As of December 31, 2016, the since inception Net IRR is 10.7% and the Net Multiple is 1.4x.

The table below reflects the performance of all active PE partnership investments as of December 31, 2016. 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.

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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 $374,007,755 $75,471,207 $449,730,542 6.3% 1.2x
57 Stars Global Opportunities Fund, LLC 2007 $430,000,000 $396,309,526 $251,241,403 $567,069,027 7.6% 1.4x
AACP AP Investors, L.P. 2007 $14,108,080 $14,795,750 $9,507,528 $14,718,670 -0.1% 1.0x
AACP China Debt Investors, LP 2008 $10,000,000 $15,812,201 $19,783,703 $20,108,849 8.4% 1.3x
AACP China Growth Investors 2007 $50,000,000 $51,902,546 $41,345,621 $85,093,164 8.6% 1.6x
AACP China Venture Investors A, LP 2008 $5,000,000 $4,289,257 $1,816,633 $6,508,891 7.1% 1.5x
AACP India Investors B 2007 $5,000,000 $5,093,054 $1,878,089 $8,963,052 8.4% 1.8x
AACP India Investors C 2009 $5,000,000 $5,104,297 $1,781,342 $18,379,619 32.6% 3.6x
AACP India Venture Investors A 2007 $5,000,000 $5,024,248 $3,380,397 $13,439,483 15.6% 2.7x
Aberdare Ventures IV, LP 2008 $50,000,000 $47,875,000 $19,177,065 $57,032,728 5.0% 1.2x
Advent Global Private Equity IV-A, L.P. 2002 $25,000,000 $24,000,000 $77,973,486 $77,973,486 52.0% 3.2x
Advent International GPE V-D, L.P. 2005 $80,724,071 $77,609,736 $180,720,375 $186,293,143 42.8% 2.4x
Advent International GPE VI-A, L.P. 2008 $500,000,000 $492,306,254 $682,713,802 $1,019,138,543 17.9% 2.1x
Advent International GPE VII-C, L.P. 2012 $450,000,000 $395,382,784 $120,432,784 $557,966,803 15.6% 1 1.4x 1
Advent International GPE VIII-B Limited Partnership 2016 $500,000,000 $10,500,000 $0 $4,897,027 N/M 1 N/M 1
Advent Latin America Private Equity Fund IV-D, L.P. 2007 $200,000,000 $205,315,197 $213,740,196 $297,445,486 9.3% 1.4x
Advent Latin America Private Equity Fund V-H L.P. 2010 $100,000,000 $88,950,000 $16,800,000 $104,343,474 5.0% 1.2x
Advent Latin American Private Equity Fund III-D L.P. 2006 $50,000,000 $49,385,090 $64,706,184 $70,043,605 9.6% 1.4x
Affinity Asia Pacific Fund III L.P. 2007 $150,000,000 $151,809,509 $182,633,514 $222,760,815 10.7% 1.5x
Aisling Capital II, LP 2006 $80,000,000 $101,092,980 $73,249,991 $87,606,921 -3.2% 0.9x
Aisling Capital III, LP 2008 $90,000,000 $110,295,437 $113,913,081 $174,103,807 20.9% 1.6x
Alta V Limited Partnership 1992 $35,000,000 $35,000,000 $84,587,808 $84,631,702 25.5% 2.4x
American River Ventures I, LP 2001 $15,000,000 $15,750,000 $899,404 $899,404 -50.5% 0.1x
Apollo Asia Opportunity Fund, LP 2007 $50,000,000 $50,000,000 $44,702,747 $44,702,747 -2.4% 0.9x
Apollo Credit Opportunity Fund I, L.P. 2008 $1,000,000,000 $1,225,580,618 $3,121,061,207 $3,165,499,744 27.4% 2.6x
Apollo European Principal Finance Fund, L.P. 2008 $91,332,352 $165,101,057 $198,776,650 $200,481,095 11.9% 1.2x
Apollo Investment Fund IV, L.P. 1998 $150,000,000 $154,312,417 $254,289,011 $254,978,193 8.5% 1.7x
Apollo Investment Fund V, L.P. 2001 $250,000,000 $388,993,978 $775,737,813 $781,899,232 37.5% 2.0x
Apollo Investment Fund VI, L.P. 2006 $520,000,000 $866,357,105 $1,059,201,195 $1,211,560,676 8.4% 1.4x
Apollo Investment Fund VII, L.P. 2008 $800,000,000 $1,173,365,551 $1,690,983,166 $1,911,703,147 23.3% 1.6x
Apollo Investment Fund VIII, L.P. 2013 $500,000,000 $302,948,416 $31,941,842 $343,930,991 11.9% 1 1.1x 1
Apollo Special Opportunities Managed Account, L.P. 2007 $800,000,000 $800,000,000 $627,222,002 $1,085,004,621 4.2% 1.4x
ArcLight Energy Partners Fund III, L.P. 2006 $200,000,000 $212,312,180 $308,523,303 $314,899,679 8.6% 1.5x
ArcLight Energy Partners Fund IV, L.P. 2007 $250,000,000 $255,794,752 $350,418,641 $384,276,115 12.7% 1.5x
Ares Corporate Opportunities Fund II, L.P. 2006 $200,000,000 $224,922,280 $358,949,876 $379,810,891 13.5% 1.7x
Ares Corporate Opportunities Fund III, L.P. 2008 $400,000,000 $500,303,388 $575,940,758 $925,140,749 21.1% 1.8x
Ares Corporate Opportunities Fund, L.P. 2003 $100,000,000 $135,853,818 $195,525,758 $202,804,846 13.3% 1.5x
Ares Special Situations Fund, L.P. 2007 $150,000,000 $150,000,000 $254,628,433 $261,429,412 12.4% 1.7x
Asia Alternatives Capital Partners II LP 2008 $48,933,451 $48,533,961 $31,985,305 $104,576,471 21.1% 2.2x
Asia Alternatives Capital Partners, LP 2007 $50,000,000 $52,940,856 $66,528,040 $101,170,832 13.0% 1.9x
Avenue Asia Special Situations Fund IV, L.P. 2006 $300,000,000 $271,629,915 $262,681,719 $290,950,692 1.5% 1.1x
Avenue Europe Special Situations Fund, L.P. 2008 $204,480,542 $211,863,792 $282,142,472 $283,251,937 12.2% 1.3x
Avenue Special Situations Fund IV, L.P. 2006 $150,000,000 $150,000,000 $206,705,249 $212,259,714 8.7% 1.4x
Avenue Special Situations Fund V, L.P. 2007 $400,000,000 $473,059,573 $602,296,541 $606,920,378 11.3% 1.3x
Avenue Special Situations Fund VI (A), L.P. 2011 $150,000,000 $153,245,391 $113,660,476 $170,450,443 2.6% 1.1x
Baring Vostok Private Equity Fund IV L.P. / Supplemental 2007 $77,775,000 $85,159,630 $43,218,211 $96,106,198 2.8% 1.1x
Birch Hill Equity Partners (US) III, LP 2005 $126,227,808 $141,750,137 $220,421,506 $255,684,412 12.0% 1.8x
Birch Hill Equity Partners (US) IV, LP 2011 $136,535,788 $122,232,020 $37,253,934 $163,050,742 9.7% 1.3x
Blackstone / GSO Capital Solutions Fund, LP 2010 $250,000,000 $352,262,967 $376,929,041 $446,388,753 11.4% 1.3x
Blackstone Capital Partners IV L.P. 2003 $200,000,000 $229,084,876 $507,489,982 $559,787,397 36.4% 2.4x
Blackstone Capital Partners V L.P. 2006 $600,000,000 $792,859,169 $1,059,881,715 $1,204,335,816 7.8% 1.5x
Blackstone Capital Partners VI L.P. 2011 $500,000,000 $487,344,170 $137,610,494 $627,626,605 11.4% 1.3x
Blackstone Capital Partners VII, L.P. 2016 $500,000,000 $4,174,888 $31,959 $3,109,445 N/M 1 N/M 1
Blackstone Communications Partners I L.P. 2000 $100,000,000 $111,226,418 $135,405,102 $136,460,499 6.6% 1.2x
Blackstone Mezzanine Partners, LP 1999 $100,000,000 $92,784,729 $117,110,759 $117,110,759 8.6% 1.3x
Blackstone Tactical Opportunities Fund - C L.P. 2012 $800,000,000 $899,715,186 $458,509,537 $1,101,496,829 11.3% 1 1.2x 1
Blackstone Tactical Opportunities Fund II - C L.P. 2015 $500,000,000 $181,563,301 $30,277,561 $220,967,983 23.6% 1 1.2x 1
Bridgepoint Europe II 'A' LP 2001 $112,378,604 $127,309,360 $225,240,687 $227,292,574 29.3% 1.8x
Bridgepoint Europe III 'D' LP 2005 $202,158,000 $191,932,333 $125,857,852 $212,508,829 1.5% 1.1x
Bridgepoint Europe IV 'D' LP 2008 $397,502,907 $376,411,805 $369,912,603 $556,305,952 10.6% 1.5x
Bridgepoint Europe V 2014 $375,401,659 $110,088,575 $0 $126,932,719 23.6% 1 1.2x 1
California Asia Investors, L.P. 2008 $150,000,000 $145,841,564 $124,885,528 $602,153,239 37.0% 4.1x
California Community Venture Fund, LLC 2003 $100,000,000 $100,067,655 $69,824,866 $97,014,374 -0.6% 1.0x
California Emerging Ventures II, LLC 1999 $1,351,901,160 $1,391,249,637 $1,626,764,740 $1,724,081,466 4.0% 1.2x
California Emerging Ventures III, LLC 2001 $477,539,317 $576,070,019 $675,861,292 $800,365,789 7.3% 1.4x
California Emerging Ventures IV, LLC 2006 $460,773,641 $475,545,677 $496,265,901 $807,180,259 12.4% 1.7x
California Emerging Ventures, LLC 1999 $957,617,936 $1,094,910,666 $1,253,482,623 $1,276,807,051 3.6% 1.2x
California Mezzanine Investment Fund, L.P. 2016 $80,000,000 $18,910,619 $0 $20,860,663 42.9% 1 1.1x 1
CalPERS Clean Energy & Technology Fund, LLC 2007 $465,000,000 $454,632,458 $69,900,633 $259,284,831 -10.0% 0.6x
CalPERS Corporate Partners, LLC 2001 $500,000,000 $523,172,557 $829,286,225 $834,477,133 9.5% 1.6x
CalPERS Wellspring V, L.P. 2011 $24,975,000 $24,928,760 $23,227,895 $43,187,562 27.6% 1.7x
Capital Link Fund I, LLC 2007 $502,000,000 $588,687,411 $532,702,317 $835,582,344 8.1% 1.4x
Capital Link Fund II, LLC 2008 $435,000,000 $453,878,080 $402,113,531 $678,489,132 12.0% 1.5x
Carlyle Asia Growth Partners III, L.P. 2005 $75,000,000 $84,524,853 $74,744,612 $80,104,341 -1.0% 0.9x
Carlyle Asia Growth Partners IV, L.P. 2008 $150,000,000 $160,724,781 $84,798,645 $198,362,736 6.4% 1.2x
Carlyle Asia Partners (PV II), L.P. 2000 $75,000,000 $78,409,168 $214,068,678 $214,068,678 18.4% 2.7x
Carlyle Asia Partners II, L.P. 2006 $150,000,000 $166,392,590 $235,623,465 $250,613,647 8.0% 1.5x
Carlyle Asia Partners III, L.P. 2008 $300,000,000 $366,798,412 $388,005,057 $543,106,662 12.6% 1.5x
Carlyle Europe Partners II, L.P. 2003 $73,682,366 $93,084,006 $141,091,969 $147,451,239 19.7% 1.6x
Carlyle Europe Partners III, L.P. 2007 $420,356,579 $453,632,596 $598,578,610 $700,030,082 10.8% 1.5x
Carlyle Europe Real Estate Partners, L.P. 2002 $30,633,213 $40,959,165 $60,394,091 $60,394,091 13.9% 1.5x
Carlyle Europe Technology Partners II, L.P. 2008 $102,308,831 $108,824,846 $148,904,183 $177,073,705 14.0% 1.6x
Carlyle Global Financial Services Partners, L.P. 2008 $150,000,000 $190,259,738 $200,489,773 $301,062,871 13.1% 1.6x
Carlyle Japan Partners II, L.P. 2006 $157,697,038 $161,853,708 $124,515,452 $167,003,776 0.7% 1.0x
Carlyle Japan Partners, L.P. 2001 $25,823,582 $38,722,584 $76,795,315 $76,795,315 34.1% 2.0x
Carlyle Mexico Partners, L.P. 2005 $25,000,000 $30,754,527 $36,221,350 $37,736,776 8.3% 1.2x
Carlyle Partners IV L.P. 2005 $300,000,000 $315,676,076 $656,869,332 $667,708,741 14.6% 2.1x
Carlyle Partners V, L.P. 2007 $800,000,000 $1,054,474,855 $1,354,158,300 $1,602,078,135 12.3% 1.5x
Carlyle Partners VI, L.P. 2013 $547,000,000 $331,921,733 $88,158,535 $375,530,377 8.0% 1 1.1x 1
Carlyle Realty Partners III, L.P. 2001 $50,000,000 $66,576,246 $121,884,432 $145,194,133 28.4% 2.2x
Carlyle Strategic Partners II, L.P. 2007 $75,000,000 $148,908,345 $183,519,829 $191,484,046 11.3% 1.3x
Carlyle Strategic Partners IV, L.P. 2016 $150,000,000 $7,750,881 $0 $6,342,117 N/M 1 N/M 1
Carlyle U.S. Equity Opportunities II, L.P. 2015 $200,000,000 $53,569,803 $320,590 $54,234,057 1.6% 1 1.0x 1
Carlyle U.S. Growth Fund III, L.P. 2006 $75,000,000 $91,700,666 $111,125,661 $121,941,441 7.4% 1.3x
Carlyle Venture Partners II, L.P. 2001 $50,000,000 $77,961,078 $75,168,763 $86,299,739 2.3% 1.1x
Carlyle/Riverstone Global Energy and Power Fund II 2003 $75,000,000 $123,149,609 $212,461,505 $218,062,678 52.7% 1.8x
Carlyle/Riverstone Global Energy and Power Fund III, L.P. 2005 $250,000,000 $266,017,097 $309,080,213 $346,239,899 5.9% 1.3x
Carlyle/Riverstone Renewable Energy Infrastructure Fund I 2006 $60,000,000 $60,235,817 $7,694,697 $7,694,697 -34.9% 0.1x
Castlelake I, L.P. 2007 $75,000,000 $76,665,133 $89,401,117 $116,612,270 6.1% 1.5x
CDH Fund V, L.P. 2014 $200,000,000 $128,980,604 $13,498,131 $139,609,631 4.9% 1 1.1x 1
Centerbridge Capital Partners III, L.P. 2015 $150,000,000 $40,903,813 $1,807,773 $47,570,909 13.0% 1 1.2x 1
Cerberus CP Partners LP 2013 $600,000,000 $603,337,055 $171,287,129 $991,636,008 28.5% 1 1.6x 1
Cerberus Institutional Partners V, L.P. 2012 $400,000,000 $479,288,769 $206,684,783 $758,365,856 18.3% 1 1.6x 1
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 $40,629,150 $42,228,925 $52,875,428 4.8% 1.3x
Clarus Lifesciences II, L.P. 2008 $75,000,000 $69,802,500 $75,409,761 $140,391,012 18.9% 2.0x
Clearlake Capital Partners III, LP 2012 $50,000,000 $60,204,659 $52,756,041 $106,555,483 35.8% 1 1.8x 1
Clearlake Capital Partners IV, L.P. 2015 $56,700,000 $29,854,867 $340,028 $37,586,406 36.9% 1 1.3x 1
Clearlake Opportunities Partners (P), L.P. 2015 $56,700,000 $19,311,277 $778,659 $19,978,020 5.3% 1 1.0x 1
Clearwater Capital Partners Fund I, L.P. 2007 $7,381,847 $41,735,012 $35,355,880 $35,409,728 -5.1% 0.8x
Clearwater Capital Partners Fund II Holdings, L.P. 2005 $54,375,000 $63,247,676 $77,754,778 $81,504,112 4.8% 1.3x
Clearwater Capital Partners Fund III, L.P. 2006 $150,000,000 $150,000,000 $128,937,554 $193,665,536 4.1% 1.3x
Coller International Partners V-A, L.P. 2006 $375,000,000 $319,782,871 $378,531,807 $457,562,554 8.6% 1.4x
Craton Equity Investors I, L.P. 2007 $38,153,846 $39,334,061 $5,214,248 $10,709,166 -20.2% 0.3x
CVC Capital Partners VI, L.P. 2014 $547,384,681 $322,526,513 $15,036,300 $341,284,119 6.1% 1 1.1x 1
CVC Credit Strategic Investment A L.P. 2014 $200,081,015 $101,708,277 $0 $125,143,906 27.0% 1 1.2x 1
CVC European Equity Partners II (D) L.P. 1998 $148,654,394 $174,585,775 $367,821,739 $367,821,739 19.0% 2.1x
CVC European Equity Partners III LP 2001 $200,000,000 $228,470,675 $592,407,402 $597,744,719 41.1% 2.6x
CVC European Equity Partners IV (D) L.P. 2005 $333,857,199 $406,391,792 $672,393,596 $721,776,541 17.2% 1.8x
CVC European Equity Partners Tandem Fund (B) L.P. 2007 $477,029,312 $570,429,899 $716,841,192 $733,779,676 6.7% 1.3x
CVC European Equity Partners V (B) L.P. 2008 $575,398,013 $696,473,521 $733,496,470 $1,056,477,140 13.9% 1.5x
EMAlternatives Investments, L.P. 2007 $100,000,000 $111,840,163 $66,515,591 $139,287,934 5.5% 1.2x
Essex Woodlands Health Ventures Fund VIII, L.P. 2008 $125,000,000 $125,000,000 $38,180,543 $140,930,476 3.0% 1.1x
First Reserve Fund XI, L.P. 2006 $500,000,000 $570,173,986 $348,814,987 $404,812,130 -8.9% 0.7x
First Reserve Fund XII, L.P. 2008 $300,000,000 $340,204,362 $159,381,304 $249,042,504 -8.7% 0.7x
First Reserve Fund XIII, LP 2014 $400,000,000 $100,299,642 $4,690,818 $119,197,231 15.1% 1 1.2x 1
Francisco Partners II, L.P. 2006 $175,000,000 $168,878,482 $210,687,208 $264,243,308 10.4% 1.6x
Francisco Partners III, L.P. 2011 $100,000,000 $92,305,815 $21,664,175 $157,614,833 16.6% 1.7x
Francisco Partners, L.P. 2000 $50,000,000 $52,713,112 $65,179,486 $66,637,687 4.4% 1.3x
GCM Grosvenor DEM II, L.P. 2014 $200,000,000 $41,107,049 $20,818,286 $44,341,118 9.2% 1 1.1x 1
GCM Grosvenor DEM, L.P. 2012 $100,000,000 $53,962,811 $14,579,976 $56,899,579 4.7% 1 1.1x 1
Generation Capital Partners, L.P. 1996 $50,000,000 $54,064,964 $65,798,632 $66,092,940 6.3% 1.2x
Golden State Investment Fund, LLC 2006 $533,058,824 $508,855,330 $531,960,673 $754,718,994 8.3% 1.5x
Green Equity Investors IV, L.P. 2003 $168,628,515 $170,691,565 $309,157,573 $319,639,078 11.2% 1.9x
Green Equity Investors V, L.P. 2007 $400,000,000 $446,335,956 $561,001,578 $853,393,008 18.3% 1.9x
GSO Capital Opportunities Fund II L.P. 2011 $250,000,000 $263,307,772 $174,427,228 $316,120,484 14.4% 1.2x
GSO Capital Opportunities Fund L.P. 2008 $100,000,000 $165,718,647 $225,823,299 $231,467,529 17.4% 1.4x
GSO Capital Solutions Fund II, L.P. 2014 $500,000,000 $248,470,727 $55,154,562 $299,749,973 18.9% 1 1.2x 1
GSO Energy Partners-C II LP 2016 $250,000,000 $49,245,005 $1,459,566 $63,665,671 N/M 1 N/M 1
GSO Energy Partners-C LP 2013 $400,000,000 $305,907,994 $115,319,822 $313,934,677 1.6% 1 1.0x 1
Hellman & Friedman Capital Partners V LP 2004 $200,000,000 $183,940,613 $484,300,130 $488,998,818 27.9% 2.7x
Hellman & Friedman Capital Partners VI 2007 $600,000,000 $612,470,634 $953,405,567 $1,094,133,625 13.0% 1.8x
Hellman & Friedman Capital Partners VII 2011 $300,000,000 $283,445,747 $126,132,826 $437,990,901 17.0% 1.5x
Hellman & Friedman Capital Partners VIII, L.P. 2016 $500,000,000 $31,699,648 $6,643,956 $31,293,590 N/M 1 N/M 1
ICV Partners II, L.P. 2005 $31,220,000 $40,134,173 $60,554,899 $66,766,730 13.4% 1.7x
Insight Venture Partners IX, L.P. 2015 $100,000,000 $61,599,061 $55,082 $65,623,742 7.3% 1 1.1x 1
Insight Venture Partners V, L.P. 2005 $32,500,000 $32,500,000 $75,823,966 $88,750,686 21.0% 2.7x
Insight Venture Partners VI, L.P. 2007 $68,000,000 $73,833,084 $141,417,425 $173,152,961 19.0% 2.3x
Khosla Ventures III, L.P. 2009 $200,000,000 $195,000,000 $72,775,110 $264,215,435 6.2% 1.4x
Khosla Ventures Seed, L.P. 2009 $60,000,000 $59,100,000 $10,504,328 $87,505,637 8.1% 1.5x
KKR 2006 Fund L.P. 2006 $400,000,000 $592,131,435 $639,170,107 $848,995,531 7.6% 1.4x
KKR Asian Fund II L.P. 2013 $500,000,000 $349,476,783 $71,977,662 $479,814,843 21.7% 1 1.4x 1
KKR Asian Fund L.P. 2007 $275,000,000 $347,967,020 $508,768,243 $575,880,706 13.5% 1.7x
KKR European Fund II, L.P. 2005 $203,526,324 $236,029,618 $288,723,290 $294,938,040 3.9% 1.2x
KKR European Fund III, L.P. 2008 $345,185,359 $417,129,373 $383,286,702 $544,246,549 8.4% 1.3x
KKR European Fund, L. P. 2001 $75,000,000 $99,833,639 $216,818,861 $216,818,861 24.7% 2.2x
KKR Millennium Fund L.P. 2002 $150,000,000 $208,147,033 $351,063,079 $368,411,543 16.3% 1.8x
Kline Hawkes Pacific, L.P. 2000 $100,000,000 $100,000,000 $46,954,699 $68,215,054 -5.0% 0.7x
KM Corporate Partners Fund II, LP 2007 $200,000,000 $191,352,633 $148,994,426 $285,000,801 9.2% 1.5x
KPS Special Situations Fund III, LP 2007 $175,000,000 $243,038,052 $321,244,648 $384,372,334 23.0% 1.6x
Lime Rock Partners IV, LP 2006 $43,000,000 $47,445,122 $30,580,963 $134,329,057 16.2% 2.8x
Lime Rock Partners V, L.P. 2008 $85,000,000 $92,471,485 $47,213,687 $84,541,725 -2.2% 0.9x
Lindsay Goldberg IV, L.P. 2015 $250,000,000 $32,257,116 $4,150,467 $35,433,147 19.1% 1 1.1x 1
Lion Capital Fund II, L.P. 2007 $221,579,990 $259,384,023 $169,992,498 $198,151,076 -5.8% 0.8x
Madison Dearborn Capital Partners IV, L.P. 2000 $150,000,000 $173,964,778 $302,551,626 $316,531,896 14.2% 1.8x
Madison Dearborn Capital Partners V, L.P. 2006 $300,000,000 $351,454,364 $456,690,753 $515,694,558 7.0% 1.5x
Magnum Capital, L.P. 2007 $136,519,161 $144,731,045 $113,757,915 $177,596,153 4.7% 1.2x
MHR Institutional Partners II LP 2003 $50,000,000 $53,000,000 $68,473,062 $90,156,718 10.7% 1.7x
MHR Institutional Partners III LP 2006 $350,000,000 $371,000,000 $358,507,918 $518,825,313 7.1% 1.4x
New Mountain Partners II, L.P. 2005 $150,000,000 $137,788,835 $264,006,690 $265,772,654 13.7% 1.9x
New Mountain Partners III, L.P. 2007 $400,000,000 $449,906,506 $424,553,670 $761,298,507 12.9% 1.7x
Newbridge Asia IV, L.P. 2005 $180,000,000 $195,554,362 $392,238,244 $408,506,224 16.8% 2.1x
Nogales Investors Fund I , LP 2001 $25,000,000 $33,953,285 $24,056,581 $24,133,341 -8.0% 0.7x
Oak Hill Capital Partners II, L.P. 2004 $75,000,000 $86,560,042 $132,019,074 $136,836,291 9.8% 1.6x
Oak Hill Capital Partners III, L.P. 2007 $300,000,000 $367,901,066 $350,156,415 $549,593,413 10.2% 1.5x
Oaktree Opportunities Fund VIIIb, L.P. 2011 $200,000,000 $200,000,000 $93,368,906 $229,216,426 3.7% 1.1x
Onex Partners IV, L.P. 2014 $300,000,000 $187,830,510 $12,415,375 $192,478,036 2.4% 1 1.0x 1
PAG Asia I LP 2012 $100,000,000 $109,475,289 $73,979,845 $152,788,141 18.5% 1 1.4x 1
Palladium Equity Partners III, L.P. 2004 $193,750,000 $251,501,534 $339,670,539 $446,314,485 16.7% 1.8x
Patria Brazilian Private Equity Fund V, L.P. 2015 $150,000,000 $10,028,293 $0 $9,047,605 -13.6% 1 0.9x 1
Permira Europe III 2004 $126,989,866 $126,989,866 $215,032,163 $218,683,393 26.6% 1.7x
Permira IV L.P.2 2006 $288,293,556 $349,848,634 $437,582,687 $500,274,494 7.5% 1.4x
Permira V, L.P. 2014 $265,857,547 $235,599,992 $3,098,559 $249,025,127 3.5% 1 1.1x 1
Polish Enterprise Fund V, L.P. 2004 $59,246,674 $69,430,445 $129,792,823 $133,941,843 15.1% 1.9x
Polish Enterprise Fund VI, L.P. 2006 $139,207,071 $143,890,000 $44,741,326 $185,585,225 4.2% 1.3x
Providence Equity Partners V 2005 $125,000,000 $157,796,229 $172,746,316 $192,526,812 3.8% 1.2x
Providence Equity Partners VI L.P. 2007 $320,000,000 $498,134,890 $462,039,945 $628,744,628 5.9% 1.3x
RFG Private Equity Limited Partnership No. 1A, 1B and 1C 2004 $33,957,239 $33,964,880 $39,754,462 $47,421,208 7.5% 1.4x
Rhone Partners III, L.P. 2006 $135,065,965 $145,326,327 $183,275,121 $197,619,073 9.0% 1.4x
Richardson Capital Private Equity Limited Partnership No.2A, 2B and 2C 2006 $41,472,099 $25,025,824 $12,093,817 $13,287,035 -11.9% 0.5x
Riverstone Global Energy and Power Fund V, L.P. 2012 $400,000,000 $394,959,699 $171,878,384 $407,710,719 1.5% 1 1.0x 1
Riverstone Global Energy and Power Fund VI, L.P. 2016 $500,000,000 $66,623,326 $366,235 $137,577,922 N/M 1 N/M 1
Riverstone/Carlyle Global Energy and Power Fund IV, L.P. 2008 $500,000,000 $567,390,117 $394,667,017 $660,629,113 4.9% 1.2x
Riverstone/Carlyle Renewable & Alternative Energy Fund II, L.P. 2008 $300,000,000 $323,135,134 $205,833,937 $384,355,738 4.8% 1.2x
Riverwood Capital Partners (Parallel - A) L.P. 2010 $150,000,000 $166,623,673 $250,338,391 $327,168,715 25.6% 2.0x
Sacramento Private Equity Partners, L.P. 2006 $605,000,000 $519,585,952 $509,997,756 $819,832,258 10.1% 1.6x
SAIF Partners III L.P. 2007 $100,000,000 $125,245,773 $82,470,930 $247,805,555 10.7% 2.0x
SAIF Partners IV L.P. 2010 $120,000,000 $140,889,266 $33,246,999 $197,306,950 9.6% 1.4x
Sankaty Managed Account (CalPERS), L.P. 2014 $500,000,001 $309,230,001 $12,870,000 $326,289,215 5.3% 1 1.1x 1
Silver Lake Partners II, L.P. 2004 $125,000,000 $135,371,714 $215,616,378 $238,863,548 11.3% 1.8x
Silver Lake Partners III, L.P. 2007 $480,000,000 $603,982,810 $732,033,512 $1,045,456,906 18.2% 1.7x
Silver Lake Partners IV, L.P. 2013 $320,000,000 $227,570,033 $99,513,682 $316,972,165 29.2% 1 1.4x 1
Siris Partners III, L.P. 2015 $75,000,000 $33,388,125 $3,234,662 $33,355,456 -0.2% 1 1.0x 1
Tailwind Capital Partners (PP), LP 2007 $77,510,000 $93,624,919 $112,373,302 $143,488,620 12.3% 1.5x
Tailwind Capital Partners II, LP 2014 $150,000,000 $101,910,513 $13,800,421 $122,769,939 20.6% 1 1.2x 1
Technology Partners Fund VI, L.P. 1998 $20,567,775 $25,000,000 $13,043,551 $13,043,551 -14.8% 0.5x
The Central Valley Fund II SBIC, LP 2012 $12,000,000 $7,111,040 $822,134 $10,718,529 14.8% 1 1.5x 1
The Central Valley Fund, LP 2005 $40,000,000 $32,287,502 $40,822,401 $41,436,543 9.1% 1.3x
The Resolute Fund II, L.P. 2008 $200,000,000 $210,320,864 $193,698,540 $297,188,921 9.1% 1.4x
Thomas H. Lee Equity Fund VI, L.P 2006 $240,000,000 $402,180,412 $393,201,550 $545,935,488 7.4% 1.4x
TowerBrook Investors II, L.P. 2005 $200,000,000 $193,498,058 $261,277,697 $313,887,570 10.1% 1.6x
TowerBrook Investors III, L.P. 2008 $300,000,000 $319,204,234 $335,842,042 $425,685,038 10.2% 1.3x
TowerBrook Investors IV (Onshore), L.P. 2013 $380,000,000 $99,353,080 $41,255,468 $141,989,199 34.8% 1 1.4x 1
Towerbrook Structured Opportunities Fund (Onshore), L.P. 2016 $221,786,667 $34,685,837 $6,856,133 $31,091,000 N/M 1 N/M 1
TPG Asia V, L.P. 2007 $360,000,000 $350,097,403 $298,033,244 $444,939,185 5.3% 1.3x
TPG Biotechnology Partners II, L.P. 2006 $70,000,000 $71,888,857 $50,964,434 $71,195,062 -0.2% 1.0x
TPG Biotechnology Partners III, L.P. 2008 $100,000,000 $95,537,100 $62,637,194 $122,198,636 6.1% 1.3x
TPG Partners IV, L.P. 2003 $200,000,000 $225,811,312 $414,289,893 $438,786,802 15.6% 1.9x
TPG Partners V, L.P. 2006 $600,000,000 $811,329,685 $781,953,318 $1,007,527,034 3.9% 1.2x
TPG Partners VI, L.P. 2008 $825,000,000 $921,382,578 $816,627,335 $1,337,099,995 10.9% 1.5x
TPG STAR, L.P. 2007 $150,000,000 $166,385,315 $172,775,482 $260,137,713 11.3% 1.6x
Trident VI 2014 $250,000,000 $152,947,885 $19,314,892 $176,001,396 11.7% 1 1.2x 1
Triton Fund IV L.P. 2013 $87,263,838 $45,987,836 $14,916,924 $44,072,529 -2.2% 1 1.0x 1
VantagePoint CleanTech Partners, L.P. 2006 $25,000,000 $25,000,000 $12,704,911 $21,432,639 -3.6% 0.9x
VantagePoint Venture Partners 2006 (Q), L.P. 2006 $100,000,000 $100,000,000 $7,837,270 $50,003,451 -12.0% 0.5x
Vicente Capital Partners Growth Equity Fund, L.P. 2007 $40,422,297 $39,685,072 $23,631,776 $57,585,253 8.5% 1.5x
W Capital Partners II, L.P. 2007 $141,125,000 $140,615,876 $154,707,646 $199,155,953 11.1% 1.4x
Wellspring Capital Partners V, L.P. 2011 $150,000,000 $164,680,244 $139,908,237 $242,004,288 18.3% 1.5x
Welsh, Carson, Anderson & Stowe X, L.P. 2005 $175,000,000 $171,500,000 $256,988,118 $290,247,583 8.1% 1.7x
Welsh, Carson, Anderson & Stowe XI, L.P. 2009 $125,000,000 $122,647,539 $104,131,789 $191,426,990 13.2% 1.6x
Welsh, Carson, Anderson & Stowe XII, L.P. 2015 $350,000,000 $97,484,824 $0 $112,483,411 11.0% 1 1.2x 1
WLR Recovery Fund II, L.P. 2002 $50,000,000 $50,000,000 $120,565,266 $121,479,446 78.8% 2.4x
WLR Recovery Fund III, L.P. 2005 $198,000,000 $198,000,000 $128,751,577 $161,647,447 -3.8% 0.8x
WLR Recovery Fund IV, L.P. 2007 $400,000,000 $363,747,718 $440,683,549 $497,415,680 8.0% 1.4x
Yucaipa American Alliance Fund I, L.P. 2002 $200,000,000 $314,764,188 $268,050,907 $340,379,859 2.4% 1.1x
Yucaipa American Alliance Fund II, L.P. 2008 $400,000,000 $557,456,161 $335,052,025 $762,352,408 8.2% 1.4x
Yucaipa Corporate Initiatives Fund I, L.P. 2001 $200,000,000 $288,655,697 $167,303,256 $218,066,608 -4.8% 0.8x
Yucaipa Corporate Initiatives Fund II, L.P. 2008 $93,539,524 $91,165,727 $28,150,439 $84,387,918 -1.6% 0.9x

1Not Meaningful: Funds with a vintage year of 2012 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.