Private Equity Program (PEP) Fund Performance Review
As of September 30, 2024, the since inception Net IRR is 11.1% and the Net Multiple is 1.5x.
The table below reflects the performance of all active PE partnership investments as of September 30, 2024. 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 | ||||||
| 2SP I, L.P. | 2024 | $300,000,000 | $51,024,795 | $0 | $54,603,970 | N/M 1 | N/M 1 |
| 57 Stars Global Opportunities Fund 2 (CalPERS), LLC | 2009 | $500,000,000 | $526,676,521 | $506,320,972 | $778,823,239 | 6.4% | 1.5x |
| 57 Stars Global Opportunities Fund, LLC | 2007 | $430,000,000 | $414,573,755 | $556,926,370 | $570,961,338 | 5.9% | 1.4x |
| AACP AP Investors, L.P. | 2007 | $14,108,080 | $14,957,430 | $16,898,666 | $16,965,087 | 2.1% | 1.1x |
| AACP China Growth Investors | 2007 | $50,000,000 | $52,040,183 | $83,160,811 | $84,110,160 | 7.9% | 1.6x |
| AACP India Investors B | 2007 | $5,000,000 | $5,283,795 | $20,533,202 | $21,937,761 | 13.0% | 4.2x |
| AACP India Investors C | 2009 | $5,000,000 | $5,315,535 | $2,411,954 | $7,774,376 | 4.5% | 1.5x |
| AACP India Venture Investors A | 2007 | $5,000,000 | $5,065,536 | $5,653,594 | $5,904,093 | 2.3% | 1.2x |
| Acrew Capital Fund III, L.P. | 2024 | $70,000,000 | $5,148,666 | $0 | $4,465,818 | N/M 1 | N/M 1 |
| Advent Global Technology II Limited Partnership | 2022 | $150,000,000 | $78,792,076 | $0 | $97,216,990 | 13.1% 1 | 1.2x 1 |
| Advent International GPE IX Limited Partnership | 2019 | $550,000,000 | $514,285,156 | $101,721,342 | $835,591,467 | 16.8% | 1.6x |
| Advent International GPE V-D, L.P. | 2005 | $80,917,166 | $77,609,736 | $185,526,402 | $187,574,380 | 42.7% | 2.4x |
| Advent International GPE VI-A, L.P. | 2008 | $500,000,000 | $502,306,204 | $1,006,375,016 | $1,046,549,983 | 16.4% | 2.1x |
| Advent International GPE VII-C, L.P. | 2012 | $450,000,000 | $432,732,784 | $733,760,966 | $783,957,015 | 13.2% | 1.8x |
| Advent International GPE VIII-B Limited Partnership | 2016 | $500,000,000 | $500,000,000 | $601,608,489 | $1,048,287,342 | 16.6% | 2.1x |
| Advent International GPE X Limited Partnership | 2022 | $650,000,000 | $303,948,740 | $0 | $376,625,074 | 21.5% 1 | 1.2x 1 |
| AlpInvest Secondaries Fund (onshore) VII, L.P. | 2021 | $500,000,000 | $353,650,263 | $98,254,290 | $490,868,964 | 19.3% 1 | 1.4x 1 |
| Amberbrook IX LP | 2023 | $150,000,000 | $59,503,333 | $1,790,547 | $92,220,448 | N/M 1 | N/M 1 |
| American Industrial Partners Capital Fund VIII, L.P. | 2024 | $200,000,000 | $61,988,411 | $2,022,420 | $59,193,130 | N/M 1 | N/M 1 |
| AMZL, LP | 2023 | $250,000,000 | $197,780,682 | $0 | $176,516,918 | N/M 1 | N/M 1 |
| Apollo European Principal Finance Fund, L.P. | 2008 | $87,043,456 | $165,281,284 | $200,770,615 | $200,902,544 | 11.9% | 1.2x |
| Apollo Investment Fund IV, L.P. | 1998 | $150,000,000 | $154,085,315 | $254,289,011 | $254,345,718 | 8.5% | 1.7x |
| Apollo Investment Fund IX, L.P | 2019 | $550,000,000 | $528,505,465 | $283,801,008 | $813,696,137 | 18.6% | 1.5x |
| Apollo Investment Fund V, L.P. | 2001 | $250,000,000 | $388,164,138 | $779,054,066 | $779,054,066 | 37.5% | 2.0x |
| Apollo Investment Fund VI, L.P. | 2006 | $520,000,000 | $866,357,105 | $1,218,417,644 | $1,227,278,478 | 8.2% | 1.4x |
| Apollo Investment Fund VIII, L.P. | 2013 | $350,000,000 | $497,164,278 | $616,139,826 | $711,187,361 | 8.9% | 1.4x |
| Apollo Investment Fund X, L.P. | 2023 | $225,000,000 | $69,630,562 | $13,589,562 | $75,814,091 | N/M 1 | N/M 1 |
| Apollo Special Opportunities Managed Account, L.P. | 2007 | $800,000,000 | $800,000,000 | $1,077,870,529 | $1,098,485,165 | 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 III, L.P. | 2008 | $400,000,000 | $512,078,628 | $1,059,418,691 | $1,059,418,691 | 20.2% | 2.1x |
| Ares Corporate Opportunities Fund V, L.P. | 2017 | $425,000,000 | $476,499,040 | $218,196,668 | $627,409,983 | 7.0% | 1.3x |
| Ares Corporate Opportunities Fund VI, L.P. | 2021 | $250,000,000 | $284,224,168 | $87,211,375 | $379,776,087 | 17.2% 1 | 1.3x 1 |
| Ares Corporate Opportunities Fund, L.P. | 2003 | $100,000,000 | $135,868,685 | $195,787,324 | $195,787,324 | 12.8% | 1.4x |
| Arlington Capital Partners VI, L.P. | 2023 | $300,000,000 | $161,054,446 | $10,190,333 | $188,732,634 | N/M 1 | N/M 1 |
| Arsenal Capital Partners Growth LP | 2022 | $50,000,000 | $16,177,820 | $32,924 | $9,887,372 | -27.5% 1 | 0.6x 1 |
| Arsenal Capital Partners VI LP | 2022 | $150,000,000 | $68,338,667 | $1,230,042 | $52,835,019 | -18.0% 1 | 0.8x 1 |
| ASF VIII B L.P. | 2020 | $300,000,000 | $210,268,033 | $62,535,641 | $301,624,277 | 16.5% 1 | 1.4x 1 |
| Asia Alternatives Capital Partners II LP | 2008 | $48,933,451 | $50,397,813 | $123,725,516 | $127,110,229 | 16.7% | 2.5x |
| Asia Alternatives Capital Partners, LP | 2007 | $50,000,000 | $53,499,274 | $94,358,989 | $97,485,660 | 11.1% | 1.8x |
| B Capital Ascent Fund III, L.P. | 2024 | $79,941,346 | $5,404,269 | $0 | $3,289,688 | N/M 1 | N/M 1 |
| B Capital Global Growth III, L.P. | 2023 | $67,500,000 | $38,427,334 | $2,251,204 | $42,563,508 | N/M 1 | N/M 1 |
| B Capital Opportunities Fund II, L.P. | 2024 | $240,000,000 | $17,415,995 | $0 | $29,394,908 | N/M 1 | N/M 1 |
| Bain Capital Asia Fund V, L.P. | 2023 | $300,000,000 | $55,740,237 | $4,401,627 | $85,518,319 | N/M 1 | N/M 1 |
| Bain Capital Europe Fund VI, SCSp | 2023 | $166,326,919 | $21,100,913 | $0 | $27,315,738 | N/M 1 | N/M 1 |
| Bain Capital Insurance Fund, L.P. | 2023 | $125,000,000 | $44,433,166 | $8,192,494 | $76,470,384 | N/M 1 | N/M 1 |
| Bain Capital Tech Opportunities Fund II, L.P. | 2023 | $150,000,000 | $69,152,091 | $0 | $76,559,738 | N/M 1 | N/M 1 |
| Bain Capital Venture Coinvestment Fund IV, L.P. | 2023 | $150,000,000 | $29,250,000 | $0 | $34,212,152 | N/M 1 | N/M 1 |
| Bain Capital Venture Fund 2022, L.P. | 2023 | $150,000,000 | $44,635,572 | $0 | $56,928,488 | N/M 1 | N/M 1 |
| Balderton Capital Growth II, S.L.P. | 2024 | $63,000,000 | $5,179,339 | $0 | $4,760,149 | N/M 1 | N/M 1 |
| Balderton Capital IX, S.L.P. | 2024 | $56,000,000 | $3,531,917 | $0 | $2,976,046 | N/M 1 | N/M 1 |
| Baring Vostok Private Equity Fund IV L.P. / Supplemental | 2007 | $77,775,000 | $91,865,849 | $99,394,006 | $100,043,126 | 1.6% | 1.1x |
| Base10 Partners III, L.P. | 2022 | $50,000,000 | $23,000,000 | $0 | $22,901,529 | -0.3% 1 | 1.0x 1 |
| Base10 Series B I, L.P. | 2023 | $50,000,000 | $16,500,000 | $0 | $15,317,644 | N/M 1 | N/M 1 |
| Bay State Partners, L.P. | 2022 | $98,280,098 | $91,142,091 | $0 | $111,127,521 | 10.6% 1 | 1.2x 1 |
| BC CLP INVESTORS, L.P. | 2023 | $1,500,000,000 | $773,419,297 | $5,290,955 | $905,315,785 | N/M 1 | N/M 1 |
| BDC III C LP | 2017 | $131,571,723 | $120,201,932 | $245,296,591 | $409,742,834 | 39.1% | 3.4x |
| BDC IV D LP | 2021 | $203,661,096 | $164,515,998 | $0 | $192,684,750 | 11.8% 1 | 1.2x 1 |
| BE VI 'H' L.P. | 2019 | $392,372,816 | $376,217,628 | $108,203,347 | $635,983,638 | 17.7% | 1.7x |
| Bear Coast (CV) Fund, LP | 2023 | $300,000,000 | $191,000,000 | $0 | $225,272,269 | N/M 1 | N/M 1 |
| Bear Coast (Ventures) Fund, LP | 2023 | $450,000,000 | $423,496,382 | $0 | $427,964,571 | N/M 1 | N/M 1 |
| Bear Technology Fund, L.P. | 2021 | $100,000,000 | $95,495,070 | $0 | $85,635,480 | -5.1% 1 | 0.9x 1 |
| Berkshire Fund X, L.P. | 2021 | $500,000,000 | $294,041,368 | $19,826,937 | $330,199,803 | 7.7% 1 | 1.1x 1 |
| Bessemer Venture Partners XII Institutional L.P. | 2024 | $115,000,000 | $14,921,378 | $0 | $13,439,668 | N/M 1 | N/M 1 |
| Biogeneration Capital Fund V Cooperatief U.A. | 2023 | $22,218,925 | $3,630,443 | $0 | $3,580,950 | N/M 1 | N/M 1 |
| Birch Hill Equity Partners (US) III, LP | 2005 | $126,293,117 | $142,339,925 | $269,654,907 | $270,738,977 | 12.1% | 1.9x |
| Birch Hill Equity Partners (US) IV, LP | 2011 | $136,806,729 | $132,114,065 | $290,921,619 | $345,432,233 | 15.5% | 2.6x |
| Blackstone Capital Partners V L.P. | 2006 | $38,400,000 | $794,822,847 | $1,222,737,110 | $1,222,737,110 | 7.8% | 1.5x |
| Blackstone Capital Partners VI L.P. | 2011 | $375,000,000 | $543,839,870 | $883,922,676 | $973,308,443 | 12.4% | 1.8x |
| Blackstone Capital Partners VII, L.P. | 2016 | $375,000,000 | $528,058,445 | $591,807,237 | $922,036,430 | 15.7% | 1.7x |
| Blackstone Capital Partners VIII, L.P. | 2021 | $262,500,000 | $409,610,384 | $254,472,055 | $502,787,061 | 15.0% 1 | 1.2x 1 |
| Blackstone Communications Partners I L.P. | 2000 | $100,000,000 | $111,242,017 | $136,083,476 | $136,120,412 | 6.5% | 1.2x |
| Blackstone Core Equity Partners II, L.P. | 2021 | $1,000,000,000 | $452,202,883 | $31,702,741 | $584,030,534 | 14.5% 1 | 1.3x 1 |
| Blackstone Tactical Opportunities Fund - C L.P. | 2012 | $800,000,000 | $993,472,066 | $1,275,298,767 | $1,330,190,637 | 9.1% | 1.3x |
| Blackstone Tactical Opportunities Fund II - C L.P. | 2015 | $500,000,000 | $489,553,181 | $654,748,715 | $739,461,781 | 12.9% | 1.5x |
| Blackstone Tactical Opportunities Fund III-C (Surge) L.P. | 2019 | $500,000,000 | $488,589,324 | $145,647,499 | $678,214,627 | 13.9% | 1.4x |
| Blackstone Tactical Opportunities Fund III-C L.P. | 2018 | $175,000,000 | $355,416,836 | $297,803,029 | $463,681,841 | 12.2% | 1.3x |
| Blackwell Capital Partners, LP | 2023 | $870,093,396 | $385,328,507 | $0 | $445,833,458 | N/M 1 | N/M 1 |
| BOND III, LP | 2022 | $75,000,000 | $21,825,000 | $0 | $19,697,423 | -11.5% 1 | 0.9x 1 |
| Bridgepoint Europe III 'C' L.P. | 2015 | $26,748,232 | $16,760,648 | $18,955,256 | $19,939,750 | 4.2% | 1.2x |
| Bridgepoint Europe III 'D' LP | 2005 | $194,381,921 | $191,932,333 | $228,563,948 | $234,423,677 | 2.4% | 1.2x |
| Bridgepoint Europe IV 'B' L.P. | 2015 | $85,537,133 | $67,960,669 | $78,633,376 | $94,924,684 | 12.2% | 1.4x |
| Bridgepoint Europe IV 'D' LP | 2008 | $388,890,737 | $391,605,384 | $545,055,720 | $606,890,767 | 9.4% | 1.5x |
| Bridgepoint Europe VII D LP | 2024 | $100,690,232 | $32,743,067 | $0 | $31,943,550 | N/M 1 | N/M 1 |
| BRV Lotus Fund III, L.P. | 2022 | $100,000,000 | $101,419,619 | $6,539,874 | $137,901,043 | 15.2% 1 | 1.4x 1 |
| Butterfly II, LP | 2022 | $125,000,000 | $69,088,467 | $26,876,401 | $83,010,843 | 10.7% 1 | 1.2x 1 |
| BVP Forge Institutional L.P. | 2023 | $35,000,000 | $17,810,745 | $0 | $19,694,333 | N/M 1 | N/M 1 |
| CA Co-Investment Limited Partnership | 2022 | $1,300,000,000 | $622,469,590 | $0 | $791,443,550 | 16.9% 1 | 1.3x 1 |
| CA1 SPV, L.P. | 2023 | $1,200,000,000 | $896,584,367 | $0 | $1,029,644,686 | N/M 1 | N/M 1 |
| California Asia Investors, L.P. | 2008 | $150,000,000 | $149,569,328 | $625,728,123 | $635,848,808 | 26.5% | 4.3x |
| California Community Venture Fund, LLC | 2003 | $100,000,000 | $100,067,655 | $88,478,382 | $91,475,717 | -1.5% | 0.9x |
| California Emerging Ventures IV, LLC | 2006 | $463,058,016 | $489,162,651 | $861,166,030 | $914,747,078 | 11.8% | 1.9x |
| California Partners, L.P. | 2020 | $850,000,000 | $489,495,730 | $24,362,617 | $631,307,045 | 13.2% 1 | 1.3x 1 |
| CalPERS Clean Energy & Technology Fund, LLC | 2007 | $465,000,000 | $468,423,814 | $132,249,749 | $138,269,267 | -18.9% | 0.3x |
| 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 | $26,705,187 | $46,538,295 | $55,306,051 | 21.9% | 2.1x |
| Canaan Gold Coast L.P. | 2023 | $235,000,000 | $44,500,000 | $0 | $44,197,491 | N/M 1 | N/M 1 |
| Canaan XIII Healthcare Fund L.P. | 2024 | $37,083,465 | $741,669 | $0 | $741,669 | N/M 1 | N/M 1 |
| Canaan XIII L.P. | 2024 | $205,000,000 | $2,000,000 | $0 | $2,000,000 | N/M 1 | N/M 1 |
| Capital Link Fund I, LLC | 2007 | $502,300,000 | $600,774,708 | $864,156,032 | $902,785,386 | 7.6% | 1.5x |
| Capital Link Fund II, LLC | 2008 | $435,600,000 | $472,588,586 | $783,932,885 | $796,415,103 | 11.9% | 1.7x |
| CapVest Equity Partners V SCSp | 2023 | $333,086,578 | $57,544,069 | $0 | $74,672,926 | N/M 1 | N/M 1 |
| 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 Partners III, L.P. | 2008 | $150,000,000 | $371,700,862 | $584,513,151 | $584,513,151 | 12.0% | 1.6x |
| Carlyle Asia Partners V, L.P. | 2018 | $125,000,000 | $208,766,737 | $168,168,489 | $288,170,553 | 18.9% | 1.4x |
| Carlyle Europe Partners II, L.P. | 2003 | $44,680,861 | $93,186,079 | $148,851,853 | $149,016,369 | 19.7% | 1.6x |
| Carlyle Europe Partners III, L.P. | 2007 | $251,788,675 | $460,698,733 | $742,254,678 | $743,892,102 | 11.1% | 1.6x |
| Carlyle Europe Partners V, S.C.Sp. | 2019 | $170,240,180 | $280,676,669 | $199,194,575 | $338,717,649 | 9.0% | 1.2x |
| Carlyle Partners V, L.P. | 2007 | $800,000,000 | $1,067,512,609 | $1,725,222,743 | $1,762,876,147 | 12.9% | 1.7x |
| Carlyle Partners VI, L.P. | 2013 | $300,850,000 | $597,034,529 | $1,106,094,840 | $1,180,528,420 | 15.9% | 2.0x |
| Carlyle Partners VII, L.P. | 2018 | $300,000,000 | $603,674,247 | $500,748,032 | $872,884,225 | 13.6% | 1.4x |
| Carlyle Partners VIII, L.P. | 2022 | $375,000,000 | $203,285,542 | $17,488,686 | $228,588,557 | 9.5% 1 | 1.1x 1 |
| Carlyle Strategic Partners IV, L.P. | 2016 | $150,000,000 | $182,378,996 | $81,815,149 | $207,279,006 | 5.0% | 1.1x |
| Carlyle U.S. Equity Opportunities II, L.P. | 2015 | $200,000,000 | $222,312,603 | $240,495,943 | $398,445,449 | 15.4% | 1.8x |
| CDH Fund V, L.P. | 2014 | $200,000,000 | $229,737,779 | $268,245,887 | $332,996,017 | 8.0% | 1.4x |
| Cedar Street Partners LP | 2021 | $1,000,000,000 | $265,563,640 | $11,210,894 | $515,796,121 | 41.0% 1 | 1.9x 1 |
| Centerbridge Capital Partners III, L.P. | 2015 | $150,000,000 | $201,784,363 | $214,650,099 | $339,678,796 | 15.4% | 1.7x |
| Cerberus CAL II Partners, L.P. | 2017 | $500,000,000 | $423,762,376 | $644,747,968 | $997,743,252 | 20.5% | 2.4x |
| Cerberus CAL III Partners, L.P. | 2019 | $500,000,000 | $474,258,458 | $15,408,997 | $390,338,713 | -6.1% | 0.8x |
| Cerberus CP Partners LP | 2013 | $600,000,000 | $674,624,184 | $1,084,518,111 | $1,510,696,494 | 16.8% | 2.2x |
| Cerberus Institutional Partners V, L.P. | 2012 | $400,000,000 | $479,288,769 | $767,521,291 | $907,905,186 | 13.6% | 1.9x |
| Cerberus Supply Chain Fund, L.P. | 2023 | $200,000,000 | $31,556,300 | $-1,008,030 | $34,318,782 | N/M 1 | N/M 1 |
| China Privatization Fund (Del), L.P. | 2006 | $100,000,000 | $69,317,995 | $133,415,962 | $133,415,962 | 13.7% | 1.9x |
| Clayton, Dubilier & Rice Fund X, L.P. | 2018 | $150,000,000 | $159,040,577 | $220,810,462 | $385,369,328 | 32.9% | 2.4x |
| Clayton, Dubilier & Rice Fund XI, L.P. | 2021 | $500,000,000 | $425,398,707 | $12,510,750 | $470,809,053 | 4.9% 1 | 1.1x 1 |
| Clayton, Dubilier & Rice Fund XII, L.P. | 2024 | $500,000,000 | $103,750,843 | $11,936,024 | $130,109,697 | N/M 1 | N/M 1 |
| Clearlake Capital Partners III, LP | 2012 | $50,000,000 | $70,596,517 | $201,138,284 | $203,842,239 | 40.7% | 2.9x |
| Clearlake Capital Partners IV, L.P. | 2015 | $56,700,000 | $88,509,876 | $144,619,854 | $184,885,357 | 28.5% | 2.1x |
| Clearlake Capital Partners V, L.P. | 2018 | $75,000,000 | $111,288,386 | $150,207,285 | $235,661,014 | 36.5% | 2.1x |
| Clearlake Capital Partners VII, L.P. | 2022 | $350,000,000 | $202,474,482 | $941,316 | $231,989,071 | 7.0% 1 | 1.1x 1 |
| Clearlake Opportunities Partners (P), L.P. | 2015 | $56,700,000 | $81,576,634 | $55,934,072 | $108,830,490 | 8.7% | 1.3x |
| Clearwater Capital Partners Fund III, L.P. | 2006 | $150,000,000 | $150,000,000 | $155,531,855 | $166,426,772 | 1.5% | 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 |
| Coalesce Capital Fund I, L.P. | 2024 | $150,000,000 | $10,213,051 | $0 | $6,646,501 | N/M 1 | N/M 1 |
| Coastal Pacific Partners, L.P. | 2023 | $104,999,880 | $65,259,743 | $0 | $68,869,119 | N/M 1 | N/M 1 |
| Cobalt Investment Fund, L.P. | 2024 | $100,000,000 | $260,965 | $0 | $260,965 | N/M 1 | N/M 1 |
| Coefficient Capital Apex Fund I, LP | 2023 | $83,726,563 | $21,429,416 | $0 | $17,118,800 | N/M 1 | N/M 1 |
| Coefficient Capital Fund II, LP | 2024 | $57,203,125 | $761,654 | $0 | $596,943 | N/M 1 | N/M 1 |
| Coller International Partners V-A, L.P. | 2006 | $375,000,000 | $322,288,690 | $443,093,433 | $443,093,433 | 7.5% | 1.4x |
| Crosspoint Capital Fund II, LP | 2023 | $300,000,000 | $186,942,734 | $416,541 | $207,886,337 | N/M 1 | N/M 1 |
| CV Consortio Fund L.P. | 2023 | $550,000,000 | $454,844,775 | $0 | $639,647,826 | N/M 1 | N/M 1 |
| CVC Capital Partners Asia V L.P. | 2020 | $200,000,000 | $174,560,339 | $4,250,977 | $236,687,158 | 14.5% 1 | 1.4x 1 |
| CVC Capital Partners Strategic Opportunities Compounding Capital L.P. | 2017 | $1,000,797,845 | $1,065,548,358 | $576,633,175 | $1,944,451,845 | 12.3% | 1.8x |
| CVC Capital Partners VI, L.P. | 2014 | $573,281,851 | $674,193,830 | $881,634,197 | $1,373,083,635 | 16.4% | 2.0x |
| CVC Capital Partners VII (A) L.P. | 2018 | $557,983,147 | $556,839,386 | $445,544,438 | $1,121,480,221 | 21.0% | 2.0x |
| CVC Capital Partners VIII (A) L.P. | 2021 | $810,806,867 | $659,702,670 | $7,464,989 | $763,113,266 | 8.4% 1 | 1.2x 1 |
| CVC European Equity Partners III LP | 2001 | $200,000,000 | $234,497,567 | $595,574,634 | $609,313,859 | 41.0% | 2.6x |
| CVC European Equity Partners IV (D) L.P. | 2005 | $329,817,610 | $406,865,452 | $726,781,649 | $727,193,283 | 17.2% | 1.8x |
| CVC European Equity Partners Tandem Fund (B) L.P. | 2007 | $471,624,084 | $570,492,765 | $735,169,447 | $735,169,447 | 6.8% | 1.3x |
| CVC European Equity Partners V (B) L.P. | 2008 | $568,908,518 | $710,667,384 | $1,290,077,106 | $1,304,491,985 | 16.4% | 1.8x |
| Dragoneer Opportunities Fund VI, L.P. | 2022 | $50,000,000 | $19,776,949 | $354,043 | $20,218,406 | 1.5% 1 | 1.0x 1 |
| DS Opportunities (C) LP | 2021 | $498,644,758 | $171,321,480 | $0 | $359,860,893 | 41.1% 1 | 2.1x 1 |
| EII-C SPV, LP | 2024 | $75,000,000 | $45,248,345 | $0 | $45,203,197 | N/M 1 | N/M 1 |
| EMAlternatives Investments, L.P. | 2007 | $100,000,000 | $117,107,124 | $126,348,674 | $139,421,188 | 3.4% | 1.2x |
| Ember Infrastructure Fund II-B, LP | 2024 | $100,000,000 | $36,617,131 | $0 | $34,858,389 | N/M 1 | N/M 1 |
| EQT IX (No.2) USD SCSp | 2021 | $750,000,000 | $810,900,070 | $97,439,308 | $980,094,696 | 7.9% 1 | 1.2x 1 |
| EQT X (No.2) USD SCSp | 2022 | $500,000,000 | $90,554,784 | $11,648,082 | $86,091,720 | -5.2% 1 | 1.0x 1 |
| Equip Opportunities Fund, L.P. | 2023 | $140,000,000 | $30,824,485 | $0 | $30,723,881 | N/M 1 | N/M 1 |
| First Reserve Fund XI, L.P. | 2006 | $500,000,000 | $570,151,741 | $390,767,883 | $390,767,883 | -9.5% | 0.7x |
| First Reserve Fund XIII, LP | 2014 | $400,000,000 | $479,848,712 | $274,786,356 | $439,094,120 | -2.4% | 0.9x |
| Forbion BioEconomy Fund I Co?peratief U.A. | 2024 | $29,182,276 | $4,505,583 | $0 | $4,301,673 | N/M 1 | N/M 1 |
| Forbion Growth Opportunities Fund II Cooperatief U.A. | 2023 | $17,080,872 | $8,292,012 | $9,472,827 | $16,369,505 | N/M 1 | N/M 1 |
| Forbion Ventures Fund VI Cooperatief U.A. | 2023 | $177,053,230 | $53,414,350 | $22,280,690 | $72,412,512 | N/M 1 | N/M 1 |
| ForCal I Investment Fund C.V. | 2023 | $275,505,973 | $119,225,402 | $0 | $157,408,954 | N/M 1 | N/M 1 |
| Forecastle, L.P. | 2020 | $750,000,000 | $586,287,420 | $6,766,384 | $866,609,325 | 19.1% 1 | 1.5x 1 |
| Fourth Street Partners - CPS L.P. | 2021 | $500,000,000 | $450,365,526 | $52,004,258 | $659,914,167 | 15.0% 1 | 1.5x 1 |
| Francisco Partners Agility II, L.P. | 2020 | $50,000,000 | $40,150,000 | $5,125,000 | $70,656,581 | 26.4% 1 | 1.8x 1 |
| Francisco Partners II, L.P. | 2006 | $175,000,000 | $174,005,517 | $286,882,216 | $287,327,209 | 10.4% | 1.7x |
| Francisco Partners III, L.P. | 2011 | $100,000,000 | $95,284,663 | $285,181,776 | $326,233,652 | 23.1% | 3.4x |
| Francisco Partners VI, L.P. | 2021 | $250,000,000 | $235,250,000 | $30,632,255 | $326,730,346 | 15.5% 1 | 1.4x 1 |
| Francisco Partners VII, L.P. | 2023 | $450,000,000 | $31,725,000 | $0 | $28,148,611 | N/M 1 | N/M 1 |
| FSP LR, L.P. | 2024 | $10,000,000 | $311,850 | $0 | $311,850 | N/M 1 | N/M 1 |
| GC Customer Value Fund II, L.P. | 2023 | $280,494,000 | $144,359,702 | $232,327 | $158,484,563 | N/M 1 | N/M 1 |
| GCM Grosvenor DEM II, L.P. | 2014 | $250,000,000 | $265,561,167 | $252,491,466 | $454,895,871 | 15.3% | 1.7x |
| GCM Grosvenor DEM III, L.P. | 2019 | $550,000,000 | $487,062,311 | $168,138,047 | $805,199,152 | 22.9% | 1.7x |
| GCM Grosvenor DEM, L.P. | 2012 | $100,000,000 | $116,034,595 | $127,092,910 | $161,979,944 | 9.1% | 1.4x |
| GCM Grosvenor Elevate Fund, L.P. | 2023 | $500,000,000 | $25,107,653 | $133,272 | $15,313,453 | N/M 1 | N/M 1 |
| General Atlantic Managed Account | 2020 | $1,050,000,000 | $806,983,477 | $46,865,453 | $964,218,096 | 7.4% 1 | 1.2x 1 |
| General Catalyst Group XI - Health Assurance, L.P. | 2023 | $200,000,000 | $149,527,703 | $0 | $166,168,695 | N/M 1 | N/M 1 |
| General Catalyst Group XII - Creation, L.P. | 2024 | $200,000,000 | $68,439,727 | $0 | $87,321,297 | N/M 1 | N/M 1 |
| General Catalyst Group XII - Endurance, L.P. | 2024 | $293,500,000 | $35,572,503 | $0 | $34,216,579 | N/M 1 | N/M 1 |
| General Catalyst Group XII - Health Assurance, L.P. | 2024 | $100,000,000 | $10,004,462 | $0 | $8,152,686 | N/M 1 | N/M 1 |
| General Catalyst Group XII - Ignition, L.P. | 2024 | $200,000,000 | $39,413,719 | $0 | $36,290,753 | N/M 1 | N/M 1 |
| Genstar Capital Partners X, L.P. | 2021 | $100,000,000 | $95,163,129 | $426,548 | $104,110,059 | 5.2% 1 | 1.1x 1 |
| Genstar Capital Partners XI, L.P. | 2023 | $200,000,000 | $5,629,511 | $737,081 | $7,889,180 | N/M 1 | N/M 1 |
| Genstar X Opportunities Fund I, L.P. | 2021 | $150,000,000 | $132,915,161 | $657,861 | $155,235,204 | 8.5% 1 | 1.2x 1 |
| Genstar XI Opportunities Fund I, L.P. | 2023 | $200,000,000 | $61,238,168 | $0 | $68,434,260 | N/M 1 | N/M 1 |
| GI Data Infrastructure Fund II LP | 2024 | $150,000,000 | $14,326,721 | $0 | $13,695,087 | N/M 1 | N/M 1 |
| GIM LTE Hazel L.P. | 2024 | $215,000,000 | $203,850,000 | $0 | $234,007,163 | N/M 1 | N/M 1 |
| Gold Hills Partners, L.P. | 2024 | $300,000,000 | $207,279,224 | $0 | $234,614,011 | N/M 1 | N/M 1 |
| Gorseway Park PE, L.P. | 2024 | $225,000,000 | $131,203,018 | $0 | $136,356,987 | N/M 1 | N/M 1 |
| Grain Communications Opportunity Fund IV-A, L.P. | 2023 | $200,000,000 | $73,812,508 | $84,849 | $67,799,852 | N/M 1 | N/M 1 |
| Grandval II, L.P. | 2019 | $1,050,000,000 | $766,579,846 | $28,074,699 | $1,214,808,468 | 16.4% | 1.6x |
| Grandval, L.P. | 2018 | $50,000,000 | $49,824,644 | $3,437,718 | $97,494,486 | 20.9% | 2.0x |
| GranTain Co-Invest L.P. | 2021 | $350,000,000 | $138,022,462 | $8,960,614 | $158,902,159 | 6.5% 1 | 1.2x 1 |
| GreatPoint Opportunity Fund I, L.P. | 2024 | $100,000,000 | $85,141,851 | $0 | $84,586,338 | N/M 1 | N/M 1 |
| Green Equity Investors CF II, L.P. | 2021 | $60,537,375 | $60,708,143 | $0 | $97,086,284 | 18.4% 1 | 1.6x 1 |
| Green Equity Investors CF, L.P. | 2021 | $186,639,450 | $183,055,172 | $111,018,855 | $243,590,030 | 14.0% 1 | 1.3x 1 |
| Green Equity Investors IX, L.P. | 2023 | $500,000,000 | $148,886,772 | $5,335,158 | $172,619,685 | N/M 1 | N/M 1 |
| Green Equity Investors V, L.P. | 2007 | $400,000,000 | $445,789,540 | $1,023,767,776 | $1,025,255,416 | 18.4% | 2.3x |
| Green Equity Investors VIII, L.P. | 2020 | $600,000,000 | $567,510,176 | $46,342,615 | $782,979,186 | 11.7% 1 | 1.4x 1 |
| Greenbriar Equity Fund VI, L.P. | 2023 | $95,000,000 | $33,719,030 | $6,521 | $35,197,030 | N/M 1 | N/M 1 |
| Greenleaf Co-Invest Partners, L.P. | 2021 | $975,000,000 | $469,390,371 | $8,725,142 | $728,374,857 | 16.9% 1 | 1.6x 1 |
| GSC I, L.P. | 2024 | $400,000,000 | $311,182,437 | $0 | $318,376,050 | N/M 1 | N/M 1 |
| GSO Energy Partners-C II LP | 2016 | $250,000,000 | $231,394,778 | $284,357,220 | $299,448,450 | 8.1% | 1.3x |
| GSO Energy Partners-C LP | 2013 | $400,000,000 | $476,961,581 | $392,482,044 | $416,433,532 | -3.3% | 0.9x |
| H.I.G. Europe Middle Market LBO Fund, L.P. | 2021 | $108,771,892 | $69,115,036 | $580,271 | $93,174,753 | 28.1% 1 | 1.3x 1 |
| Healthcare and Fintech, L.P. | 2022 | $200,000,000 | $73,986,293 | $0 | $123,230,893 | 35.4% 1 | 1.7x 1 |
| Hedosophia Partners VI L.P. | 2024 | $60,000,000 | $17,999,997 | $0 | $17,063,500 | N/M 1 | N/M 1 |
| Hellman & Friedman Capital Partners IX, L.P. | 2020 | $650,000,000 | $690,371,469 | $103,802,662 | $1,064,894,487 | 13.4% 1 | 1.5x 1 |
| Hellman & Friedman Capital Partners VII | 2011 | $300,000,000 | $286,896,670 | $945,792,700 | $972,631,606 | 24.6% | 3.4x |
| Hellman & Friedman Capital Partners VIII, L.P. | 2016 | $500,000,000 | $517,852,361 | $335,736,101 | $905,899,467 | 11.7% | 1.7x |
| Hellman & Friedman Capital Partners X, L.P. | 2021 | $1,000,000,000 | $771,861,266 | $71,952,169 | $938,739,991 | 8.9% 1 | 1.2x 1 |
| Hg Genesis 10 A L.P. | 2023 | $138,578,314 | $26,973,935 | $0 | $33,614,889 | N/M 1 | N/M 1 |
| Hg Mercury 4 A L.P. | 2023 | $55,553,893 | $7,176,464 | $0 | $6,623,001 | N/M 1 | N/M 1 |
| Hg Saturn 3 A L.P. | 2023 | $150,000,000 | $81,198,970 | $0 | $92,525,277 | N/M 1 | N/M 1 |
| HongShan Capital Expansion Fund I, L.P. | 2024 | $134,000,000 | $13,400,000 | $0 | $12,763,027 | N/M 1 | N/M 1 |
| HongShan Capital Growth Fund VII, L.P. | 2023 | $104,000,000 | $17,160,000 | $0 | $13,676,510 | N/M 1 | N/M 1 |
| HongShan Capital Seed Fund III, L.P. | 2022 | $12,000,000 | $4,201,617 | $0 | $3,570,423 | -14.4% 1 | 0.8x 1 |
| HongShan Capital Venture Fund IX, L.P. | 2022 | $32,000,000 | $7,383,674 | $0 | $6,171,029 | -15.6% 1 | 0.8x 1 |
| Hornet Co-Invest, L.P. | 2024 | $300,000,000 | $135,130,602 | $0 | $203,590,958 | N/M 1 | N/M 1 |
| Innovation Opportunities, L.P. | 2023 | $1,555,883,768 | $607,961,496 | $0 | $626,379,789 | N/M 1 | N/M 1 |
| Insight Partners XI, L.P. | 2020 | $400,000,000 | $389,200,000 | $2,528,119 | $610,568,102 | 12.9% 1 | 1.6x 1 |
| Insight Partners XII Buyout Annex Fund, L.P. | 2021 | $150,000,000 | $135,480,208 | $0 | $176,736,492 | 13.0% 1 | 1.3x 1 |
| Insight Partners XII, L.P. | 2021 | $600,000,000 | $521,729,570 | $663,047 | $512,607,423 | -0.8% 1 | 1.0x 1 |
| Insight Partners XIII Growth Buyout Fund, L.P. | 2024 | $100,000,000 | $6,850,000 | $0 | $7,389,190 | N/M 1 | N/M 1 |
| Insight Partners XIII, L.P. | 2024 | $300,000,000 | $7,500,000 | $0 | $8,276,776 | N/M 1 | N/M 1 |
| Insight Venture Partners Growth-Buyout Coinvestment Fund (B), L.P. | 2015 | $400,000,000 | $433,400,000 | $717,497,901 | $1,542,113,720 | 27.1% | 3.6x |
| Insight Venture Partners IX, L.P. | 2015 | $100,000,000 | $105,668,637 | $172,518,890 | $409,588,769 | 23.9% | 3.9x |
| Insight Venture Partners X, L.P. | 2018 | $250,000,000 | $261,808,718 | $213,608,752 | $718,327,798 | 24.1% | 2.7x |
| Jade Equity Investors II, L.P. | 2024 | $150,000,000 | $1,426,322 | $0 | $1,189,347 | N/M 1 | N/M 1 |
| Jade Equity Investors, L.P. | 2020 | $155,000,000 | $160,469,431 | $28,519,571 | $231,843,041 | 20.6% 1 | 1.4x 1 |
| JSC Capital Partners, L.P. | 2024 | $326,452,206 | $328,052,206 | $0 | $327,078,354 | N/M 1 | N/M 1 |
| K5 Private Investors, L.P. | 2021 | $150,000,000 | $107,384,157 | $4,423,378 | $141,037,465 | 14.4% 1 | 1.3x 1 |
| Khosla Ventures III, L.P. | 2009 | $200,000,000 | $200,000,000 | $362,846,119 | $373,069,739 | 9.8% | 1.9x |
| Khosla Ventures Seed, L.P. | 2009 | $60,000,000 | $60,000,000 | $12,484,329 | $91,536,859 | 3.7% | 1.5x |
| KKR 2006 Fund L.P. | 2006 | $400,000,000 | $595,407,506 | $940,703,667 | $940,703,667 | 8.2% | 1.6x |
| KKR Asian Fund II L.P. | 2013 | $350,000,000 | $651,416,086 | $607,956,958 | $756,448,812 | 3.9% | 1.2x |
| KKR Asian Fund IV SCSp | 2021 | $300,000,000 | $163,984,986 | $24,267,302 | $222,092,444 | 15.5% 1 | 1.4x 1 |
| KKR Asian Fund L.P. | 2007 | $272,575,591 | $355,648,095 | $601,148,863 | $601,221,834 | 13.6% | 1.7x |
| KKR European Fund II, L.P. | 2005 | $202,220,875 | $236,198,253 | $295,151,012 | $295,151,012 | 3.9% | 1.2x |
| KKR European Fund III, L.P. | 2008 | $314,888,276 | $420,900,950 | $590,797,902 | $594,090,008 | 9.5% | 1.4x |
| KKR European Fund V (USD) SCSp | 2020 | $300,000,000 | $285,636,243 | $65,729,934 | $393,750,480 | 11.4% 1 | 1.4x 1 |
| KKR North America Fund XIII SCSp | 2022 | $600,000,000 | $422,156,967 | $6,315,290 | $488,090,018 | 11.1% 1 | 1.2x 1 |
| KM Corporate Partners Fund II, LP | 2007 | $200,000,000 | $195,212,804 | $238,176,799 | $275,329,613 | 5.9% | 1.4x |
| KOALA PACIFIC PARTNERSHIP, L.P. | 2024 | $200,000,000 | $31,584,208 | $0 | $37,192,521 | N/M 1 | N/M 1 |
| Lightspeed Opportunity Fund II, LP | 2022 | $200,000,000 | $164,000,000 | $0 | $182,814,057 | 10.2% 1 | 1.1x 1 |
| Lightspeed Venture Partners Select V, L.P. | 2022 | $100,000,000 | $68,000,000 | $0 | $66,184,185 | -1.9% 1 | 1.0x 1 |
| Lightspeed Venture Partners XIV-A (Inception), L.P. | 2022 | $45,000,000 | $33,300,000 | $0 | $38,272,160 | 9.7% 1 | 1.1x 1 |
| Lightspeed Venture Partners XIV-B (Ignite), L.P. | 2022 | $55,000,000 | $33,550,000 | $0 | $50,236,658 | 30.0% 1 | 1.5x 1 |
| Lime Rock Partners IV, LP | 2006 | $43,000,000 | $47,917,078 | $139,501,029 | $139,597,490 | 14.6% | 2.9x |
| Lincoln Plaza Fund, L.P. | 2024 | $2,000,000,000 | $635,820,742 | $556,357 | $625,086,338 | N/M 1 | N/M 1 |
| Lindsay Goldberg IV, L.P. | 2015 | $250,000,000 | $217,396,458 | $351,505,143 | $457,320,421 | 30.2% | 2.1x |
| Lindsay Goldberg V L.P. | 2020 | $250,000,000 | $182,390,596 | $34,359,941 | $274,856,340 | 21.4% 1 | 1.5x 1 |
| LongRange Capital Fund I, L.P. | 2020 | $1,500,000,000 | $750,950,192 | $33,074,848 | $927,991,905 | 11.4% 1 | 1.2x 1 |
| LS Investments C, L.P. | 2024 | $250,000,000 | $64,375,000 | $0 | $64,021,172 | N/M 1 | N/M 1 |
| Lux Ventures VIII, L.P. | 2023 | $300,000,000 | $73,500,000 | $0 | $100,123,922 | N/M 1 | N/M 1 |
| Madison Dearborn Capital Partners V, L.P. | 2006 | $300,000,000 | $351,612,894 | $544,219,885 | $544,933,482 | 7.5% | 1.5x |
| Madison Dearborn Capital Partners VIII, LP | 2020 | $400,000,000 | $393,744,342 | $128,083,534 | $488,526,660 | 11.8% 1 | 1.2x 1 |
| Magnolia Opportunities LLC | 2023 | $100,000,000 | $19,387,000 | $16,120,000 | $19,257,827 | N/M 1 | N/M 1 |
| Mayfield XVII, a Delaware Limited Partnership | 2024 | $21,000,000 | $630,000 | $0 | $983,358 | N/M 1 | N/M 1 |
| Middlefield Road Private Opportunities Fund, L.P. | 2021 | $800,000,000 | $231,378,144 | $0 | $249,033,604 | 5.0% 1 | 1.1x 1 |
| Moreton Bay SPV, LP | 2023 | $1,350,000,000 | $1,154,384,038 | $0 | $1,350,031,639 | N/M 1 | N/M 1 |
| Muir Woods Partners, L.P. | 2023 | $250,000,000 | $124,209,797 | $0 | $170,752,389 | N/M 1 | N/M 1 |
| New Mountain CAS Continuation Fund, L.P. | 2021 | $90,723,142 | $91,001,432 | $24,840,552 | $99,574,236 | 4.6% 1 | 1.1x 1 |
| New Mountain Partners III, L.P. | 2007 | $400,000,000 | $470,815,270 | $1,054,284,551 | $1,069,935,788 | 14.6% | 2.3x |
| New Mountain Partners VI, L.P. | 2021 | $600,000,000 | $577,402,499 | $7,254,593 | $805,948,223 | 18.9% 1 | 1.4x 1 |
| New Mountain Partners VII, L.P. | 2024 | $250,000,000 | $3,632,101 | $0 | $252,543 | N/M 1 | N/M 1 |
| NM Pacific, L.P. | 2021 | $320,000,000 | $274,106,631 | $3,238,927 | $321,947,433 | 8.0% 1 | 1.2x 1 |
| Nordic Bear SCSp | 2021 | $1,500,000,000 | $1,459,312,586 | $39,734,825 | $1,703,309,120 | 9.8% 1 | 1.2x 1 |
| Oak HC/FT Partners V, L.P. | 2022 | $200,000,000 | $44,044,794 | $248 | $44,308,553 | 0.5% 1 | 1.0x 1 |
| Oak Hill Capital Partners II, L.P. | 2004 | $75,000,000 | $86,882,356 | $137,312,167 | $137,312,167 | 9.7% | 1.6x |
| Oaktree Latigo Investment Fund, L.P. | 2020 | $1,000,000,000 | $480,000,000 | $255,300,000 | $631,625,428 | 9.8% 1 | 1.3x 1 |
| Oaktree Opportunities Fund VIIIb, L.P. | 2011 | $200,000,000 | $200,000,000 | $313,974,146 | $338,666,289 | 8.3% | 1.7x |
| OHA Black Bear Fund, L.P. | 2020 | $1,000,000,000 | $260,000,000 | $167,821,782 | $382,817,209 | 11.8% 1 | 1.5x 1 |
| Onex Partners IV, L.P. | 2014 | $300,000,000 | $322,098,328 | $311,318,258 | $458,413,200 | 7.4% | 1.4x |
| Onex Partners V-B LP | 2018 | $500,000,000 | $481,513,899 | $75,126,343 | $682,192,467 | 10.8% | 1.4x |
| Orchard Park, L.P. | 2023 | $453,000,000 | $400,773,189 | $0 | $467,583,661 | N/M 1 | N/M 1 |
| PAG Asia I LP | 2012 | $100,000,000 | $122,012,626 | $206,608,334 | $224,693,898 | 17.5% | 1.8x |
| PAG Asia III LP | 2019 | $380,000,000 | $353,516,379 | $68,704,417 | $459,046,342 | 9.0% | 1.3x |
| Palladium Equity Partners III, L.P. | 2004 | $193,750,000 | $253,879,630 | $443,645,229 | $443,645,229 | 15.5% | 1.7x |
| Palladium Equity Partners V, L.P. | 2018 | $75,000,000 | $74,235,444 | $48,950,393 | $113,540,944 | 13.0% | 1.5x |
| Pantheon Global Secondary Fund VII Feeder (US) LP | 2023 | $200,000,000 | $81,078,077 | $0 | $100,517,538 | N/M 1 | N/M 1 |
| Patient Square Equity Partners, LP | 2023 | $300,000,000 | $203,600,381 | $1,827,337 | $227,543,655 | N/M 1 | N/M 1 |
| Patria Brazilian Private Equity Fund V, L.P. | 2015 | $150,000,000 | $145,799,357 | $38,412,886 | $233,392,618 | 9.9% | 1.6x |
| Permira Europe III | 2004 | $126,989,866 | $126,989,866 | $219,524,851 | $219,593,744 | 26.6% | 1.7x |
| Permira Growth Opportunities I L.P. 1 | 2019 | $200,000,000 | $199,766,438 | $52,662,033 | $251,685,935 | 8.0% | 1.3x |
| Permira Growth Opportunities II SCSP | 2022 | $155,000,000 | $61,845,000 | $4,282,943 | $54,893,531 | -5.9% 1 | 0.9x 1 |
| Permira IV L.P.2 | 2006 | $285,030,700 | $354,598,629 | $498,612,287 | $563,180,565 | 8.3% | 1.6x |
| Permira V, L.P. | 2014 | $268,879,433 | $273,097,691 | $602,021,852 | $756,112,483 | 20.8% | 2.8x |
| Permira VI L.P. 1 | 2017 | $498,345,557 | $485,506,188 | $345,121,995 | $998,842,856 | 16.8% | 2.1x |
| Permira VII L.P.1 | 2020 | $622,679,909 | $606,544,492 | $52,707,491 | $757,855,215 | 7.5% 1 | 1.2x 1 |
| Permira VIII-2 SCSp | 2023 | $715,019,179 | $340,326,472 | $0 | $375,529,862 | N/M 1 | N/M 1 |
| Phoenix Bear Partners, L.P. | 2023 | $1,750,000,000 | $1,306,289,780 | $13,550,154 | $1,567,289,114 | N/M 1 | N/M 1 |
| Pioneer Pier Investments, L.P. | 2024 | $150,000,000 | $13,280,731 | $0 | $13,083,686 | N/M 1 | N/M 1 |
| Project Quail Opportunities, L.P. | 2022 | $600,000,000 | $371,994,399 | $0 | $483,013,142 | 20.6% 1 | 1.3x 1 |
| Prysm Capital Fund I, L.P. | 2023 | $100,000,000 | $102,748,844 | $0 | $95,696,964 | N/M 1 | N/M 1 |
| Prysm Capital Fund II-C, L.P. | 2024 | $200,000,000 | $71,482,985 | $0 | $98,204,704 | N/M 1 | N/M 1 |
| PSG Encore L.P. | 2022 | $100,000,000 | $60,586,100 | $2,211,496 | $64,416,844 | 4.2% 1 | 1.1x 1 |
| PSG Europe II L.P. | 2023 | $111,005,178 | $17,498,707 | $674,655 | $21,886,322 | N/M 1 | N/M 1 |
| PSG V L.P. | 2021 | $100,000,000 | $94,483,533 | $9,852,821 | $110,026,042 | 11.1% 1 | 1.2x 1 |
| Q-Street Capital, L.P. | 2021 | $400,000,000 | $309,937,654 | $0 | $365,096,153 | 9.3% 1 | 1.2x 1 |
| RC CC Fund LP | 2024 | $750,000,000 | $541,639,800 | $0 | $669,922,125 | N/M 1 | N/M 1 |
| Red Admiral Fund LP | 2023 | $1,200,000,000 | $292,018,041 | $85,702,614 | $495,197,651 | N/M 1 | N/M 1 |
| Redwood Lane Capital, L.P. | 2022 | $700,000,000 | $640,298,915 | $0 | $853,891,004 | 30.9% 1 | 1.3x 1 |
| Redwood Opportunities SCSp | 2020 | $950,000,000 | $716,998,755 | $0 | $910,286,883 | 12.6% 1 | 1.3x 1 |
| Riverstone Global Energy and Power Fund V, L.P. | 2012 | $400,000,000 | $530,711,864 | $423,671,620 | $435,679,342 | -4.4% | 0.8x |
| Riverstone Global Energy and Power Fund VI, L.P. | 2016 | $500,000,000 | $642,757,591 | $488,437,271 | $688,302,182 | 1.9% | 1.1x |
| Rubicon Partners SCSp | 2023 | $496,198,737 | $216,812,015 | $0 | $267,426,456 | N/M 1 | N/M 1 |
| Sacramento Private Equity Partners, L.P. | 2006 | $537,857,143 | $527,013,573 | $959,369,351 | $1,032,750,885 | 11.5% | 2.0x |
| SAIF Partners III L.P. | 2007 | $100,000,000 | $126,111,682 | $155,442,636 | $211,521,859 | 5.8% | 1.7x |
| SAIF Partners IV L.P. | 2010 | $120,000,000 | $152,768,026 | $121,774,518 | $209,755,934 | 4.1% | 1.4x |
| Samson Partners, L.P. | 2020 | $238,801,883 | $172,155,918 | $22,795,314 | $277,444,444 | 13.9% 1 | 1.6x 1 |
| Set Builders II, LP | 2024 | $70,000,000 | $10,921,986 | $0 | $10,720,961 | N/M 1 | N/M 1 |
| Sierra Partners, L.P. | 2020 | $150,000,000 | $81,986,760 | $21,284,053 | $95,075,325 | 9.8% 1 | 1.2x 1 |
| SignalFire Sage Fund, L.P. | 2023 | $100,000,000 | $66,136,243 | $0 | $68,872,496 | N/M 1 | N/M 1 |
| SignalFire XIR Venture Fund II, L.P. | 2024 | $48,531,538 | $4,853,154 | $0 | $4,606,608 | N/M 1 | N/M 1 |
| Silver Lake Partners III, L.P. | 2007 | $480,000,000 | $612,624,572 | $1,158,353,643 | $1,183,655,058 | 18.4% | 1.9x |
| Silver Lake Partners IV, L.P. | 2013 | $320,000,000 | $378,220,767 | $547,946,575 | $1,024,025,113 | 21.6% | 2.7x |
| Silver Lake Partners V, L.P. | 2018 | $400,000,000 | $407,027,175 | $244,872,787 | $664,768,667 | 13.2% | 1.6x |
| Silver Lake Partners VI, L.P. | 2021 | $800,000,000 | $845,404,293 | $88,479,349 | $1,032,999,251 | 9.4% 1 | 1.2x 1 |
| Silver Lake Partners VII, L.P. | 2024 | $370,000,000 | $75,316,875 | $31,979 | $84,208,500 | N/M 1 | N/M 1 |
| Silver Lake Technology Investors IV, LP | 2013 | $80,000,000 | $86,505,757 | $157,343,917 | $296,259,312 | 28.2% | 3.4x |
| Silver Lake Technology Investors V, L.P. | 2018 | $100,000,000 | $94,304,037 | $67,018,004 | $181,998,931 | 16.5% | 1.9x |
| Siris Partners IV, L.P. | 2019 | $100,000,000 | $111,101,520 | $31,141,080 | $148,608,296 | 9.8% | 1.3x |
| SL SPV-1, L.P. | 2017 | $38,675,166 | $83,704,893 | $8,979,676 | $107,840,417 | 3.8% | 1.3x |
| SL SPV-2, L.P. | 2019 | $28,417,191 | $50,398,887 | $118,521,829 | $193,047,666 | 31.1% | 3.8x |
| SPRINGBLUE A, L.P. | 2021 | $50,000,000 | $33,625,000 | $0 | $27,131,163 | -9.6% 1 | 0.8x 1 |
| Springblue A-V, L.P. | 2024 | $60,000,000 | $7,650,000 | $0 | $9,578,791 | N/M 1 | N/M 1 |
| SPRINGBLUE B, L.P. | 2021 | $50,000,000 | $45,250,000 | $0 | $44,822,861 | -0.4% 1 | 1.0x 1 |
| Springblue B-III, L.P. | 2023 | $40,000,000 | $5,600,000 | $0 | $8,657,318 | N/M 1 | N/M 1 |
| SR One Capital Fund II-A, LP | 2023 | $90,000,000 | $52,656,338 | $2,199,898 | $49,109,110 | N/M 1 | N/M 1 |
| SR One Capital Opportunities Fund I, LP | 2023 | $72,351,563 | $37,859,403 | $158,142 | $30,692,994 | N/M 1 | N/M 1 |
| Summit Partners Growth Equity Fund X-A, L.P. | 2020 | $250,000,000 | $242,132,332 | $59,956,773 | $350,029,756 | 14.6% 1 | 1.4x 1 |
| Summit Partners Growth Equity Fund XI-A, L.P. | 2022 | $400,000,000 | $133,629,936 | $1,629,711 | $148,025,489 | 8.0% 1 | 1.1x 1 |
| Sunrise Boulevard PE Partners L.P. | 2021 | $500,000,000 | $363,032,439 | $757,910 | $501,476,217 | 17.6% 1 | 1.4x 1 |
| TA Select Opportunities Fund II-A, L.P. | 2021 | $50,000,000 | $41,375,000 | $0 | $41,990,541 | 1.0% 1 | 1.0x 1 |
| TA XIV-A, L.P. | 2021 | $150,000,000 | $143,250,000 | $4,500,000 | $144,672,765 | 0.6% 1 | 1.0x 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 | $155,955,866 | $185,577,411 | $253,709,045 | 11.0% | 1.6x |
| Tailwind Capital Partners III, L.P. | 2018 | $200,000,000 | $210,042,964 | $120,070,981 | $324,072,275 | 17.0% | 1.5x |
| TCC Opportunities, L.P. | 2021 | $900,000,000 | $408,688,874 | $45,981,876 | $560,336,824 | 20.2% 1 | 1.4x 1 |
| TCP II Co-Invest B, L.P. | 2015 | $50,000,000 | $57,176,158 | $50,942,105 | $114,501,324 | 13.2% | 2.0x |
| TCV X, L.P. | 2019 | $175,000,000 | $131,343,267 | $50,318,772 | $320,880,897 | 23.0% | 2.4x |
| TCV XI, L.P. | 2021 | $300,000,000 | $237,790,710 | $0 | $240,760,913 | 0.6% 1 | 1.0x 1 |
| The Rise Fund (A), L.P. | 2018 | $75,000,000 | $81,454,091 | $47,978,009 | $121,920,602 | 11.3% | 1.5x |
| The Rise Fund III, L.P. | 2023 | $100,000,000 | $47,505,040 | $0 | $54,382,472 | N/M 1 | N/M 1 |
| The Veritas Capital Fund VIII, L.P. | 2022 | $625,000,000 | $437,105,385 | $128,363 | $508,899,721 | 12.0% 1 | 1.2x 1 |
| Thoma Bravo Fund XIV, L.P. | 2021 | $600,000,000 | $643,241,639 | $131,666,049 | $790,099,493 | 7.7% 1 | 1.2x 1 |
| Thoma Bravo Fund XV, L.P. | 2022 | $600,000,000 | $427,818,403 | $130,010 | $556,077,873 | 15.0% 1 | 1.3x 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 |
| Three Pillars Flex Opportunities Fund, LP | 2023 | $500,000,000 | $53,000,000 | $0 | $79,496,186 | N/M 1 | N/M 1 |
| Three Pillars Secondaries Fund, LP | 2024 | $750,000,000 | $0 | $0 | $39,427,678 | N/M 1 | N/M 1 |
| Thrive Capital Partners VIII Growth, L.P. | 2023 | $300,000,000 | $216,581,762 | $0 | $307,834,143 | N/M 1 | N/M 1 |
| Tiger Global Private Investment Partners XV, L.P. | 2022 | $300,000,000 | $285,000,000 | $0 | $202,364,646 | -13.6% 1 | 0.7x 1 |
| Timber Coast Private Opportunities, L.P. | 2023 | $300,000,000 | $70,149,725 | $0 | $71,558,591 | N/M 1 | N/M 1 |
| Top Castle Sidecar VII, L.P. | 2020 | $500,000,000 | $144,751,179 | $43,521,072 | $236,983,647 | 30.5% 1 | 1.6x 1 |
| TowerBrook Investors II, L.P. | 2005 | $200,000,000 | $195,738,362 | $326,688,901 | $327,971,315 | 10.1% | 1.7x |
| TowerBrook Investors IV (Onshore), L.P. | 2013 | $380,000,000 | $315,989,860 | $439,433,151 | $654,288,798 | 17.9% | 2.1x |
| Towerbrook Investors V (Onshore) LP | 2019 | $400,000,000 | $409,730,048 | $81,190,961 | $587,406,394 | 14.5% | 1.4x |
| Towerbrook Investors VI (Onshore), L.P. | 2024 | $100,000,000 | $12,363,918 | $0 | $12,098,738 | N/M 1 | N/M 1 |
| Towerbrook Structured Opportunities Fund (Onshore), L.P. | 2016 | $221,786,667 | $288,942,277 | $214,612,367 | $382,583,756 | 8.6% | 1.3x |
| Towerbrook Structured Opportunities Fund II (Onshore) LP | 2019 | $250,000,000 | $241,821,235 | $82,056,053 | $323,479,965 | 15.1% | 1.3x |
| TPG Asia V, L.P. | 2007 | $360,000,000 | $350,599,460 | $488,924,451 | $502,266,842 | 6.3% | 1.4x |
| TPG Asia VIII (A), L.P. | 2024 | $250,000,000 | $75,369,567 | $0 | $82,994,803 | N/M 1 | N/M 1 |
| TPG Biotechnology Partners II, L.P. | 2006 | $70,000,000 | $71,952,784 | $86,914,132 | $86,914,132 | 2.9% | 1.2x |
| TPG Biotechnology Partners III, L.P. | 2008 | $100,000,000 | $100,076,482 | $187,770,846 | $212,760,837 | 10.8% | 2.1x |
| TPG Golden Bear Partners, L.P. | 2019 | $500,000,000 | $489,403,401 | $93,728,683 | $806,305,843 | 16.8% | 1.6x |
| TPG Growth IV, L.P. | 2018 | $75,000,000 | $83,442,284 | $54,261,454 | $134,805,221 | 14.7% | 1.6x |
| TPG Growth V, L.P. | 2021 | $200,000,000 | $198,706,908 | $29,430,310 | $273,805,321 | 15.6% 1 | 1.4x 1 |
| TPG Growth VI, L.P. | 2024 | $200,000,000 | $17,455,435 | $0 | $20,568,631 | N/M 1 | N/M 1 |
| TPG Healthcare Partners, L.P. | 2019 | $100,000,000 | $97,957,938 | $27,656,172 | $134,020,359 | 15.2% | 1.4x |
| TPG Life Sciences Innovations, L.P. | 2024 | $75,000,000 | $13,337,222 | $0 | $11,480,534 | N/M 1 | N/M 1 |
| TPG Partners IV, L.P. | 2003 | $200,000,000 | $225,811,661 | $428,892,245 | $429,109,541 | 15.3% | 1.9x |
| TPG PARTNERS IX, L.P. | 2023 | $300,000,000 | $120,168,437 | $123,716 | $129,738,380 | N/M 1 | N/M 1 |
| TPG Partners V, L.P. | 2006 | $600,000,000 | $811,329,685 | $1,006,586,349 | $1,007,200,109 | 3.7% | 1.2x |
| TPG Partners VIII, L.P. | 2019 | $150,000,000 | $387,588,833 | $336,507,258 | $519,788,404 | 21.3% | 1.3x |
| TPG STAR, L.P. | 2007 | $150,000,000 | $171,879,025 | $210,777,222 | $220,004,094 | 6.2% | 1.3x |
| TPG Tech Adjacencies II, L.P. | 2023 | $200,000,000 | $101,345,526 | $4,959,570 | $117,064,340 | N/M 1 | N/M 1 |
| Triangle Investment Opportunities II, L.P. | 2024 | $300,000,000 | $10,347,625 | $0 | $10,347,326 | N/M 1 | N/M 1 |
| Triangle Investment Opportunities, L.P. | 2023 | $1,000,000,000 | $970,083,205 | $0 | $1,413,566,733 | N/M 1 | N/M 1 |
| Trident IX, L.P. | 2022 | $500,000,000 | $330,998,320 | $4,807,497 | $416,425,699 | 19.8% 1 | 1.3x 1 |
| Trident VI | 2014 | $250,000,000 | $269,623,677 | $641,117,338 | $745,414,244 | 22.3% | 2.8x |
| Trident VII, L.P. | 2017 | $270,000,000 | $323,357,360 | $268,470,011 | $687,420,903 | 19.0% | 2.1x |
| Trident VIII, L.P. | 2020 | $400,000,000 | $388,667,200 | $71,445,553 | $592,575,478 | 13.9% 1 | 1.5x 1 |
| Triton Fund IV L.P. | 2013 | $91,725,814 | $107,842,613 | $102,756,467 | $169,917,161 | 11.0% | 1.6x |
| Triton Fund V, LP | 2019 | $282,443,517 | $249,174,123 | $97,851,559 | $396,734,467 | 17.6% | 1.6x |
| Valor Equity Partners IV L.P. | 2017 | $75,000,000 | $74,484,349 | $7,886,840 | $197,298,212 | 19.1% | 2.6x |
| Valor Equity Partners VI L.P. | 2023 | $300,000,000 | $190,880,499 | $0 | $219,031,022 | N/M 1 | N/M 1 |
| Verdane Edda III (D1) AB | 2024 | $111,302,449 | $17,130,636 | $0 | $18,992,951 | N/M 1 | N/M 1 |
| Vicente Capital Partners Growth Equity Fund, L.P. | 2007 | $40,422,297 | $40,801,085 | $56,560,761 | $56,957,122 | 5.7% | 1.4x |
| VIP IV LP | 2020 | $303,603,022 | $276,635,420 | $2,798,316 | $338,497,856 | 9.7% 1 | 1.2x 1 |
| VIP V S.C.Sp. | 2023 | $334,642,301 | $25,730,272 | $1,496,305 | $13,736,612 | N/M 1 | N/M 1 |
| Vista Equity Partners Fund VII-Z, L.P. | 2019 | $400,000,000 | $388,046,566 | $42,412,855 | $466,972,718 | 5.4% | 1.2x |
| WCAS XIII, L.P. | 2019 | $400,000,000 | $383,241,237 | $176,307,843 | $617,170,133 | 16.7% | 1.6x |
| WCAS XIV, L.P. | 2022 | $400,000,000 | $141,096,267 | $0 | $126,516,395 | -9.5% 1 | 0.9x 1 |
| Welsh, Carson, Anderson & Stowe XI, L.P. | 2009 | $125,000,000 | $125,000,000 | $207,292,933 | $207,891,000 | 11.5% | 1.7x |
| Welsh, Carson, Anderson & Stowe XII, L.P. | 2015 | $350,000,000 | $350,162,050 | $722,014,451 | $899,536,015 | 26.0% | 2.6x |
| Whitney Global Partners II L.P. | 2024 | $277,798,045 | $70,990,083 | $0 | $71,236,996 | N/M 1 | N/M 1 |
| Whitney Global Partners L.P. | 2021 | $807,068,746 | $756,362,645 | $493,241 | $879,785,500 | 9.2% 1 | 1.2x 1 |
| Wigeavenmore Co-Investment LP | 2024 | $298,864,569 | $29,429,651 | $0 | $48,516,238 | N/M 1 | N/M 1 |
| Wigmore Street (BDC III) LP | 2017 | $32,827,100 | $30,733,886 | $68,253,967 | $97,966,969 | 35.4% | 3.2x |
| Wigmore Street BDC IV Co-Investment No.1 LP | 2021 | $50,570,070 | $38,381,073 | $0 | $45,458,661 | 11.8% 1 | 1.2x 1 |
| Wigmore Street Co-investment No. 1 LP | 2016 | $99,567,078 | $93,696,159 | $159,363,280 | $201,265,419 | 21.9% | 2.1x |
| Wigmore Street VI Co-Investment No. 1 LP | 2019 | $98,989,877 | $96,673,167 | $3,772,436 | $174,894,109 | 17.0% | 1.8x |
| Yucaipa American Alliance Fund II, L.P. | 2008 | $400,000,000 | $560,638,831 | $612,947,113 | $911,961,547 | 7.3% | 1.6x |
| Yucaipa Corporate Initiatives Fund I, L.P. | 2001 | $200,000,000 | $288,655,697 | $220,089,977 | $225,523,591 | -3.7% | 0.8x |
| Yucaipa Corporate Initiatives Fund II, L.P. | 2008 | $93,539,524 | $91,400,621 | $81,687,571 | $82,794,733 | -1.3% | 0.9x |
1Not Meaningful: Funds with a vintage year of 2020 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.