CalPERS Releases New PE Performance Data

CalPERS, the nation’s largest public pension system, has updated its website to include private equity performance data through the end of Q1.

Finally! The refresh should have occured following an August 17 investment committee meeting, but neither official schedules nor my constant pestering — just ask the CalPERS press office — could make the system’s webmaster go faster than glacial.

Overall, the private equity portfolio had $42.4 billion in private equity exposure as of March 31 (down 31.4% year-to-year). This includes 629 active fund interests, including leveraged buyout funds, venture capital funds, growth equity funds, mezzanine funds, funds-of-funds and distressed funds. You can download the whole lot of them (with IRRs) by clicking here.

If that’s too many numbers, what follows is some data on CalPERS’ five largest holdings (by commitment size). I’ve filtered out commitments made in 2007-2009, to reduce J-curve influence:

  • Blackstone Capital Partners V (2006): -20.3% compared to -21% on 12/31/08
  • TPG Partners V (2006) -24.4% compared to -25.3%
  • Apollo Investment Fund VI (2006): -39.8% compared to -36.3%
  • PCG Corporate Partners Fund (2001) 2.5% compared to 2.7%
  • First Reserve Fund XI (2006): -11.6% compared to -16.1%.