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 March 31, 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            
Aldrich Capital Partners Fund, LP 2018 $8,663,366 $4,929,118 $0 $7,526,466 22.5%1 1.5x
Arcadius (SW) Energy Capital, LP 2018 $14,851,485 $13,026,038 $0 $8,955,928 -14.2%1 0.7x
Argand Partners Fund, LP 2017 $14,851,485 $14,166,275 $0 $22,170,388 18.8%1 1.6x
Avante Mezzanine Partners SBIC II, LP 2015 $14,563,107 $10,922,330 $946,602 $13,990,891 9.5% 1.3x
Crayhill Capital Management LP Master Co-Investment 2018 $3,300,330 $2,979,571 $2,840,522 $3,550,307 13.2%1 1.2x
Crayhill Principal Strategies Fund LP 2017 $6,600,660 $4,137,136 $5,357,214 $5,357,214 12.1%1 1.3x
CRG Partners III (Holdings 2) L.P. 2016 $11,165,049 $5,295,021 $727,702 $9,541,997 12.5% 1.8x
EIV Capital Fund II, LP 2014 $14,851,485 $12,113,762 $3,531,853 $15,995,623 12.2% 1.3x
Gemspring Capital Fund I, LP 2017 $14,851,485 $11,281,331 $15,374,231 $28,741,042 77.7%1 2.5x
Gemspring Capital Fund II, LP 2020 $19,819,820 $983,762 $764 $473,878 N/M1 N/M
Grain Communications Opportunity Fund II, L.P. 2018 $19,801,980 $12,059,805 $0 $14,185,872 12%1 1.2x
HPH II FF, LP 2019 $34,684,685 $21,443,478 $161,984 $28,862,865 38.6%1 1.3x
Juggernaut Capital Partners III, L.P. 2015 $8,663,366 $6,397,281 $4,550,783 $12,753,828 15.7% 2.0x
Kingswood Capital Opportunities Fund I, L.P. 2019 $34,684,685 $5,863,910 $8,730 $4,396,203 -55.8%1 0.7x
Maranon Mezzanine Fund II, L.P. 2014 $9,223,301 $7,774,395 $9,608,925 $12,941,632 13.8% 1.7x
Mill Point Capital Partners, L.P. 2017 $14,851,485 $11,866,470 $0 $20,811,832 31.2%1 1.8x
New Heritage Capital Fund 2014 $9,320,388 $8,371,433 $5,956,615 $15,846,551 19.1% 1.9x
New Heritage Capital Fund III, L.P. 2019 $9,900,990 $4,409,664 $124,568 $6,165,732 38.1%1 1.4x
NHC III GCM Co-Investors, L.P. 2019 $4,950,495 $2,521,521 $76,571 $3,953,612 52.2%1 1.6x
NovaQuest Pharma Opportunities Fund IV, L.P. 2015 $9,320,388 $7,893,071 $236,058 $4,910,733 -11.6% 0.6x
ParkerGale Capital, LP 2015 $14,851,485 $14,257,428 $435,873 $18,783,703 7.9% 1.3x
Peak Rock Capital Credit Fund II, L.P. 2017 $2,970,297 $929,511 $608,830 $942,234 1.7%1 1.0x
Peak Rock Capital Fund II, LP 2017 $11,881,188 $8,519,533 $4,351,295 $12,295,609 39%1 1.4x
Peak Rock Capital Fund LP 2013 $9,223,301 $8,395,981 $8,688,531 $13,306,779 20.4% 1.6x
Resolve Growth Partners Fund I (Side Car), L.P. 2019 $5,662,806 $1,478,112 $0 $1,411,450 -4.8%1 1.0x
Resolve Growth Partners Fund I, L.P. 2019 $14,157,014 $6,579,133 $33,645 $6,835,655 4.2%1 1.0x
Resurgens Technology Partners, L.P. 2018 $8,663,366 $6,232,006 $122,472 $8,461,866 19.9%1 1.4x
Revelstoke Capital Partners Fund I, L.P. 2015 $14,851,485 $14,098,840 $12,747,347 $31,694,631 19.1% 2.2x
Reverence Capital Partners Opportunities Fund II, L.P. 2018 $14,851,485 $6,112,777 $0 $8,417,822 18.7%1 1.4x
Siris Partners II, L.P. 2012 $9,320,388 $8,086,717 $6,365,925 $10,731,862 8% 1.3x
Stellex Capital Partners LP 2015 $14,563,107 $8,929,008 $7,277,191 $15,697,524 22.5% 1.8x
The Central Valley Fund III (SBIC), LP 2017 $9,900,990 $6,138,614 $0 $7,059,817 5.5%1 1.2x
Tritium I, L.P. 2015 $8,663,366 $7,430,073 $11,647,420 $17,722,062 26.7% 2.4x
Valor Equity Partners III L.P. 2013 $9,320,388 $9,376,740 $1,406,961 $17,967,933 13.5% 1.9x
Vistria Fund II, LP 2017 $14,851,485 $11,835,871 $6,019,466 $23,695,558 32.9%1 2.0x
Vistria Fund III, LP 2020 $34,684,685 $20,048,478 $0 $21,652,651 N/M1 N/M

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.