | 9.4% | 1.2x |
| Blackstone Capital Partners IV L.P. | 2003 | $200,000,000 | $229,551,102 | $563,189,334 | $563,189,334 | 36.3% | 2.5x |
| Blackstone Capital Partners V L.P. | 2006 | $600,000,000 | $794,822,847 | $1,222,737,110 | $1,222,737,110 | 7.8% | 1.5x |
| Blackstone Capital Partners VI L.P. | 2011 | $500,000,000 | $542,222,857 | $786,031,431 | $941,536,658 | 12.5% | 1.7x |
| Blackstone Capital Partners VII, L.P. | 2016 | $500,000,000 | $517,315,284 | $447,795,954 | $861,079,161 | 18.5% | 1.7x |
| Blackstone Capital Partners VIII, L.P. | 2021 | $750,000,000 | $298,369,219 | $236,549,445 | $359,457,767 | N/M 1 | N/M 1 |
| Blackstone Communications Partners I L.P. | 2000 | $100,000,000 | $111,226,418 | $135,473,542 | $136,203,850 | 6.5% | 1.2x |
| Blackstone Core Equity Partners II, L.P. | 2021 | $1,000,000,000 | $174,703,580 | $0 | $180,514,777 | N/M 1 | N/M 1 |
| Blackstone Tactical Opportunities Fund - C L.P. | 2012 | $800,000,000 | $986,392,427 | $1,216,776,027 | $1,348,441,167 | 9.9% | 1.4x |
| Blackstone Tactical Opportunities Fund II - C L.P. | 2015 | $500,000,000 | $476,635,901 | $574,411,017 | $731,562,761 | 14.1% | 1.5x |
| Blackstone Tactical Opportunities Fund III-C (Surge) L.P. | 2019 | $500,000,000 | $278,072,843 | $70,252,966 | $330,340,996 | 11.7% 1 | 1.2x 1 |
| Blackstone Tactical Opportunities Fund III-C L.P. | 2018 | $350,000,000 | $337,328,600 | $110,924,162 | $427,740,250 | 15.9% 1 | 1.3x 1 |
| Bridgepoint Europe II 'A' LP | 2001 | $112,510,252 | $127,309,360 | $227,397,574 | $227,397,574 | 29.3% | 1.8x |
| Bridgepoint Europe II 'C' L.P. | 2015 | $25,055,593 | $1,914,485 | $683,202 | $683,202 | -27.4% | 0.4x |
| Bridgepoint Europe III 'C' L.P. | 2015 | $25,056,170 | $16,760,648 | $13,270,286 | $19,502,366 | 4.1% | 1.2x |
| Bridgepoint Europe III 'D' LP | 2005 | $194,226,963 | $191,932,333 | $194,762,790 | $231,819,456 | 2.3% | 1.2x |
| Bridgepoint Europe IV 'B' L.P. | 2015 | $82,744,467 | $67,960,669 | $78,211,557 | $94,853,503 | 13.3% | 1.4x |
| Bridgepoint Europe IV 'D' LP | 2008 | $397,514,528 | $391,605,384 | $543,455,711 | $606,606,651 | 9.6% | 1.5x |
| Bridgepoint Europe V | 2014 | $397,525,582 | $379,562,735 | $519,986,716 | $829,978,788 | 22.3% | 2.2x |
| BRV Lotus Fund III, L.P. | 2022 | $100,000,000 | $59,419,619 | $0 | $54,453,283 | N/M 1 | N/M 1 |
| Butterfly II, LP | 2022 | $125,000,000 | $40,931,584 | $0 | $41,098,206 | N/M 1 | N/M 1 |
| California Asia Investors, L.P. | 2008 | $150,000,000 | $149,378,471 | $578,155,197 | $647,691,820 | 26.8% | 4.3x |
| California Community Venture Fund, LLC | 2003 | $100,000,000 | $100,067,655 | $88,478,382 | $93,490,269 | -1.1% | 0.9x |
| California Emerging Ventures II, LLC | 1999 | $1,339,569,396 | $1,391,089,668 | $1,718,145,285 | $1,718,145,285 | 3.9% | 1.2x |
| California Emerging Ventures III, LLC | 2001 | $510,129,981 | $618,912,695 | $856,193,710 | $856,398,812 | 7.2% | 1.4x |
| California Emerging Ventures IV, LLC | 2006 | $462,743,016 | $488,627,791 | $833,978,824 | $926,192,652 | 12.1% | 1.9x |
| California Emerging Ventures, LLC | 1999 | $952,944,894 | $1,096,189,129 | $1,270,832,900 | $1,270,832,900 | 3.5% | 1.2x |
| California Mezzanine Investment Fund, L.P. | 2016 | $80,000,000 | $48,799,508 | $52,550,674 | $59,053,778 | 7.0% | 1.2x |
| California Partners, L.P. | 2020 | $350,000,000 | $212,929,026 | $0 | $230,786,320 | 8.5% 1 | 1.1x 1 |
| CalPERS Clean Energy & Technology Fund, LLC | 2007 | $465,000,000 | $468,423,814 | $132,249,749 | $174,356,774 | -13.1% | 0.4x |
| CalPERS Corporate Partners, LLC | 2001 | $500,000,000 | $533,507,990 | $831,997,162 | $831,997,403 | 9.3% | 1.6x |
| CalPERS Wellspring V, L.P. | 2011 | $24,975,000 | $26,651,935 | $43,988,533 | $52,607,078 | 22.2% | 2.0x |
| Capital Link Fund I, LLC | 2007 | $502,000,000 | $600,796,367 | $833,027,058 | $901,003,304 | 7.7% | 1.5x |
| Capital Link Fund II, LLC | 2008 | $435,000,000 | $470,872,364 | $738,570,204 | $794,637,692 | 12.0% | 1.7x |
| Carlyle Asia Growth Partners III, L.P. | 2005 | $75,000,000 | $84,766,869 | $78,177,512 | $78,177,512 | -1.4% | 0.9x |
| Carlyle Asia Growth Partners IV, L.P. | 2008 | $150,000,000 | $164,706,974 | $162,920,309 | $177,310,246 | 1.9% | 1.1x |
| Carlyle Asia Partners II, L.P. | 2006 | $150,000,000 | $168,387,337 | $256,858,991 | $257,764,039 | 8.2% | 1.5x |
| Carlyle Asia Partners III, L.P. | 2008 | $300,000,000 | $371,770,176 | $561,482,145 | $582,239,510 | 12.0% | 1.6x |
| Carlyle Asia Partners V, L.P. | 2018 | $250,000,000 | $159,333,129 | $45,861,642 | $192,864,996 | 14.6% 1 | 1.2x 1 |
| Carlyle Europe Partners II, L.P. | 2003 | $73,855,965 | $93,146,528 | $148,369,780 | $148,792,826 | 19.7% | 1.6x |
| Carlyle Europe Partners III, L.P. | 2007 | $421,317,621 | $461,294,170 | $740,226,900 | $744,492,575 | 11.1% | 1.6x |
| Carlyle Europe Partners V, S.C.Sp. | 2019 | $333,490,892 | $244,829,237 | $10,079,288 | $289,351,096 | 11.3% 1 | 1.2x 1 |
| Carlyle Europe Technology Partners II, L.P. | 2008 | $102,501,624 | $110,519,643 | $203,697,499 | $205,408,013 | 16.2% | 1.9x |
| Carlyle Global Financial Services Partners, L.P. | 2008 | $150,000,000 | $191,950,088 | $322,013,690 | $322,619,885 | 13.7% | 1.7x |
| Carlyle Japan Partners II, L.P. | 2006 | $158,219,147 | $162,883,301 | $175,541,559 | $175,541,559 | 1.4% | 1.1x |
| Carlyle Mexico Partners, L.P. | 2005 | $25,000,000 | $30,874,091 | $37,552,281 | $37,552,281 | 7.9% | 1.2x |
| Carlyle Partners IV L.P. | 2005 | $300,000,000 | $315,731,007 | $665,380,421 | $665,380,421 | 14.5% | 2.1x |
| Carlyle Partners V, L.P. | 2007 | $800,000,000 | $1,067,512,609 | $1,675,804,835 | $1,753,633,941 | 12.9% | 1.6x |
| Carlyle Partners VI, L.P. | 2013 | $547,000,000 | $594,697,572 | $818,247,310 | $1,225,346,127 | 17.2% | 2.1x |
| Carlyle Partners VII, L.P. | 2018 | $600,000,000 | $579,610,754 | $19,558,650 | $698,276,159 | 9.6% 1 | 1.2x 1 |
| Carlyle Partners VIII, L.P. | 2022 | $375,000,000 | $12,152,168 | $0 | $9,148,540 | N/M 1 | N/M 1 |
| Carlyle Realty Partners III, L.P. | 2001 | $50,000,000 | $66,680,614 | $158,781,563 | $159,044,855 | 28.2% | 2.4x |
| Carlyle Strategic Partners II, L.P. | 2007 | $75,000,000 | $148,924,890 | $190,708,651 | $193,523,250 | 11.4% | 1.3x |
| Carlyle Strategic Partners IV, L.P. | 2016 | $150,000,000 | $172,607,626 | $79,990,252 | $192,702,903 | 8.0% | 1.1x |
| Carlyle U.S. Equity Opportunities II, L.P. | 2015 | $200,000,000 | $197,368,463 | $182,183,830 | $315,098,025 | 14.4% | 1.6x |
| Carlyle U.S. Growth Fund III, L.P. | 2006 | $75,000,000 | $92,197,113 | $121,587,162 | $123,096,917 | 7.3% | 1.3x |
| Carlyle Venture Partners II, L.P. | 2001 | $50,000,000 | $77,961,078 | $77,144,623 | $77,254,260 | -0.2% | 1.0x |
| Carlyle/Riverstone Global Energy and Power Fund III, L.P. | 2005 | $250,000,000 | $267,297,504 | $343,371,353 | $346,701,868 | 5.8% | 1.3x |
| Castlelake I, L.P. | 2007 | $75,000,000 | $76,962,343 | $100,569,781 | $100,569,781 | 3.9% | 1.3x |
| CDH Fund V, L.P. | 2014 | $200,000,000 | $226,327,437 | $190,420,588 | $332,074,960 | 9.3% | 1.5x |
| Cedar Street Partners LP | 2021 | $250,000,000 | $138,741,406 | $0 | $144,593,812 | N/M 1 | N/M 1 |
| Centerbridge Capital Partners III, L.P. | 2015 | $150,000,000 | $195,086,898 | $168,735,743 | $324,890,269 | 18.9% | 1.7x |
| Cerberus CAL II Partners, L.P. | 2017 | $500,000,000 | $423,762,376 | $244,257,426 | $843,833,111 | 22.1% | 2.0x |
| Cerberus CAL III Partners, L.P. | 2019 | $500,000,000 | $413,309,937 | $15,408,997 | $366,737,923 | -9.6% 1 | 0.9x 1 |
| Cerberus CP Partners LP | 2013 | $600,000,000 | $674,624,184 | $972,068,430 | $1,544,546,732 | 18.9% | 2.3x |
| Cerberus Institutional Partners V, L.P. | 2012 | $400,000,000 | $479,288,769 | $736,831,002 | $928,620,467 | 14.6% | 1.9x |
| China Privatization Fund (Del), L.P. | 2006 | $100,000,000 | $69,317,995 | $133,415,962 | $133,415,962 | 13.7% | 1.9x |
| Clarus Lifesciences I, L.P. | 2006 | $45,000,000 | $40,633,087 | $50,119,460 | $50,119,460 | 3.6% | 1.2x |
| Clarus Lifesciences II, L.P. | 2008 | $75,000,000 | $71,456,123 | $130,579,083 | $130,579,083 | 14.5% | 1.8x |
| Clayton, Dubilier & Rice Fund X, L.P. | 2018 | $150,000,000 | $151,252,938 | $147,089,527 | $338,550,780 | 43.6% 1 | 2.2x 1 |
| Clayton, Dubilier & Rice Fund XI, L.P. | 2021 | $500,000,000 | $194,405,894 | $6,126,020 | $213,876,377 | N/M 1 | N/M 1 |
| Clearlake Capital Partners III, LP | 2012 | $50,000,000 | $70,431,720 | $190,121,616 | $204,357,805 | 40.8% | 2.9x |
| Clearlake Capital Partners IV, L.P. | 2015 | $56,700,000 | $86,538,542 | $126,495,228 | $185,580,489 | 32.2% | 2.1x |
| Clearlake Capital Partners V, L.P. | 2018 | $75,000,000 | $100,549,699 | $114,012,526 | $227,171,412 | 49.5% 1 | 2.3x 1 |
| Clearlake Capital Partners VII, L.P. | 2022 | $350,000,000 | $109,487,504 | $8,519 | $104,743,681 | N/M 1 | N/M 1 |
| Clearlake Opportunities Partners (P), L.P. | 2015 | $56,700,000 | $65,670,997 | $31,461,852 | $96,457,346 | 13.4% | 1.5x |
| Clearwater Capital Partners Fund I, L.P. | 2007 | $7,381,847 | $41,735,012 | $35,355,880 | $35,355,880 | -5.1% | 0.8x |
| Clearwater Capital Partners Fund II Holdings, L.P. | 2005 | $54,375,000 | $63,248,745 | $79,438,258 | $79,438,258 | 4.4% | 1.3x |
| Clearwater Capital Partners Fund III, L.P. | 2006 | $150,000,000 | $150,000,000 | $151,031,855 | $170,341,523 | 1.9% | 1.1x |
| Clearwater ICPL Co-Investment Fund, L.P. | 2017 | $8,594,302 | $8,594,302 | $8,594,302 | $8,594,302 | 0.0% | 1.0x |
| Coller International Partners V-A, L.P. | 2006 | $375,000,000 | $322,288,690 | $438,027,293 | $443,047,973 | 7.5% | 1.4x |
| Craton Equity Investors I, L.P. | 2007 | $38,153,846 | $39,336,050 | $5,300,141 | $5,300,141 | -32.8% | 0.1x |
| CVC Capital Partners Asia V L.P. | 2020 | $200,000,000 | $94,827,481 | $0 | $110,550,063 | 26.0% 1 | 1.2x 1 |
| CVC Capital Partners Strategic Opportunities Compounding Capital L.P. | 2017 | $1,004,181,850 | $1,048,873,352 | $542,924,496 | $1,636,377,384 | 12.8% | 1.6x |
| CVC Capital Partners VI, L.P. | 2014 | $578,880,742 | $651,533,742 | $575,906,367 | $1,277,834,946 | 18.3% | 2.0x |
| CVC Capital Partners VII (A) L.P. | 2018 | $559,968,087 | $502,205,585 | $69,875,977 | $822,267,798 | 26.5% 1 | 1.6x 1 |
| CVC Capital Partners VIII (A) L.P. | 2021 | $796,031,386 | $164,407,079 | $0 | $180,985,240 | N/M 1 | N/M 1 |
| CVC Credit Strategic Investment A L.P. | 2014 | $202,884,328 | $166,936,340 | $240,442,261 | $240,530,411 | 19.6% | 1.4x |
| CVC European Equity Partners III LP | 2001 | $200,000,000 | $234,497,567 | $592,407,402 | $607,466,179 | 41.0% | 2.6x |
| CVC European Equity Partners IV (D) L.P. | 2005 | $334,529,669 | $406,865,452 | $726,781,649 | $727,201,185 | 17.2% | 1.8x |
| CVC European Equity Partners Tandem Fund (B) L.P. | 2007 | $477,854,304 | $570,492,765 | $734,978,678 | $735,199,577 | 6.8% | 1.3x |
| CVC European Equity Partners V (B) L.P. | 2008 | $577,362,181 | $710,667,384 | $1,287,378,722 | $1,305,397,614 | 16.4% | 1.8x |
| Dragoneer Opportunities Fund VI, L.P. | 2022 | $50,000,000 | $6,288,396 | $0 | $4,631,113 | N/M 1 | N/M 1 |
| DS Opportunities (C) LP | 2021 | $162,708,283 | $108,903,478 | $0 | $137,988,731 | N/M 1 | N/M 1 |
| EMAlternatives Investments, L.P. | 2007 | $100,000,000 | $115,868,170 | $122,465,630 | $139,607,823 | 3.6% | 1.2x |
| EQT IX (No.2) USD SCSp | 2021 | $750,000,000 | $652,550,664 | $65,549,079 | $747,213,004 | N/M 1 | N/M 1 |
| Essex Woodlands Health Ventures Fund VIII, L.P. | 2008 | $125,000,000 | $127,644,136 | $111,021,861 | $111,021,861 | -2.5% | 0.9x |
| EW Healthcare Partners Acquisition Fund, L.P. | 2021 | $38,998,130 | $39,041,648 | $45,225,544 | $45,225,544 | N/M 1 | N/M 1 |
| First Reserve Fund XI, L.P. | 2006 | $500,000,000 | $570,173,986 | $390,721,510 | $390,983,960 | -9.4% | 0.7x |
| First Reserve Fund XII, L.P. | 2008 | $300,000,000 | $347,752,414 | $194,724,183 | $194,724,183 | -15.4% | 0.6x |
| First Reserve Fund XIII, LP | 2014 | $400,000,000 | $468,957,422 | $181,551,689 | $449,742,625 | -1.5% | 1.0x |
| Forecastle, L.P. | 2020 | $500,000,000 | $278,111,116 | $0 | $278,258,849 | 0.1% 1 | 1.0x 1 |
| Fourth Street Partners - CPS L.P. | 2021 | $500,000,000 | $360,000,000 | $0 | $359,839,418 | N/M 1 | N/M 1 |
| Francisco Partners Agility II, L.P. | 2020 | $50,000,000 | $23,000,000 | $0 | $25,595,919 | 13.7% 1 | 1.1x 1 |
| Francisco Partners II, L.P. | 2006 | $175,000,000 | $174,005,517 | $257,478,031 | $286,982,027 | 10.4% | 1.6x |
| Francisco Partners III, L.P. | 2011 | $100,000,000 | $95,284,663 | $284,081,776 | $329,335,684 | 23.7% | 3.5x |
| Francisco Partners VI, L.P. | 2021 | $250,000,000 | $110,125,000 | $0 | $124,240,202 | N/M 1 | N/M 1 |
| Francisco Partners, L.P. | 2000 | $50,000,000 | $52,654,785 | $66,630,510 | $66,630,510 | 4.4% | 1.3x |
| GCM Grosvenor DEM II, L.P. | 2014 | $250,000,000 | $247,058,221 | $158,030,522 | $410,737,210 | 19.0% | 1.7x |
| GCM Grosvenor DEM III, L.P. | 2019 | $550,000,000 | $286,043,528 | $58,781,716 | $414,562,764 | 33.2% 1 | 1.4x 1 |
| GCM Grosvenor DEM, L.P. | 2012 | $100,000,000 | $112,668,372 | $99,903,001 | $156,096,160 | 10.2% | 1.4x |
| General Atlantic Managed Account | 2020 | $750,000,000 | $484,671,676 | $0 | $512,271,800 | 5.1% 1 | 1.1x 1 |
| Genstar Capital Partners X, L.P. | 2021 | $100,000,000 | $20,506,176 | $0 | $21,182,185 | N/M 1 | N/M 1 |
| Genstar X Opportunities Fund I, L.P. | 2021 | $150,000,000 | $41,218,700 | $0 | $43,141,756 | N/M 1 | N/M 1 |
| Golden State Investment Fund, LLC | 2006 | $533,058,824 | $521,614,092 | $816,997,677 | $816,997,677 | 8.2% | 1.6x |
| Grandval II, L.P. | 2019 | $850,000,000 | $600,553,959 | $0 | $813,200,166 | 24.8% 1 | 1.4x 1 |
| Grandval, L.P. | 2018 | $50,000,000 | $49,613,644 | $0 | $69,088,162 | 27.4% 1 | 1.4x 1 |
| GranTain Co-Invest L.P. | 2021 | $200,000,000 | $94,329,684 | $0 | $93,876,298 | N/M 1 | N/M 1 |
| Green Equity Investors CF II, L.P. | 2021 | $60,537,375 | $60,708,143 | $0 | $64,132,880 | N/M 1 | N/M 1 |
| Green Equity Investors CF, L.P. | 2021 | $186,639,450 | $171,802,019 | $72,383,431 | $223,401,892 | N/M 1 | N/M 1 |
| Green Equity Investors V, L.P. | 2007 | $400,000,000 | $445,782,126 | $1,019,515,541 | $1,032,224,149 | 18.5% | 2.3x |
| Green Equity Investors VIII, L.P. | 2020 | $600,000,000 | $464,238,010 | $656,993 | $496,988,356 | 7.4% 1 | 1.1x 1 |
| Greenleaf Co-Invest Partners, L.P. | 2021 | $975,000,000 | $373,271,424 | $0 | $407,866,333 | N/M 1 | N/M 1 |
| GSO Capital Opportunities Fund II L.P. | 2011 | $250,000,000 | $311,852,980 | $376,622,785 | $392,954,325 | 10.7% | 1.3x |
| GSO Capital Opportunities Fund L.P. | 2008 | $100,000,000 | $166,000,936 | $228,800,483 | $230,638,862 | 17.1% | 1.4x |
| GSO Capital Solutions Fund II, L.P. | 2014 | $500,000,000 | $536,600,603 | $511,198,970 | $545,801,132 | 1.1% | 1.0x |
| GSO Energy Partners-C II LP | 2016 | $250,000,000 | $229,053,911 | $236,256,917 | $283,317,775 | 7.2% | 1.2x |
| GSO Energy Partners-C LP | 2013 | $400,000,000 | $474,764,124 | $318,679,817 | $391,962,373 | -5.2% | 0.8x |
| H.I.G. Europe Middle Market LBO Fund, L.P. | 2021 | $105,050,973 | $6,491,793 | $0 | $6,437,023 | N/M 1 | N/M 1 |
| Hellman & Friedman Capital Partners IX, L.P. | 2020 | $650,000,000 | $656,628,187 | $38,891,434 | $801,754,757 | 14.9% 1 | 1.2x 1 |
| Hellman & Friedman Capital Partners VI | 2007 | $600,000,000 | $612,793,602 | $1,107,211,455 | $1,121,328,586 | 12.9% | 1.8x |
| Hellman & Friedman Capital Partners VII | 2011 | $300,000,000 | $286,761,663 | $899,272,456 | $956,267,525 | 24.7% | 3.3x |
| Hellman & Friedman Capital Partners VIII, L.P. | 2016 | $500,000,000 | $511,984,227 | $267,782,195 | $966,737,788 | 18.8% | 1.9x |
| Hellman & Friedman Capital Partners X, L.P. | 2021 | $1,000,000,000 | $541,347,126 | $0 | $501,665,803 | N/M 1 | N/M 1 |
| ICV Partners II, L.P. | 2005 | $31,220,000 | $40,135,407 | $61,947,907 | $62,033,027 | 11.8% | 1.5x |
| Insight Partners XI, L.P. | 2020 | $400,000,000 | $389,200,000 | $709,882 | $630,469,052 | 38.6% 1 | 1.6x 1 |
| Insight Partners XII Buyout Annex Fund, L.P. | 2021 | $150,000,000 | $82,500,000 | $0 | $77,435,480 | N/M 1 | N/M 1 |
| Insight Partners XII, L.P. | 2021 | $600,000,000 | $312,329,845 | $663,047 | $260,050,497 | N/M 1 | N/M 1 |
| Insight Venture Partners Growth-Buyout Coinvestment Fund (B), L.P. | 2015 | $400,000,000 | $416,840,000 | $629,514,103 | $1,689,158,251 | 35.5% | 4.1x |
| Insight Venture Partners IX, L.P. | 2015 | $100,000,000 | $105,668,637 | $103,412,859 | $392,464,277 | 29.5% | 3.7x |
| Insight Venture Partners VI, L.P. | 2007 | $68,000,000 | $73,833,084 | $186,730,689 | $186,730,689 | 19.2% | 2.5x |
| Insight Venture Partners X, L.P. | 2018 | $250,000,000 | $256,808,718 | $107,283,861 | $617,654,188 | 33.3% 1 | 2.4x 1 |
| Jade Equity Investors, L.P. | 2020 | $155,000,000 | $104,100,688 | $16,765,388 | $138,613,837 | 48.2% 1 | 1.3x 1 |
| K5 Private Investors, L.P. | 2021 | $150,000,000 | $53,813,008 | $0 | $59,354,993 | N/M 1 | N/M 1 |
| Khosla Ventures III, L.P. | 2009 | $200,000,000 | $199,100,000 | $332,683,515 | $379,374,606 | 10.1% | 1.9x |
| Khosla Ventures Seed, L.P. | 2009 | $60,000,000 | $60,000,000 | $12,484,329 | $114,849,615 | 6.9% | 1.9x |
| KKR 2006 Fund L.P. | 2006 | $400,000,000 | $595,203,966 | $901,146,003 | $937,526,297 | 8.2% | 1.6x |
| KKR Asian Fund II L.P. | 2013 | $500,000,000 | $607,899,516 | $481,740,253 | $748,595,710 | 5.6% | 1.2x |
| KKR Asian Fund IV SCSp | 2021 | $300,000,000 | $70,535,569 | $831,005 | $69,736,544 | N/M 1 | N/M 1 |
| KKR Asian Fund L.P. | 2007 | $272,575,591 | $355,648,095 | $601,148,863 | $602,218,891 | 13.6% | 1.7x |
| KKR European Fund II, L.P. | 2005 | $203,724,377 | $236,198,253 | $294,468,724 | $295,175,775 | 3.9% | 1.2x |
| KKR European Fund III, L.P. | 2008 | $319,575,149 | $420,716,624 | $589,566,374 | $597,559,701 | 9.6% | 1.4x |
| KKR European Fund V (USD) SCSp | 2020 | $300,000,000 | $231,441,010 | $41,213,146 | $281,755,768 | 15.0% 1 | 1.2x 1 |
| KKR European Fund, L. P. | 2001 | $75,000,000 | $99,833,639 | $216,831,549 | $216,831,549 | 24.7% | 2.2x |
| KKR Millennium Fund L.P. | 2002 | $150,000,000 | $208,148,389 | $372,970,042 | $373,091,650 | 16.4% | 1.8x |
| KKR North America Fund XIII SCSp | 2022 | $600,000,000 | $100,340,836 | $0 | $96,721,665 | N/M 1 | N/M 1 |
| KM Corporate Partners Fund II, LP | 2007 | $200,000,000 | $195,056,138 | $188,645,774 | $274,852,342 | 6.1% | 1.4x |
| KPS Special Situations Fund III, LP | 2007 | $175,000,000 | $244,794,646 | $427,439,314 | $428,111,162 | 23.5% | 1.7x |
| Lightspeed Opportunity Fund II, LP | 2022 | $200,000,000 | $22,000,000 | $0 | $21,789,641 | N/M 1 | N/M 1 |
| Lightspeed Venture Partners Select V, L.P. | 2022 | $100,000,000 | $17,000,000 | $0 | $15,745,962 | N/M 1 | N/M 1 |
| Lightspeed Venture Partners XIV-A (Inception), L.P. | 2022 | $45,000,000 | $8,100,000 | $0 | $7,591,286 | N/M 1 | N/M 1 |
| Lightspeed Venture Partners XIV-B (Ignite), L.P. | 2022 | $55,000,000 | $8,800,000 | $0 | $8,188,181 | N/M 1 | N/M 1 |
| Lime Rock Partners IV AF, L.P. | 2018 | $83,686,107 | $83,845,148 | $13,756,723 | $187,305,705 | 22.3% 1 | 2.2x 1 |
| Lime Rock Partners IV, LP | 2006 | $43,000,000 | $47,917,078 | $139,501,029 | $139,605,626 | 14.6% | 2.9x |
| Lime Rock Partners V, L.P. | 2008 | $85,000,000 | $95,104,915 | $71,510,504 | $84,603,508 | -2.2% | 0.9x |
| Lindsay Goldberg IV, L.P. | 2015 | $250,000,000 | $209,243,153 | $324,730,797 | $443,888,218 | 33.5% | 2.1x |
| Lindsay Goldberg V L.P. | 2020 | $250,000,000 | $91,042,427 | $8,610,617 | $129,963,239 | 37.6% 1 | 1.4x 1 |
| Lion Capital Fund II, L.P. | 2007 | $222,039,013 | $260,786,135 | $185,028,394 | $185,107,554 | -7.2% | 0.7x |
| LongRange Capital Fund I, L.P. | 2020 | $1,500,000,000 | $192,747,849 | $0 | $202,861,416 | 4.2% 1 | 1.1x 1 |
| Madison Dearborn Capital Partners IV, L.P. | 2000 | $150,000,000 | $174,113,440 | $311,241,724 | $311,241,724 | 13.9% | 1.8x |
| Madison Dearborn Capital Partners V, L.P. | 2006 | $300,000,000 | $351,612,894 | $529,398,609 | $536,932,380 | 7.4% | 1.5x |
| Madison Dearborn Capital Partners VIII, LP | 2020 | $400,000,000 | $157,543,893 | $30,501,769 | $192,040,916 | 22.9% 1 | 1.2x 1 |
| MHR Institutional Partners II LP | 2003 | $50,000,000 | $53,012,719 | $123,499,282 | $123,499,282 | 12.4% | 2.3x |
| MHR Institutional Partners III LP | 2006 | $350,000,000 | $371,406,149 | $501,002,843 | $501,002,843 | 5.3% | 1.3x |
| Middlefield Road Private Opportunities Fund, L.P. | 2021 | $800,000,000 | $106,103,896 | $0 | $105,731,349 | N/M 1 | N/M 1 |
| New Mountain Partners II, L.P. | 2005 | $150,000,000 | $138,727,183 | $264,581,334 | $265,425,055 | 13.6% | 1.9x |
| New Mountain Partners III, L.P. | 2007 | $400,000,000 | $468,508,760 | $1,054,237,209 | $1,071,133,544 | 14.7% | 2.3x |
| New Mountain Partners VI, L.P. | 2021 | $600,000,000 | $275,821,091 | $1,049,258 | $290,246,669 | N/M 1 | N/M 1 |
| Newbridge Asia IV, L.P. | 2005 | $180,000,000 | $195,554,362 | $412,814,091 | $413,482,024 | 16.8% | 2.1x |
| NM Pacific, L.P. | 2021 | $200,000,000 | $115,327,854 | $0 | $127,892,958 | N/M 1 | N/M 1 |
| NMP III Continuation Fund, L.P. | 2021 | $90,723,142 | $73,829,030 | $0 | $107,278,567 | N/M 1 | N/M 1 |
| Nordic Bear SCSp | 2021 | $650,000,000 | $541,905,532 | $6,281,884 | $595,593,950 | N/M 1 | N/M 1 |
| Oak Hill Capital Partners II, L.P. | 2004 | $75,000,000 | $86,803,036 | $137,023,865 | $137,213,750 | 9.7% | 1.6x |
| Oak Hill Capital Partners III, L.P. | 2007 | $300,000,000 | $380,079,555 | $596,906,938 | $607,739,239 | 9.9% | 1.6x |
| Oaktree Latigo Investment Fund, L.P. | 2020 | $1,000,000,000 | $480,000,000 | $0 | $589,203,376 | 16.8% 1 | 1.2x 1 |
| Oaktree Opportunities Fund VIIIb, L.P. | 2011 | $200,000,000 | $200,000,000 | $226,574,146 | $304,107,216 | 7.3% | 1.5x |
| OHA Black Bear Fund, L.P. | 2020 | $1,000,000,000 | $260,000,000 | $25,247,525 | $355,611,982 | 17.6% 1 | 1.4x 1 |
| Onex Partners IV, L.P. | 2014 | $300,000,000 | $307,294,407 | $210,157,455 | $429,788,641 | 8.2% | 1.4x |
| Onex Partners V-B LP | 2018 | $500,000,000 | $449,670,382 | $16,947,909 | $529,647,529 | 11.4% 1 | 1.2x 1 |
| PAG Asia I LP | 2012 | $100,000,000 | $117,739,649 | $199,187,313 | $226,195,905 | 18.5% | 1.9x |
| PAG Asia III LP | 2019 | $380,000,000 | $307,001,722 | $18,754,037 | $335,392,627 | 7.1% 1 | 1.1x 1 |
| Palladium Equity Partners III, L.P. | 2004 | $193,750,000 | $254,148,330 | $443,356,153 | $443,905,059 | 15.5% | 1.7x |
| Palladium Equity Partners V, L.P. | 2018 | $75,000,000 | $60,097,204 | $11,457,530 | $69,616,086 | 7.1% 1 | 1.2x 1 |
| Patria Brazilian Private Equity Fund V, L.P. | 2015 | $150,000,000 | $136,563,903 | $4,216,046 | $274,638,014 | 23.8% | 2.0x |
| Permira Europe III | 2004 | $126,989,866 | $126,989,866 | $219,162,733 | $219,728,955 | 26.6% | 1.7x |
| Permira Growth Opportunities I L.P. 1 | 2019 | $200,000,000 | $170,466,438 | $52,662,033 | $205,226,500 | 12.0% 1 | 1.2x 1 |
| Permira Growth Opportunities II SCSP | 2022 | $155,000,000 | $37,200,000 | $0 | $28,552,412 | N/M 1 | N/M 1 |
| Permira IV L.P.2 | 2006 | $289,163,007 | $354,598,629 | $492,791,364 | $560,079,549 | 8.4% | 1.6x |
| Permira V, L.P. | 2014 | $269,044,471 | $269,756,932 | $522,249,635 | $763,156,958 | 22.5% | 2.8x |
| Permira VI L.P. 1 | 2017 | $497,142,618 | $468,549,410 | $276,935,451 | $860,369,766 | 20.2% | 1.8x |
| Permira VII L.P.1 | 2020 | $621,010,181 | $480,297,764 | $45,924,191 | $456,423,593 | -3.8% 1 | 1.0x 1 |
| Polish Enterprise Fund VI, L.P. | 2006 | $139,256,323 | $145,763,392 | $219,497,915 | $219,497,915 | 6.2% | 1.5x |
| Providence Equity Partners V | 2005 | $125,000,000 | $157,826,071 | $184,249,143 | $184,864,893 | 3.0% | 1.2x |
| Providence Equity Partners VI L.P. | 2007 | $320,000,000 | $504,333,055 | $640,947,037 | $662,021,952 | 5.7% | 1.3x |
| PSG Encore L.P. | 2022 | $100,000,000 | $24,954,848 | $0 | $23,057,663 | N/M 1 | N/M 1 |
| PSG V L.P. | 2021 | $100,000,000 | $21,651,610 | $534,475 | $20,863,014 | N/M 1 | N/M 1 |
| Q-Street Capital, L.P. | 2021 | $400,000,000 | $111,259,161 | $0 | $114,875,189 | N/M 1 | N/M 1 |
| Redwood Lane Capital, L.P. | 2022 | $225,000,000 | $60,000,000 | $0 | $59,579,108 | N/M 1 | N/M 1 |
| Redwood Opportunities SCSp | 2020 | $600,000,000 | $390,386,676 | $0 | $402,046,400 | 4.8% 1 | 1.0x 1 |
| Riverstone Global Energy and Power Fund V, L.P. | 2012 | $400,000,000 | $526,685,152 | $271,447,490 | $434,205,019 | -5.0% | 0.8x |
| Riverstone Global Energy and Power Fund VI, L.P. | 2016 | $500,000,000 | $631,461,204 | $261,352,844 | $667,423,597 | 2.0% | 1.1x |
| Riverstone/Carlyle Global Energy and Power Fund IV, L.P. | 2008 | $500,000,000 | $592,427,815 | $638,707,080 | $641,067,950 | 2.1% | 1.1x |
| Riverstone/Carlyle Renewable & Alternative Energy Fund II, L.P. | 2008 | $300,000,000 | $331,328,981 | $355,922,667 | $358,948,416 | 1.8% | 1.1x |
| Riverwood Capital Partners (Parallel - A) L.P. | 2010 | $150,000,000 | $175,058,539 | $323,783,414 | $344,393,052 | 22.5% | 2.0x |
| Sacramento Private Equity Partners, L.P. | 2006 | $605,000,000 | $526,080,239 | $899,434,388 | $1,032,230,939 | 11.7% | 2.0x |
| SAIF Partners III L.P. | 2007 | $100,000,000 | $127,020,773 | $137,670,802 | $236,136,801 | 7.1% | 1.9x |
| SAIF Partners IV L.P. | 2010 | $120,000,000 | $151,256,026 | $99,457,381 | $238,826,816 | 6.5% | 1.6x |
| Samson Partners, L.P. | 2020 | $238,801,883 | $172,079,078 | $7,504,791 | $207,320,889 | 12.7% 1 | 1.2x 1 |
| Sankaty Managed Account (CalPERS), L.P. | 2014 | $500,000,001 | $500,351,726 | $547,129,687 | $547,129,687 | 3.1% | 1.1x |
| Sierra Partners, L.P. | 2020 | $150,000,000 | $39,946,893 | $2,406,977 | $61,122,104 | 76.3% 1 | 1.5x 1 |
| Silver Lake Partners II, L.P. | 2004 | $125,000,000 | $135,417,964 | $237,692,578 | $237,692,578 | 11.0% | 1.8x |
| Silver Lake Partners III, L.P. | 2007 | $480,000,000 | $612,514,478 | $1,154,411,456 | $1,181,041,815 | 18.5% | 1.9x |
| Silver Lake Partners IV, L.P. | 2013 | $320,000,000 | $374,298,920 | $393,031,865 | $895,231,323 | 23.7% | 2.4x |
| Silver Lake Partners V, L.P. | 2018 | $400,000,000 | $385,003,970 | $109,883,179 | $566,825,714 | 16.7% 1 | 1.5x 1 |
| Silver Lake Partners VI, L.P. | 2021 | $800,000,000 | $500,438,125 | $49,073,443 | $502,012,893 | N/M 1 | N/M 1 |
| Silver Lake Technology Investors IV, LP | 2013 | $80,000,000 | $86,212,546 | $113,117,852 | $256,542,941 | 31.1% | 3.0x |
| Silver Lake Technology Investors V, L.P. | 2018 | $100,000,000 | $90,940,761 | $31,083,269 | $153,703,600 | 20.2% 1 | 1.7x 1 |
| Siris Partners III, L.P. | 2015 | $75,000,000 | $85,577,071 | $112,800,189 | $112,800,189 | 10.0% | 1.3x |
| Siris Partners IV, L.P. | 2019 | $100,000,000 | $81,933,949 | $11,800,407 | $124,426,198 | 23.1% 1 | 1.5x 1 |
| SL SPV-1, L.P. | 2017 | $38,675,166 | $82,731,624 | $4,048,638 | $78,162,470 | -1.2% | 0.9x |
| SL SPV-2, L.P. | 2019 | $28,417,191 | $49,924,797 | $6,534,983 | $97,454,580 | 22.7% 1 | 2.0x 1 |
| SPRINGBLUE A, L.P. | 2021 | $50,000,000 | $20,250,000 | $0 | $20,523,949 | N/M 1 | N/M 1 |
| SPRINGBLUE B, L.P. | 2021 | $50,000,000 | $28,625,000 | $0 | $25,674,280 | N/M 1 | N/M 1 |
| Summit Partners Growth Equity Fund X-A, L.P. | 2020 | $250,000,000 | $221,227,729 | $38,310,877 | $269,569,740 | 21.7% 1 | 1.2x 1 |
| Sunrise Boulevard PE Partners L.P. | 2021 | $500,000,000 | $138,600,000 | $0 | $143,550,000 | N/M 1 | N/M 1 |
| TA Select Opportunities Fund II-A, L.P. | 2021 | $50,000,000 | $6,000,000 | $0 | $4,910,291 | N/M 1 | N/M 1 |
| TA XIV-A, L.P. | 2021 | $150,000,000 | $40,500,000 | $0 | $36,392,460 | N/M 1 | N/M 1 |
| Tailwind Capital Partners (PP), LP | 2007 | $77,510,000 | $97,570,000 | $145,519,018 | $145,519,018 | 11.2% | 1.5x |
| Tailwind Capital Partners II, LP | 2014 | $150,000,000 | $150,745,437 | $163,647,945 | $251,564,658 | 12.8% | 1.7x |
| Tailwind Capital Partners III, L.P. | 2018 | $200,000,000 | $156,527,208 | $49,824,228 | $240,362,840 | 26.0% 1 | 1.5x 1 |
| TCC Opportunities, L.P. | 2021 | $500,000,000 | $167,089,636 | $132,131 | $175,755,943 | N/M 1 | N/M 1 |
| TCP II Co-Invest B, L.P. | 2015 | $50,000,000 | $49,400,412 | $50,707,994 | $111,486,393 | 17.2% | 2.3x |
| TCV X, L.P. | 2019 | $175,000,000 | $131,343,267 | $0 | $246,420,226 | 31.8% 1 | 1.9x 1 |
| TCV XI, L.P. | 2021 | $300,000,000 | $127,249,088 | $0 | $129,108,198 | N/M 1 | N/M 1 |
| The Central Valley Fund II SBIC, LP | 2012 | $12,000,000 | $7,865,917 | $16,790,929 | $16,790,929 | 12.7% | 2.1x |
| The Resolute Fund II, L.P. | 2008 | $200,000,000 | $226,137,035 | $327,414,234 | $327,414,234 | 8.0% | 1.4x |
| The Rise Fund (A), L.P. | 2018 | $75,000,000 | $70,856,745 | $35,823,729 | $113,857,604 | 18.4% 1 | 1.6x 1 |
| Thoma Bravo Fund XIV, L.P. | 2021 | $600,000,000 | $564,690,697 | $169 | $546,651,703 | N/M 1 | N/M 1 |
| Thoma Bravo Fund XV, L.P. | 2022 | $600,000,000 | $99,595,694 | $0 | $98,180,426 | N/M 1 | N/M 1 |
| Thomas H. Lee Equity Fund VI, L.P | 2006 | $240,000,000 | $402,954,172 | $556,367,009 | $556,367,009 | 7.0% | 1.4x |
| Tiger Global Private Investment Partners XV, L.P. | 2022 | $300,000,000 | $247,500,000 | $0 | $240,198,213 | N/M 1 | N/M 1 |
| Top Castle Sidecar VII, L.P. | 2020 | $500,000,000 | $48,782,218 | $0 | $81,730,969 | 44.0% 1 | 1.7x 1 |
| TowerBrook Investors II, L.P. | 2005 | $200,000,000 | $195,738,362 | $326,079,210 | $327,971,315 | 10.1% | 1.7x |
| TowerBrook Investors III, L.P. | 2008 | $300,000,000 | $328,307,982 | $420,306,660 | $420,306,660 | 8.3% | 1.3x |
| TowerBrook Investors IV (Onshore), L.P. | 2013 | $380,000,000 | $307,132,688 | $257,727,060 | $656,688,227 | 22.7% | 2.1x |
| Towerbrook Investors V (Onshore) LP | 2019 | $400,000,000 | $264,608,505 | $17,251,977 | $298,194,875 | 10.5% 1 | 1.1x 1 |
| Towerbrook Structured Opportunities Fund (Onshore), L.P. | 2016 | $221,786,667 | $281,605,694 | $160,928,644 | $377,819,777 | 12.3% | 1.3x |
| Towerbrook Structured Opportunities Fund II (Onshore) LP | 2019 | $250,000,000 | $161,858,037 | $15,661,120 | $166,796,610 | 4.1% 1 | 1.0x 1 |
| TPG Asia V, L.P. | 2007 | $360,000,000 | $350,599,460 | $446,387,116 | $503,211,067 | 6.4% | 1.4x |
| TPG Asia VII (A), L.P. | 2018 | $300,000,000 | $274,026,250 | $99,901,363 | $415,313,750 | 21.0% 1 | 1.5x 1 |
| TPG Biotechnology Partners II, L.P. | 2006 | $70,000,000 | $71,952,784 | $86,727,052 | $86,777,105 | 2.9% | 1.2x |
| TPG Biotechnology Partners III, L.P. | 2008 | $100,000,000 | $100,076,482 | $156,956,851 | $220,456,306 | 11.7% | 2.2x |
| TPG Golden Bear Partners, L.P. | 2019 | $400,000,000 | $329,479,920 | $19,799,796 | $495,665,280 | 25.6% 1 | 1.5x 1 |
| TPG Growth IV, L.P. | 2018 | $75,000,000 | $74,050,255 | $32,291,176 | $108,065,584 | 17.8% 1 | 1.5x 1 |
| TPG Growth V, L.P. | 2021 | $200,000,000 | $90,212,282 | $1,137,768 | $114,493,206 | N/M 1 | N/M 1 |
| TPG Healthcare Partners, L.P. | 2019 | $100,000,000 | $57,837,041 | $25,889,933 | $78,933,940 | 31.3% 1 | 1.4x 1 |
| TPG Partners IV, L.P. | 2003 | $200,000,000 | $225,811,661 | $428,892,245 | $429,332,148 | 15.3% | 1.9x |
| TPG Partners V, L.P. | 2006 | $600,000,000 | $811,329,685 | $1,005,384,966 | $1,007,224,549 | 3.7% | 1.2x |
| TPG Partners VI, L.P. | 2008 | $825,000,000 | $953,291,412 | $1,349,665,374 | $1,397,573,235 | 9.4% | 1.5x |
| TPG Partners VIII, L.P. | 2019 | $500,000,000 | $334,857,850 | $100,372,509 | $460,925,915 | 36.9% 1 | 1.4x 1 |
| TPG STAR, L.P. | 2007 | $150,000,000 | $171,879,025 | $204,248,267 | $223,730,493 | 6.6% | 1.3x |
| Trident IX, L.P. | 2022 | $500,000,000 | $46,808,699 | $0 | $39,067,312 | N/M 1 | N/M 1 |
| Trident VI | 2014 | $250,000,000 | $260,190,390 | $305,430,808 | $606,869,194 | 22.5% | 2.3x |
| Trident VII, L.P. | 2017 | $270,000,000 | $313,614,113 | $119,574,883 | $552,789,694 | 22.2% | 1.8x |
| Trident VIII, L.P. | 2020 | $400,000,000 | $368,859,769 | $26,081,837 | $497,343,483 | 26.6% 1 | 1.3x 1 |
| Triton Fund IV L.P. | 2013 | $92,638,922 | $106,215,347 | $78,948,128 | $141,009,640 | 9.0% | 1.3x |
| Triton Fund V, LP | 2019 | $278,238,544 | $205,576,553 | $46,924,516 | $252,810,695 | 15.8% 1 | 1.2x 1 |
| Valor Equity Partners IV L.P. | 2017 | $75,000,000 | $70,607,249 | $6,104,458 | $175,003,373 | 28.6% | 2.5x |
| VantagePoint CleanTech Partners, L.P. | 2006 | $25,000,000 | $25,000,239 | $16,966,521 | $16,966,521 | -7.8% | 0.7x |
| VantagePoint Venture Partners 2006 (Q), L.P. | 2006 | $100,000,000 | $100,024,019 | $34,323,284 | $34,323,284 | -10.7% | 0.3x |
| Vicente Capital Partners Growth Equity Fund, L.P. | 2007 | $40,422,297 | $40,801,085 | $56,560,761 | $56,984,954 | 5.7% | 1.4x |
| VIP IV LP | 2020 | $298,322,153 | $183,993,153 | $0 | $189,081,842 | 6.9% 1 | 1.0x 1 |
| Vista Equity Partners Fund VII-Z, L.P. | 2019 | $400,000,000 | $327,310,673 | $6,592,560 | $437,485,754 | 16.6% 1 | 1.3x 1 |
| W Capital Partners II, L.P. | 2007 | $141,125,000 | $140,777,821 | $196,424,678 | $196,424,678 | 10.3% | 1.4x |
| WCAS XIII, L.P. | 2019 | $400,000,000 | $355,741,237 | $43,336,878 | $457,512,082 | 17.8% 1 | 1.3x 1 |
| Wellspring Capital Partners V, L.P. | 2011 | $150,000,000 | $172,858,712 | $270,229,677 | $270,229,677 | 14.9% | 1.6x |
| Welsh, Carson, Anderson & Stowe XI, L.P. | 2009 | $125,000,000 | $125,000,000 | $201,830,558 | $210,751,290 | 11.7% | 1.7x |
| Welsh, Carson, Anderson & Stowe XII, L.P. | 2015 | $350,000,000 | $340,543,809 | $430,068,002 | $853,224,307 | 29.5% | 2.5x |
| Whitney Global Partners L.P. | 2021 | $537,181,730 | $301,817,813 | $23,294 | $335,576,071 | N/M 1 | N/M 1 |
| Wigmore Street (BDC III) LP | 2017 | $32,610,475 | $30,231,745 | $19,097,345 | $63,433,674 | 30.9% | 2.1x |
| Wigmore Street BDC IV Co-Investment No.1 LP | 2021 | $49,369,917 | $6,923,529 | $0 | $5,849,962 | N/M 1 | N/M 1 |
| Wigmore Street Co-investment No. 1 LP | 2016 | $99,195,691 | $93,696,159 | $85,032,421 | $214,482,757 | 26.4% | 2.3x |
| Wigmore Street VI Co-Investment No. 1 LP | 2019 | $98,728,647 | $92,466,689 | $0 | $131,387,542 | 23.5% 1 | 1.4x 1 |
| WLR Recovery Fund II, L.P. | 2002 | $50,000,000 | $50,000,000 | $120,721,192 | $120,767,753 | 78.8% | 2.4x |
| WLR Recovery Fund III, L.P. | 2005 | $198,000,000 | $198,000,000 | $129,463,682 | $130,554,630 | -9.3% | 0.7x |
| WLR Recovery Fund IV, L.P. | 2007 | $400,000,000 | $363,747,718 | $486,121,809 | $489,033,073 | 7.3% | 1.3x |
| Yucaipa American Alliance Fund I, L.P. | 2002 | $200,000,000 | $314,764,188 | $360,325,251 | $361,539,963 | 3.5% | 1.1x |
| Yucaipa American Alliance Fund II, L.P. | 2008 | $400,000,000 | $560,638,831 | $600,631,940 | $908,326,606 | 7.9% | 1.6x |
| Yucaipa Corporate Initiatives Fund I, L.P. | 2001 | $200,000,000 | $288,655,697 | $219,686,742 | $225,645,197 | -3.7% | 0.8x |
| Yucaipa Corporate Initiatives Fund II, L.P. | 2008 | $93,539,524 | $91,400,621 | $62,341,693 | $84,296,419 | -1.1% | 0.9x |
1Not Meaningful: Funds with a vintage year of 2018 or later are in the initial stages of their investment life cycle. Any performance analysis done on these funds would not generate meaningful results as private equity funds are understood to be long-term investments.
2Partnership investment is using a cash adjusted market value.