The Capital Link Funds are managed by GCM Grosvenor and focused on domestic emerging managers.

GCM Grosvenor
Jessica Holsey, Principal
767 Fifth Avenue, 14th Floor
New York, NY  10153
Phone: 646-362-3656
E-mail: CalPERSReferrals@gcmip.com

The table shows fund performance information for Capital Link Funds as of September 30, 2021.

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Fund Vintage Year Capital Committed Cash In Cash Out Cash Out & Remaining Value Net IRR Investment Multiple
Fund Vintage Year            
Alpine Investors IV, LP 2011 $9,908,884 $8,165,202 $35,019,902 $56,672,924 28% 6.9x
Altos Ventures IV, L.P. 2008 $9,908,884 $9,908,884 $82,634,134 $82,634,134 29% 8.3x
Avante Mezzanine Partners SBIC, L.P. 2010 $9,908,884 $8,189,822 $16,135,949 $22,364,055 19.3% 2.7x
Caltius Equity Partners II, L.P. 2007 $12,948,413 $12,785,502 $19,708,466 $21,261,053 9.7% 1.7x
Caltius Partners IV, L.P. 2008 $14,863,326 $13,982,952 $15,885,345 $19,820,147 7.9% 1.4x
Capital Point Partners, L.P. 2008 $17,255,635 $17,585,779 $11,102,646 $13,537,944 -5.5% 0.8x
Carpenter Community BancFund-A, L.P. 2008 $29,880,952 $29,088,961 $50,643,331 $50,643,331 8.7% 1.7x
Centerview Capital, L.P. 2008 $39,635,535 $32,143,827 $52,947,248 $66,561,266 13.7% 2.1x
Chart Capital Partners II, LP 2009 $13,872,437 $13,718,273 $24,832,484 $26,605,296 10.7% 1.9x
Clearlake Capital Partners II, L.P. 2009 $39,635,535 $37,630,580 $69,898,669 $73,172,158 16.4% 1.9x
Commerce Street Financial Partners, L.P. 2009 $7,796,425 $7,609,375 $14,176,700 $14,176,700 13.3% 1.9x
Comvest Investment Partners III, L.P. 2008 $24,900,794 $23,943,323 $36,503,765 $36,646,702 7.7% 1.5x
Comvest Investment Partners IV, L.P. 2011 $24,772,210 $17,933,691 $32,785,329 $38,755,830 27.4% 2.2x
Corinthian Equity Fund, L.P. 2008 $9,960,317 $10,056,302 $9,430,533 $10,727,161 1.4% 1.1x
Craton Equity Investors I, L.P. 2008 $9,960,317 $10,011,493 $1,087,879 $1,087,879 -32.9% 0.1x
Cressey & Company Fund IV, L.P. 2009 $24,772,210 $23,214,212 $49,369,973 $50,181,953 20.2% 2.2x
GenNx360 Capital Partners, L.P. 2007 $45,669,111 $46,001,601 $34,401,629 $43,034,365 -1.1% 0.9x
GF Capital Private Equity Fund, L.P. 2007 $19,920,635 $20,017,925 $26,595,077 $35,638,306 11.3% 1.8x
Greenbriar Equity Fund II, L.P. 2007 $19,920,635 $17,725,522 $26,431,163 $26,431,163 9.6% 1.5x
Grey Mountain Partners Fund II, L.P. 2010 $9,908,884 $9,749,856 $3,871,973 $4,123,904 -20.5% 0.4x
Halyard Capital Fund II, L.P. 2008 $19,920,635 $18,191,669 $19,605,897 $28,004,999 6.7% 1.5x
Hispania Private Equity II, L.P. 2008 $9,908,884 $13,380,256 $21,263,595 $23,660,371 19.5% 1.8x
Huntington Capital Fund II, L.P. 2008 $14,863,326 $7,232,185 $9,072,264 $9,737,214 6% 1.3x
IC Hospitality Fund, LP 2009 $8,928,098 $8,990,240 $4,459,400 $5,459,810 -12.2% 0.6x
Industrial Opportunity Partners, L.P. 2007 $19,920,635 $19,303,064 $59,607,883 $60,149,760 25% 3.1x
InterMedia Partners VII, L.P. 2007 $59,761,905 $59,063,453 $54,123,537 $54,123,537 -1.2% 0.9x
Intervale Capital Group, L.P. 2008 $20,462,367 $19,117,135 $35,941,557 $45,814,639 18.3% 2.4x
Leeds Equity Partners V, L.P. 2009 $24,900,794 $22,023,035 $50,176,087 $54,811,170 17.9% 2.5x
Longitude Venture Partners 2008 $19,920,635 $16,064,027 $46,629,406 $46,629,406 25.5% 2.9x
Longroad Capital Partners III, L.P. 2010 $14,863,326 $5,961,329 $3,025,442 $3,072,543 -26.1% 0.5x
PALADIN III (CA), LP 2008 $29,880,952 $31,824,062 $69,225,606 $109,992,603 16.6% 3.5x
Quad Partners II LP 2008 $9,960,317 $9,851,017 $8,732,042 $8,732,042 -1.8% 0.9x
Quaker BioVentures II, LP 2008 $9,908,884 $9,566,566 $9,622,843 $11,336,996 3.2% 1.2x
Relativity Fund, L.P. 2008 $14,940,476 $7,822,359 $3,800,619 $3,800,619 -10.7% 0.5x
Rustic Canyon / Fontis Partners, LP 2007 $14,940,476 $11,001,647 $7,652,581 $7,652,581 -5.1% 0.7x
Saybrook Corporate Opportunity Fund, L.P 2008 $19,817,768 $20,435,263 $21,685,418 $27,655,759 8.1% 1.4x
Sheridan Production Partners I-B, LP 2007 $24,900,794 $24,906,422 $16,484,325 $16,484,325 -94% 0.7x
St. Cloud Capital Partners II, L.P. 2007 $14,940,476 $14,907,821 $12,569,866 $12,740,236 -3.6% 0.9x
StarVest Partners II, L.P. 2008 $19,869,201 $19,815,587 $9,166,951 $18,191,919 -1.1% 0.9x
Syndicated Communications Venture Partners V, LP 2007 $9,960,317 $9,953,509 $325,490 $332,936 -35.8% 0.0x
Tenex Capital Partners, LP 2011 $18,826,879 $19,328,501 $23,853,506 $31,047,127 12.9% 1.6x
The Column Group, L.P. 2008 $19,869,201 $20,408,127 $47,116,218 $72,906,104 21.6% 3.6x
Valor Equity Partners II, L.P. 2007 $9,960,317 $9,366,842 $36,913,971 $36,913,971 23.4% 3.9x
Vance Street Capital, LLC 2008 $19,817,768 $16,824,739 $14,569,685 $19,176,910 3.3% 1.1x
Vedanta Opportunities Fund, L.P. 2008 $19,817,768 $20,190,506 $3,159,220 $3,492,378 -17% 0.2x
Vista Equity Partners Fund III, L.P. 2007 $59,761,905 $65,548,202 $145,112,203 $151,406,447 25.6% 2.3x
Vista Foundation Fund I, L.P. 2009 $19,817,768 $17,661,821 $59,213,996 $62,990,171 36.5% 3.6x

1Not Meaningful: Funds with a vintage year of 2017 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.