Sei sulla pagina 1di 14

Massachusetts Pension Reserves Investment Management Board

Private Equity Funds Disclosure Report


Values and Performance as of 3/31/2020
All information presented in US Dollars
Fund Vintage Year Commitment
ACON Equity Partners III, L.P. 2013 50,000,000
Advent International GPE IX, L.P. 2019 260,000,000
Advent International GPE V-H, L.P. 2005 60,000,000
Advent International GPE VI L.P. 2008 134,856,359
Advent International GPE VII, L.P. 2012 181,334,099
Advent International GPE VIII-B, L.P. 2016 225,000,000
Alchemy Investment Plan (Hawthorne I) 2002 36,587,392
Alta Communications IX, L.P. 2003 50,000,000
American Industrial Partners Capital Fund VII, L.P. 2019 75,000,000
American Securities Partners V, L.P. 2008 75,000,000
American Securities Partners VI, L.P. 2011 150,000,000
American Securities Partners VII, L.P. 2016 175,000,000
American Securities Partners VIII, L.P. 2019 150,000,000
Apollo Investment Fund IV, L.P. 1998 50,000,000
Ascent Venture Partners V, L.P. 2012 12,000,000
Ascent Venture Partners VI, L.P. 2015 14,150,000
Austin Ventures IX, L.P. 2006 15,000,000
Austin Ventures VII, L.P. 1999 33,000,000
Austin Ventures VIII, L.P. 2001 27,666,667
Bain Capital Fund X, L.P. 2008 125,000,000
Battery Ventures IX, L.P. 2011 28,500,000
Battery Ventures VII, L.P. 2005 14,000,000
Battery Ventures VIII Side Fund, L.P. 2008 11,200,000
Battery Ventures VIII, L.P. 2007 21,000,000
Battery Ventures X - Side Fund, L.P. 2013 13,625,000
Battery Ventures X, L.P. 2013 30,000,000
Bayside Opportunity Fund, L.P. 2004 15,000,000
Berkshire Fund IX Co-Investment Fund, L.P. 2018 20,000,000
Berkshire Fund IX, L.P. 2017 150,000,000
Berkshire Fund VI, L.P. 2002 30,000,000
Berkshire Fund VII, LP 2006 48,000,000
Berkshire Fund VIII, L.P. 2011 100,000,000
Blackstone Capital Partners IV, L.P. 2003 75,000,000
Blackstone Capital Partners V, L.P. 2006 125,000,000
Blackstone Capital Partners VI, L.P. 2011 100,000,000
Blackstone Capital Partners VII, L.P. 2016 225,000,000
Blackstone Capital Partners VIII, L.P. 2020 250,000,000
Bridgepoint Europe IV, L.P. 2008 92,757,307
Candover 2005 Fund, L.P. 2005 85,080,194
Candover 2008 Fund US No. 1, L.P. 2008 20,578,436
Carlyle Partners V, L.P. 2007 125,000,000
Castile Ventures III 2006 10,000,000
Catalyst Investors III, L.P. 2012 25,500,000
Catalyst Investors IV, L.P. 2015 65,000,000
Centerbridge Capital Partners II, L.P. 2011 150,000,000
Centerbridge Capital Partners III, L.P. 2015 175,000,000
Centerbridge Capital Partners, LP 2007 50,000,000
Charles River Partnership XI, L.P. 2001 9,193,549
Charlesbank Equity Fund IX, L.P. 2018 130,000,000
Charlesbank Equity Fund IX, L.P. - Overage Program 2018 20,000,000
Charlesbank Equity Fund VI, L.P. 2005 48,000,000
Charlesbank Equity Fund VII, L.P. 2009 95,000,000
Charlesbank Equity Fund VIII, L.P. 2015 110,000,000
Charterhouse Capital Partners IX, L.P. 2009 103,061,235
Charterhouse Capital Partners X, L.P. 2016 109,621,915
Chequers Capital XVI FCPR 2011 35,564,171
Chequers Capital XVII 2017 50,159,488
CHS Private Equity V, L.P. 2005 50,000,000
Commonwealth Capital Ventures, L.P. 1995 50,000,000
CVC Capital Partners VI, L.P. 2014 170,239,931
CVC Capital Partners VII, L.P. 2018 221,392,875
CVC European Equity Partners III, L.P. - Euro 2001 96,731,914
CVC European Equity Partners IV, L.P. 2005 133,371,057
CVC European Equity Partners V, L.P. 2008 182,724,558
Denham Commodity Partners Fund VI, L.P. 2011 100,000,000
El Dorado Ventures VII, L.P. 2005 16,000,000
Essex Woodlands Health Ventures Fund IV, L.P. 1998 12,000,000
Essex Woodlands Health Ventures Fund V, L.P. 2000 30,000,000
Essex Woodlands Health Ventures Fund VI, L.P. 2004 30,000,000
Ethos Private Equity Fund VI, L.P. 2011 40,000,000
Exponent Private Equity Partners 2005 41,095,450
Exponent Private Equity Partners II, L.P. 2008 76,139,794
First Reserve Fund XI, L.P. 2006 125,000,000
Flagship Pioneering - Origination Fund VII, L.P. 2020 25,000,000
Flagship Pioneering Fund VI, L.P. 2017 25,000,000
Flagship Pioneering Special Opportunities Fund II, L.P. 2019 27,500,000
Flagship Ventures Fund 2004, L.P. 2004 10,000,000
Flagship Ventures Fund 2007, L.P. 2007 20,000,000
Flagship Ventures Fund IV, L.P. 2010 20,000,000
Flagship Ventures Fund V, L.P. 2015 25,000,000
Flagship Ventures Opportunities Fund I, L.P. 2016 50,000,000
FS Equity Partners IV, L.P. 1998 25,000,000
Genstar Capital Partners V, L.P. 2007 57,000,000
Genstar Capital Partners VI, L.P. 2012 60,000,000
Georgian Partners Growth Fund V, L.P. * 75,000,000
Gilde Buyout Fund IV L.P. 2011 38,120,145
Gores Capital Partners II, L.P. 2007 100,000,000
Gores Capital Partners III, L.P. 2010 100,000,000
GTCR Fund VIII, L.P. 2003 75,000,000
GTCR Fund X, L.P. 2011 150,000,000
GTCR Fund XI, L.P. 2014 165,000,000
GTCR Fund XII, L.P. 2018 200,000,000
H.I.G. Bayside Debt & LBO Fund II, L.P. 2008 75,000,000
H.I.G. Capital Partners III, L.P. 2002 12,000,000
H.I.G. Capital Partners V, L.P. 2013 30,000,000
H.I.G. Europe Capital Partners II, L.P. 2014 23,009,587
H.I.G. Middle Market LBO Fund II, L.P. 2014 50,000,000
Hellman & Friedman Capital Partners IX, L.P. 2019 300,000,000
Hellman & Friedman Capital Partners VI, L.P. 2007 125,000,000
Hellman & Friedman Capital Partners VII, L.P. 2011 200,000,000
Hellman & Friedman Capital Partners VIII, L.P. 2016 230,000,000
H&F Spock 1, L.P. 2018 20,349,451
Highland Capital Partners VI-B, L.P. 2001 25,000,000
Highland Capital Partners VII, L.P. 2006 25,000,000
Highland Capital Partners VIII, L.P. 2010 30,000,000
Hony Capital Fund V, L.P. 2012 40,000,000
Index Ventures Growth II (Jersey) 2011 26,760,632
Index Ventures Growth III (Jersey), L.P. 2015 33,873,101
Index Ventures Growth IV, L.P. 2018 46,000,000
Index Ventures Growth V, L.P. 2020 46,000,000
Index Ventures IX, L.P. 2018 18,000,000
Index Ventures Life VI (Jersey) 2012 11,061,920
Index Ventures VI (Jersey), L.P. 2012 13,037,203
Index Ventures VII (Jersey), L.P. 2014 12,401,967
Index Ventures VIII (Jersey), L.P. 2016 15,000,000
Index Ventures X, L.P. 2020 18,000,000
Insight Partners XI, L.P. 2020 140,000,000
Insight Venture Partners Coinvestment Fund III, L.P. 2014 22,000,000
Insight Venture Partners Co-Investment II, L.P. 2011 15,000,000
Insight Venture Partners Growth-Buyout Coinvestment Fund, L.P. 2015 40,000,000
Insight Venture Partners IX, L.P. 2015 120,000,000
Insight Venture Partners VI, L.P. 2007 25,000,000
Insight Venture Partners VII, L.P. 2011 50,000,000
Insight Venture Partners VIII, L.P. 2013 94,000,000
Insight Venture Partners X, L.P. 2018 80,000,000
Institutional Venture Partners XIII, L.P. 2010 25,000,000
Institutional Venture Partners XIV, L.P. 2013 40,000,000
InterWest Partners VIII, L.P. 2000 20,000,000
JMI Equity Fund IX, L.P. 2018 70,000,000
Kelso Investment Associates VII, L.P. 2004 75,000,000
Kelso Investment Associates VIII, L.P. 2007 125,000,000
Kepha Partners II, L.P. 2012 15,000,000
Keytone Ventures II, L.P. 2011 20,000,000
KKR 2006 Fund, L.P. 2006 75,000,000
KKR North America Fund XI, L.P. 2012 100,000,000
KPS Special Situations Fund III (Supplemental), L.P. 2009 50,000,000
KPS Special Situations Fund IV, L.P. 2014 50,000,000
KPS Special Situations Fund V, L.P. 2020 75,000,000
KPS Special Situations Mid-Cap Fund, L.P. 2019 40,000,000
Lovell Minnick Equity Partners IV, L.P. 2015 100,000,000
Lovell Minnick Equity Partners V, L.P. 2019 175,000,000
M/C Venture Partners V, L.P. 2000 15,000,000
M/C Venture Partners VI, L.P. 2006 40,000,000
Madison Dearborn Capital Partners IV, L.P. 2000 75,000,000
Madison Dearborn Capital Partners V, L.P. 2006 125,000,000
Medicxi Growth I, L.P. 2016 13,239,576
Medicxi III, L.P. 2020 32,995,514
Medicxi Ventures I, L.P. 2016 13,496,863
Menlo Ventures IX, L.P. 2001 42,500,000
Menlo Ventures X, L.P. 2006 34,000,000
Montagu IV, L.P. 2011 75,254,482
Montreux Equity Partners IV, L.P. 2007 20,000,000
Nash, Sells Limited Partnership II 1995 21,102,783
Nautic Partners V, L.P. 2000 50,000,000
New Enterprise Associates 10, L.P. 2000 30,000,000
New Enterprise Associates 11, L.P. 2004 25,000,000
New Enterprise Associates 12, L.P. 2006 50,000,000
New Enterprise Associates 9, L.P. 1999 20,000,000
New Enterprise Associates VIII, L.P. 1998 15,000,000
New Enterprise Associates VIII-A, L.P. 2001 10,000,000
Nordic Capital CV1 Beta, L.P. 2018 64,755,471
Nordic Capital Fund IX, L.P. 2018 110,913,036
Nordic Capital Fund VI, L.P. 2006 66,902,248
Nordic Capital Fund VII, L.P. 2008 133,489,619
Nordic Capital Fund VIII, L.P. 2013 137,701,954
Nordic Capital V, L.P. 2003 52,822,504
Odyssey Investment Partners Fund IV, L.P. 2009 100,000,000
Olympus Growth Fund V, L.P. 2008 125,000,000
Onex Partners II, L.P. 2006 125,000,000
Onex Partners III, L.P. 2009 150,000,000
Onex Partners IV, L.P. 2014 150,000,000
Onex Partners V, L.P. 2018 160,000,000
Onex Partners, L.P. 2004 75,000,000
PAI Europe V 2007 47,836,566
Permira Europe II, L.P. 2 2000 80,742,039
Permira Europe III, L.P. 2003 111,468,189
Permira IV, L.P. 2006 119,858,006
Polaris Growth Fund, L.P. 2018 30,000,000
Polaris Venture Partners III, L.P. 2000 20,000,000
Polaris Venture Partners IV, L.P. 2002 50,000,000
Polaris Venture Partners V, L.P. 2006 50,000,000
Polaris Venture Partners VI, L.P. 2011 20,000,000
Providence Equity Partners IV, L.P. 2001 25,000,000
Providence Equity Partners V, L.P. 2005 70,000,000
Providence Equity Partners VI, L.P. 2007 125,000,000
Providence Equity Partners VII, L.P. 2012 100,000,000
Providence Strategic Growth III, L.P. 2018 57,500,000
Providence Strategic Growth IV, L.P. 2019 100,000,000
Quad-C Partners IX, L.P. 2017 85,000,000
Quad-C Partners VII, L.P. 2006 59,000,000
Quad-C Partners VIII, L.P. 2012 50,000,000
Quantum Energy Partners VI, L.P. 2014 100,000,000
Quantum Energy Partners VII Co-Investment Fund, L.P. 2017 22,500,000
Quantum Energy Partners VII, L.P. 2017 150,000,000
Quantum Parallel Partners VI-C, L.P. 2015 45,000,000
Rembrandt Venture Partners II, L.P. 2010 20,000,000
Rembrandt Venture Partners III, L.P. 2012 20,000,000
Rhone Partners V, L.P. 2015 112,189,591
SAIF Partners IV, L.P. 2010 25,000,000
SCP Vitalife Partners II, L.P. 2007 15,000,000
Sherbrooke Capital Health & Wellness II, L.P. 2007 20,000,000
Sofinnova Venture Partners IX, L.P. 2014 30,000,000
Sofinnova Venture Partners VIII, L.P. 2011 20,000,000
Sofinnova Venture Partners X, L.P. 2017 50,000,000
Spark Capital Growth Fund II, L.P. 2017 40,000,000
Spark Capital Growth Fund III, L.P. 2020 20,000,000
Spark Capital Growth Fund, L.P. 2014 40,000,000
Spark Capital II, L.P. 2008 12,500,000
Spark Capital III, L.P. 2011 20,000,000
Spark Capital IV, L.P. 2013 25,000,000
Spark Capital V, L.P. 2017 25,000,000
Spark Capital VI, L.P. 2020 10,000,000
Spark Capital, L.P. 2005 11,800,000
Spectrum Equity Investors V, L.P. 2006 50,000,000
Summit Partners Private Equity Fund VII-A, L.P. 2006 17,500,000
Summit Partners Venture Capital Fund II-A, L.P. 2006 2,500,000
Summit Ventures VI-A, L.P. 2001 10,000,000
SV Life Sciences Fund V, L.P. 2009 25,000,000
TA Select Opportunities Fund, L.P. 2020 75,000,000
TA X, L.P. 2006 42,000,000
TA XI, L.P. 2010 150,000,000
TA XII, L.P. 2016 200,000,000
TA XIII, L.P. 2019 250,000,000
TCV IX, L.P. 2016 125,000,000
TCV VI, L.P. 2006 30,000,000
TCV VII, L.P. 2008 75,000,000
TCV VIII, L.P. 2014 100,000,000
TCV X, L.P. 2019 150,000,000
Thoma Bravo Discover Fund II, L.P. 2018 100,000,000
Thoma Bravo Discover Fund, L.P. 2016 60,000,000
Thoma Bravo Fund IX, L.P. 2008 50,000,000
Thoma Bravo Fund X, L.P. 2012 75,000,000
Thoma Bravo Fund XI, L.P. 2014 150,000,000
Thoma Bravo Fund XII, L.P. 2016 100,000,000
Thoma Bravo Fund XIII, L.P. 2018 150,000,000
Thoma Bravo Special Opportunities Fund I, L.P. 2013 25,000,000
Thoma Bravo Special Opportunities Fund II, L.P. 2015 50,000,000
Thoma Cressey Fund VII, L.P. 2001 40,000,000
Thomas H. Lee Equity Fund VI, L.P. 2006 125,000,000
Thomas H. Lee Equity Fund VII, L.P. 2015 50,000,000
Thomas H. Lee Equity Fund VIII, L.P. 2018 50,000,000
Thompson Street Capital Partners V, L.P. 2018 55,000,000
TorQuest Partners Fund II, LP 2006 23,022,525
Towerbrook Investors III, L.P. 2008 50,000,000
Towerbrook Investors IV, L.P. 2013 75,000,000
Towerbrook Investors V, L.P. 2019 150,000,000
TowerBrook Structured Opportunities Fund II, L.P. 2019 75,000,000
TPG Partners III, L.P. 2000 75,000,000
TPG Partners IV, L.P. 2003 75,000,000
TPG Partners V, L.P. 2006 125,000,000
TPG Partners VI, L.P. 2008 200,000,000
Trident Capital Fund V, L.P. 2000 17,646,664
Trident Capital Fund VI, L.P. 2005 15,000,000
Trident VII, L.P. 2017 50,000,000
Trident VIII, L.P. 2020 90,000,000
Union Square Ventures 2004 2004 10,000,000
Union Square Ventures 2008, L.P. 2008 10,000,000
Union Square Ventures 2012 Fund, L.P. 2011 15,000,000
Union Square Ventures 2014, L.P. 2014 11,250,000
Union Square Ventures Opportunity 2014, L.P. 2014 11,250,000
Union Square Ventures Opportunity Fund, L.P. 2010 11,250,000
USV 2016, L.P. 2016 11,250,000
USV 2019, L.P. 2019 11,250,000
USV Opportunity 2019, L.P. 2019 14,062,500
VantagePoint Venture Partners IV, L.P. 2000 50,000,000
Vestar Capital Partners III, L.P. 1997 22,000,000
Vestar Capital Partners IV, L.P. 2000 65,000,000
Vestar Capital Partners V, L.P. 2006 125,000,000
Vista Equity Partners Fund III, L.P. 2007 50,000,000
Vista Equity Partners Fund V, L.P. 2014 100,000,000
Vista Equity Partners IV, L.P. 2011 150,000,000
Waterland Private Equity Fund VII, C.V. 2018 55,273,546
Weston Presidio V, L.P. 2005 45,000,000
Westview Capital Partners II, L.P. 2009 25,000,000
Westview Capital Partners III, L.P. 2014 30,000,000
WestView Capital Partners IV, L.P. 2018 50,000,000
Xenon Private Equity V, L.P. 2009 24,058,554
Xenon Private Equity VI, SCA SICAR 2014 19,394,479
*       The data in this field has been identified by the respective investment manager as being within the coverage of M.G.L. c.
disclosure would likely impair the government's ability to obtain such information in the future and is likely to cause substanti
from whom the information was obtained.

Disclosures:
The information listed in this report was prepared by Hamilton Lane for PRIM based on information provided by the general p
the respective partnerships, their general partners or their affiliates. The data does not necessarily accurately reflect the curre
fair value of their interests and should not be used to compare returns among multiple private equity funds.

IRRs presented are interim estimates and may not be indicative of the ultimate performance of partnership investments due t
standards and the differences in the investment pace and strategy of various funds. IRRs and multiples tend to be less meanin
portfolio company investments have typically not been realized. The IRRs and multiples provided in this report are calculated
general partners (e.g. cash flows and valuations). Such IRR and multiple calculations have not been confirmed by the general p
generated by the general partners or other limited partners, primarily due to differences in the date of close, sale of distribute
important factor that must be considered in measuring and evaluating partnership performance such as IRRs and multiples is
expenses may reduce partnership performance in the initial years of the partnership term. As a result, private equity partners
low or negative. After the initial years of the partnership term, say three to five years from partnership inception, interim perf
without the J-Curve effect. This period is generally shorter for buyout partnerships than for venture capital and growth equity
fees and the general partners’ carried interest.

Vintage Year has been determined by Hamilton Lane and not the general partner.
Contributed Distributed NAV Net IRR Net Multiple
52,968,768 21,058,307 33,483,790 0.8% 1.0x
57,199,999 0 51,204,845 (16.2%) 0.9x
57,687,453 139,115,283 2,757,541 48.6% 2.5x
138,908,781 258,969,164 14,133,796 15.7% 2.0x
170,168,597 169,886,205 101,759,293 12.1% 1.6x
208,575,001 0 219,682,933 2.7% 1.1x
37,678,381 53,116,473 912,812 14.4% 1.4x
47,500,000 36,778,121 1,335,066 (3.0%) 0.8x
1,499,052 835 174,229 (92.1%) 0.1x
82,593,004 152,439,710 327,639 20.2% 1.8x
160,767,193 241,738,439 66,100,695 20.5% 1.9x
150,174,306 22,632,691 94,654,402 (12.0%) 0.8x
22,066,905 0 14,045,993 (96.0%) 0.0x
51,120,766 84,514,931 55,911 8.5% 1.7x
12,056,798 7,527,561 9,446,314 7.3% 1.4x
12,169,000 0 12,859,116 2.2% 1.1x
15,485,713 19,011,859 1,420,417 4.6% 1.3x
33,000,000 26,587,323 56,521 (2.8%) 0.8x
29,409,482 46,539,101 978,873 6.9% 1.6x
128,031,478 * * * *
28,029,749 49,207,385 * 23.9% *
14,000,000 25,162,526 * 9.8% *
10,583,445 27,143,653 * 29.9% *
21,148,025 46,734,778 * 17.1% *
12,432,813 15,074,977 * 22.0% *
27,450,000 13,103,753 * 11.0% *
14,730,874 17,850,968 * 3.6% *
9,031,536 0 6,177,242 (42.5%) 0.7x
91,392,627 14,407,375 81,761,700 3.0% 1.1x
29,711,740 83,807,012 5,003,148 25.0% 3.0x
49,343,040 102,611,925 2,078,614 17.4% 2.1x
107,150,174 102,015,982 62,878,803 12.6% 1.5x
87,464,449 211,140,521 1,846,262 36.3% 2.4x
131,267,071 207,799,730 5,617,841 7.6% 1.6x
107,686,750 96,165,079 54,883,006 9.2% 1.4x
195,114,494 20,348,156 197,834,456 8.6% 1.1x
0 0 0 N/A N/A
88,991,999 122,692,832 13,369,691 9.6% 1.5x
87,297,979 41,275,686 1 (12.3%) 0.5x
22,286,507 3,205,264 1 (71.8%) 0.1x
129,632,833 213,770,366 15,356,765 13.5% 1.8x
10,000,000 2,792,742 88,744 (33.9%) 0.3x
29,188,200 16,507,770 24,052,047 8.0% 1.4x
61,016,441 13,550,367 87,337,444 18.5% 1.7x
221,028,807 161,708,909 28,458,344 (5.5%) 0.9x
143,165,386 61,275,322 130,539,519 14.1% 1.3x
78,929,176 134,911,783 5,613,728 19.3% 1.8x
* * * * *
43,335,528 2,087,334 29,249,812 (27.0%) 0.7x
8,033,743 0 8,225,774 1.8% 1.0x
54,025,668 84,064,986 3,791,163 10.5% 1.6x
111,397,175 191,157,171 29,319,659 23.3% 2.0x
120,710,652 85,063,151 82,648,454 14.6% 1.4x
100,157,810 114,904,570 12,345,500 8.7% 1.3x
59,122,175 17,638,596 62,969,280 17.3% 1.4x
34,821,637 40,421,733 11,269,786 11.1% 1.5x
20,473,002 0 13,072,607 (37.8%) 0.6x
54,107,136 91,764,305 87,807 9.8% 1.7x
50,000,000 50,211,687 293,664 0.2% 1.0x
174,009,752 85,245,756 175,503,134 15.4% 1.5x
111,963,945 952,786 108,990,865 (2.7%) 1.0x
74,086,606 207,923,988 5,094,366 41.0% 2.9x
127,221,814 248,254,201 123,786 16.8% 2.0x
188,215,089 359,177,215 15,904,619 16.4% 2.0x
114,242,184 63,533,909 52,540,428 0.6% 1.0x
* * * * *
* * * * *
* * * * *
* * * * *
48,328,137 18,548,312 * (21.2%) *
42,342,099 55,481,123 440,167 7.1% 1.3x
86,316,993 126,218,868 1,202,283 9.4% 1.5x
133,177,967 87,186,105 143,970 (10.1%) 0.7x
0 0 0 N/A N/A
14,500,000 0 28,277,446 71.1% 2.0x
6,600,000 0 6,315,052 (6.8%) 1.0x
10,015,998 10,305,656 10,389 0.3% 1.0x
19,984,311 31,600,161 4,703,283 11.1% 1.8x
20,000,000 28,386,584 175,356,953 45.4% 10.2x
25,000,668 1,281,869 76,211,846 38.8% 3.1x
42,250,000 0 39,478,525 (3.9%) 0.9x
25,441,397 43,280,421 11,462 12.8% 1.7x
* * * * *
* * * * *
8,647,456 0 7,728,084 (10.6%) 0.9x
38,122,807 46,226,119 7,539,419 8.3% 1.4x
111,777,989 142,306,106 3,655,265 7.3% 1.3x
102,145,249 103,443,605 4,169,379 1.7% 1.1x
68,687,751 119,749,391 941,208 22.4% 1.8x
157,279,721 303,807,996 4,910,922 20.9% 2.0x
149,899,759 140,809,278 132,258,737 23.8% 1.8x
87,100,000 3,906,779 84,738,212 2.0% 1.0x
74,859,551 114,549,703 * 14.1% *
12,562,379 31,213,498 * 24.0% *
24,083,276 7,896,539 * 19.3% *
17,402,464 3,974,598 * (2.0%) *
38,374,186 18,442,355 * 19.3% *
0 0 0 N/A N/A
122,278,989 221,284,987 4,789,081 12.9% 1.8x
191,688,954 267,682,858 248,040,339 23.0% 2.7x
230,642,114 21,660,970 217,782,777 2.1% 1.0x
20,362,087 0 37,129,806 35.5% 1.8x
25,000,000 39,708,190 371,497 11.4% 1.6x
25,001,094 29,323,165 7,773,474 5.9% 1.5x
30,000,000 10,924,626 25,370,676 3.1% 1.2x
47,854,689 8,484,719 * (1.0%) *
* * * 16.6% *
* * * 27.0% *
* * * * *
* * * * *
* * * * *
* * * 38.7% *
* * * 31.6% *
* * * 10.9% *
* * * * *
* * * * *
20,250,000 0 18,565,022 (8.3%) 0.9x
22,000,000 51,145,663 7,506,901 26.4% 2.7x
16,319,999 37,956,804 10,592,908 22.5% 3.0x
38,334,604 11,084,070 77,091,113 30.0% 2.3x
118,142,669 20,350,051 229,863,661 24.6% 2.1x
27,858,016 69,157,622 200,135 19.2% 2.5x
53,300,379 107,974,045 34,104,574 20.8% 2.7x
98,230,434 128,647,294 97,301,628 18.7% 2.3x
71,840,000 27,396 83,967,565 14.8% 1.2x
25,000,000 31,166,047 11,698,266 11.2% 1.7x
40,036,078 23,847,294 35,201,524 9.7% 1.5x
20,000,000 10,363,013 2,603,244 (5.0%) 0.6x
21,209,999 0 21,367,056 1.4% 1.0x
80,515,308 126,511,701 120,994 11.3% 1.6x
120,918,636 140,199,371 18,900,001 5.8% 1.3x
11,250,000 838,103 7,225,959 (8.6%) 0.7x
19,600,000 4,119,039 27,642,491 7.8% 1.6x
81,457,591 121,730,780 19,481,273 8.9% 1.7x
115,258,235 118,900,319 79,164,570 17.0% 1.7x
47,362,754 100,183,173 * 22.8% *
43,158,101 15,131,180 * 11.0% *
0 0 * N/A *
7,092,756 0 * (6.0%) *
109,655,574 81,761,474 71,540,895 18.5% 1.4x
35,625,270 52,480 30,782,440 (20.3%) 0.9x
14,920,577 24,109,224 50,348 8.3% 1.6x
39,592,896 83,848,452 148,163 13.4% 2.1x
75,432,572 140,968,151 1,688,636 14.1% 1.9x
119,455,712 189,582,666 1,720,267 7.1% 1.6x
* * * * *
* * * * *
* * * * *
42,500,000 43,040,662 794,819 0.5% 1.0x
34,000,000 69,498,721 1,683,558 10.6% 2.1x
77,313,732 * * 12.6% *
19,907,466 10,966,853 15,575,155 4.3% 1.3x
21,100,601 65,351,277 88,011 17.6% 3.1x
47,361,360 97,941,450 2,178,215 16.9% 2.1x
30,000,000 29,148,149 3,838,716 1.6% 1.1x
25,000,000 63,385,663 2,668,854 15.5% 2.6x
49,250,000 64,331,152 5,324,884 6.6% 1.4x
19,600,000 8,228,230 1,037,726 (6.0%) 0.5x
15,000,000 23,679,872 1,198,937 30.5% 1.7x
10,000,000 6,933,069 932,009 (2.6%) 0.8x
72,019,014 14,078,720 60,327,503 2.1% 1.0x
47,375,631 0 55,185,745 36.0% 1.2x
68,788,936 104,930,299 174,213 6.9% 1.5x
146,551,173 198,111,038 685,604 5.4% 1.4x
152,363,533 112,103,874 94,627,148 10.5% 1.4x
53,307,905 145,498,021 359,270 20.7% 2.7x
89,022,708 245,780,251 * 33.2% *
127,989,793 259,495,417 * 15.9% *
111,709,486 201,792,767 * 12.9% *
165,218,220 218,518,738 * 10.6% *
150,269,429 73,368,183 * 2.1% *
16,102,347 0 * (86.2%) *
71,685,036 219,233,264 * 38.3% *
47,180,572 79,623,517 799,183 9.2% 1.7x
81,334,911 160,129,029 439,990 23.8% 2.0x
111,676,751 179,323,663 232,239 25.8% 1.6x
127,538,132 185,054,292 15,184,972 8.7% 1.6x
4,200,000 0 3,946,220 (6.0%) 0.9x
19,894,749 14,654,818 324,428 (3.3%) 0.8x
49,750,000 55,564,718 4,521,476 2.3% 1.2x
49,000,000 55,331,159 29,032,197 8.1% 1.7x
17,500,000 12,515,238 29,168,343 18.7% 2.4x
33,229,786 65,878,083 11,141 23.9% 2.0x
72,524,181 86,604,023 939,801 3.0% 1.2x
144,812,025 155,751,417 27,628,593 4.6% 1.3x
121,422,233 112,971,193 86,567,929 19.3% 1.6x
42,383,438 9,987,801 36,757,485 10.1% 1.1x
9,972,125 3,058,098 5,833,808 (14.9%) 0.9x
42,096,428 1,535,912 40,869,990 0.5% 1.0x
63,845,704 99,429,074 112,551 10.8% 1.6x
47,526,329 98,911,454 11,998,702 28.9% 2.3x
88,924,759 53,131,796 74,843,678 20.3% 1.4x
7,061,233 6,056 3,412,205 (34.3%) 0.5x
78,347,820 5,438,506 52,097,787 (18.6%) 0.7x
21,134,122 2,752,361 25,238,177 12.7% 1.3x
20,908,983 13,934,353 9,007,088 2.0% 1.1x
19,890,000 4,446,443 27,930,907 11.2% 1.6x
81,277,017 22,164,419 67,765,980 5.0% 1.1x
30,653,580 12,814,907 35,507,063 8.0% 1.6x
14,966,886 0 5,904,257 (10.0%) 0.4x
21,993,181 19,286,357 9,342,920 11.9% 1.3x
29,100,000 9,647,574 29,360,543 10.7% 1.3x
20,000,000 25,425,150 6,093,139 21.2% 1.6x
19,000,000 1,570,405 22,238,751 18.4% 1.3x
35,400,000 0 40,133,998 9.5% 1.1x
0 0 0 N/A N/A
40,000,000 0 78,414,895 17.2% 2.0x
12,500,000 45,026,554 7,785,924 51.4% 4.2x
20,000,000 26,917,871 40,844,142 31.9% 3.4x
24,875,000 7,493,095 36,574,773 15.3% 1.8x
20,875,000 0 22,404,055 4.9% 1.1x
0 0 0 N/A N/A
11,564,000 15,650,782 612,502 8.4% 1.4x
46,915,586 114,017,899 372,041 18.0% 2.4x
17,788,111 28,802,568 3,276,310 10.2% 1.8x
2,832,974 5,857,228 144,661 19.3% 2.1x
10,117,660 21,727,337 143,332 15.4% 2.2x
31,649,530 24,295,117 12,305,350 4.8% 1.2x
0 0 0 N/A N/A
43,253,627 55,554,478 17,389 5.0% 1.3x
161,603,619 297,702,453 82,253,337 22.7% 2.4x
202,405,686 106,858,538 235,808,235 32.7% 1.7x
37,500,000 0 31,447,477 (16.1%) 0.8x
94,487,500 6,869,026 108,095,914 11.7% 1.2x
29,859,000 43,699,238 4,070,398 12.7% 1.6x
73,808,641 162,213,944 52,557,350 22.9% 2.9x
84,811,373 13,091,413 128,697,614 12.6% 1.7x
54,435,000 0 50,700,835 (10.3%) 0.9x
50,737,429 0 50,244,068 (1.2%) 1.0x
68,102,452 54,931,682 73,926,108 31.5% 1.9x
59,461,973 196,639,094 515,192 44.0% 3.3x
90,343,126 210,726,018 42,989,980 38.1% 2.8x
157,363,082 195,930,545 236,365,442 28.5% 2.7x
101,242,318 6,886,993 129,646,633 13.4% 1.3x
91,724,430 0 97,501,050 9.7% 1.1x
28,335,930 51,080,122 21,519,984 34.0% 2.6x
52,031,933 45,081,371 57,980,711 19.9% 2.0x
40,141,804 85,646,580 261,478 24.2% 2.1x
132,856,806 207,226,755 5,037,528 7.8% 1.6x
49,165,847 16,532,268 54,689,772 19.7% 1.4x
15,209,357 3,805,565 13,535,612 42.0% 1.1x
20,411,446 0 18,547,751 (16.5%) 0.9x
22,551,065 25,469,547 1,734,357 3.3% 1.2x
52,851,486 64,691,327 4,054,266 8.5% 1.3x
56,659,119 20,050,691 58,792,534 17.1% 1.4x
12,062,600 0 10,498,293 (13.0%) 0.9x
2,692,406 57,143 2,328,741 (11.6%) 0.9x
69,086,224 171,400,457 99,804 24.5% 2.5x
82,254,032 157,466,054 907,872 15.3% 1.9x
131,540,123 176,239,290 2,353,798 4.8% 1.4x
217,866,558 288,347,912 38,349,499 10.0% 1.5x
* * * * *
* * * * *
42,108,659 5,437,720 42,839,204 10.2% 1.1x
0 0 0 N/A N/A
10,027,741 123,503,860 916,606 67.5% 12.4x
9,500,000 23,493,738 10,607,599 20.1% 3.6x
14,025,000 7,319,512 47,210,272 25.9% 3.9x
10,462,500 1,127,685 22,584,881 23.8% 2.3x
8,212,500 642,856 13,741,237 16.0% 1.8x
10,950,000 31,255,453 8,533,914 58.5% 3.6x
7,762,500 0 9,111,464 9.2% 1.2x
2,981,250 0 2,570,665 (30.7%) 0.9x
4,570,313 0 4,386,130 (5.6%) 1.0x
* * * * *
21,428,907 24,397,965 12,580 2.6% 1.1x
63,501,160 112,171,496 401,054 13.4% 1.8x
125,748,324 150,930,627 13,153,808 3.8% 1.3x
53,350,325 127,364,547 3,980,345 26.9% 2.5x
121,819,183 120,011,432 99,034,093 20.2% 1.8x
151,609,480 195,813,167 86,791,176 15.5% 1.9x
11,841,765 0 10,339,365 (16.4%) 0.9x
43,876,288 98,511,847 3,068,782 15.3% 2.3x
24,371,803 59,333,269 4,635,433 24.6% 2.6x
28,675,859 21,426,437 27,910,955 22.0% 1.7x
19,257,144 0 21,138,691 12.7% 1.1x
24,189,020 32,359,099 * 8.9% *
20,652,341 16,261,595 * 19.5% *
he coverage of M.G.L. c. 32, §23(6), and therefore may not be disclosed because
likely to cause substantial harm to the competitive position of the person or entity

rovided by the general partners but not prepared, reviewed, verified or approved by
ccurately reflect the current or expected future performance of the partnerships or the
funds.

ership investments due to a number of factors, such as the lack of industry valuation
es tend to be less meaningful in the early years of a partnership's term when underlying
his report are calculated by Hamilton Lane based on information provided by the
onfirmed by the general partners. The IRRs and multiples shown may differ from that
of close, sale of distributed stock, accounting for bridge loans and valuations. An
as IRRs and multiples is the J-Curve effect. Accounting for management fees and other
t, private equity partnership returns in the initial years of the partnership term may be
p inception, interim performance data may provide an indication of the rates of return
apital and growth equity partnerships. The IRRs shown above are net of management