The CalPERS Emerging Manager funds are managed by Grosvenor Capital Management (CFIG) and focused on domestic emerging managers.

Jessica Holsey, Principal
CalPERSReferrals@gcmlp.com
GCM Grosvenor
767 Fifth Avenue, 14th Floor
New York, NY  10153
(646) 362-3656

The table shows fund performance information for GCM Grosvenor Private Markets as of June 30, 2022.

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Fund Vintage Year Capital Committed Cash In Cash Out Cash Out & Remaining Value Net IRR Investment Multiple
Fund Vintage Year            
Aldrich Capital Partners Fund, LP 2018 $8,663,366 $7,618,517 $0 $10,877,955 15%1 1.4x
Arcadius (SW) Energy Capital, LP 2018 $14,851,485 $13,026,038 $0 $11,575,515 -3.1%1 0.9x
Argand Partners Fund, LP 2017 $14,851,485 $11,690,307 $342,951 $21,061,036 14.6% 1.8x
Avance Investment Partners, L.P. 2021 $34,684,685 $5,544,127 $120,004 $6,421,577 N/M1 N/M
Avante Mezzanine Partners SBIC II, LP 2015 $14,563,107 $11,522,330 $9,902,913 $19,521,002 15.8% 1.7x
Crayhill Capital Management LP Master Co-Investment 2018 $3,300,330 $3,292,481 $3,261,477 $3,923,603 12.5%1 1.2x
Crayhill Principal Strategies Fund LP 2017 $6,600,660 $4,137,136 $5,357,538 $5,357,538 12.1% 1.3x
CRG Partners III (Holdings 2) L.P. 2016 $11,165,049 $5,890,374 $2,664,473 $10,782,714 11.4% 1.8x
EIV Capital Fund II, LP 2014 $14,851,485 $12,522,132 $3,587,538 $17,270,860 10.3% 1.4x
Gemspring Capital Fund I, LP 2017 $14,851,485 $12,392,637 $16,518,366 $39,707,039 73.5% 3.2x
Gemspring Capital Fund II, LP 2020 $19,819,820 $7,750,722 $764 $7,613,234 -2%1 1.0x
Grain Communications Opportunity Fund II, L.P. 2018 $19,801,980 $16,611,369 $0 $23,264,289 16%1 1.4x
HPH II FF, LP 2019 $34,684,685 $31,139,478 $1,162,535 $41,526,051 17.9%1 1.3x
Juggernaut Capital Partners III, L.P. 2015 $8,663,366 $6,397,281 $9,834,529 $15,114,780 17.1% 2.4x
Kingswood Capital Opportunities Fund I, L.P. 2019 $34,684,685 $11,322,360 $42,716,137 $69,424,459 327.8%1 6.1x
Maranon Mezzanine Fund II, L.P. 2014 $9,223,301 $7,774,395 $11,828,876 $13,654,336 14.3% 1.8x
Mill Point Capital Partners II, L.P. 2021 $19,819,820 $2,555,355 $0 $2,342,126 N/M1 N/M
Mill Point Capital Partners, L.P. 2017 $14,851,485 $13,608,321 $4,247,839 $26,634,811 25.4% 2.0x
New Heritage Capital Fund 2014 $9,320,388 $8,692,304 $9,667,852 $16,495,837 17.1% 1.9x
New Heritage Capital Fund III, L.P. 2019 $9,900,990 $5,253,566 $1,328,909 $9,394,520 33.7%1 1.8x
NHC III GCM Co-Investors, L.P. 2019 $4,950,495 $2,521,521 $123,196 $4,155,350 25.3%1 1.6x
NovaQuest Pharma Opportunities Fund IV, L.P. 2015 $9,320,388 $8,323,724 $512,217 $5,845,611 -7.1% 0.7x
ParkerGale Capital, LP 2015 $14,851,485 $14,734,532 $13,080,115 $22,361,077 10.3% 1.5x
Peak Rock Capital Credit Fund II, L.P. 2017 $2,970,297 $1,168,331 $374,175 $1,529,556 20.1% 1.3x
Peak Rock Capital Fund II, LP 2017 $11,881,188 $8,534,173 $8,833,220 $14,108,467 35.1% 1.7x
Peak Rock Capital Fund III LP 2021 $14,864,865 $4,576,571 $0 $5,061,018 N/M1 N/M
Peak Rock Capital Fund LP 2013 $9,223,301 $8,452,623 $9,117,216 $13,193,919 18.1% 1.6x
Recognize Partners I, L.P. 2021 $19,819,820 $2,067,395 $8,574 $1,478,818 N/M1 N/M
Resolve Growth Partners Fund I (Side Car), L.P. 2019 $5,662,806 $3,541,232 $0 $4,332,767 15.2%1 1.2x
Resolve Growth Partners Fund I, L.P. 2019 $14,157,014 $8,314,830 $133,994 $9,896,921 9.8%1 1.2x
Resurgens Technology Partners, L.P. 2018 $8,663,366 $7,872,001 $7,744,641 $18,474,689 40.1%1 2.3x
Revelstoke Capital Partners Fund I, L.P. 2015 $14,851,485 $14,185,278 $23,914,448 $35,264,320 19.2% 2.5x
Reverence Capital Partners Opportunities Fund II, L.P. 2018 $14,851,485 $12,241,647 $587,793 $18,668,061 23.3%1 1.5x
Siris Partners II, L.P. 2012 $9,320,388 $8,086,717 $6,948,686 $10,836,794 7.4% 1.3x
SkyKnight Capital Fund III, L.P. 2021 $9,909,910 $2,777,662 $0 $3,474,337 N/M1 N/M
Stellex Capital Partners II LP 2021 $84,234,234 $24,694,124 $2,787 $25,489,926 N/M1 N/M
Stellex Capital Partners LP 2015 $14,563,107 $10,064,982 $7,468,605 $19,164,125 22.1% 1.9x
The Central Valley Fund III (SBIC), LP 2017 $9,900,990 $6,138,614 $0 $8,945,021 10.1% 1.5x
Tritium I, L.P. 2015 $8,663,366 $8,058,869 $11,925,810 $25,244,434 31.5% 3.1x
Valor Equity Partners III L.P. 2013 $9,320,388 $9,376,740 $13,925,242 $21,169,401 14.6% 2.3x
Vistria Fund II, LP 2017 $14,851,485 $13,090,259 $14,372,326 $32,541,488 34.6% 2.5x
Vistria Fund III, LP 2020 $34,684,685 $30,637,165 $0 $40,348,205 23.6%1 1.3x

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.