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Calstrs Private Equity Portfolio Performance

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Calstrs Private Equity Portfolio Performance California State Teachers' Retirement System Private Equity Portfolio Performance As of September 30, 2020 CalSTRS Since Capital Capital Capital Inception Description VY Committed Contributed Distributed IRR* ACON Equity Partners 3.5, L.P. 2012 70,000,000 66,554,508 22,297,157 3.95 ACON Equity Partners IV, LP 2016 50,000,000 34,796,408 2,903,730 2.05 Acon-Bastion Partners II, L.P. 2006 40,000,000 37,183,693 63,682,857 12.20 Advent Central & Eastern Europe IV LP 2008 99,378,679 78,087,390 48,559,263 (9.64) Advent Global Technology L.P. 2020 100,000,000 36,999,998 - (5.89) Advent International GPE IX, L.P. 2019 300,000,000 105,750,002 - 37.34 Advent International GPE VI LP 2008 271,014,851 271,014,851 509,613,730 15.61 Advent International GPE VIII-D L.P. 2016 150,000,000 142,349,999 - 19.01 Advent LatAm PE Fund VII SCSP 2020 150,000,000 - - 0.00 Affinity Asia Pacific Fund III, L.P. 2007 150,000,000 143,609,847 199,879,655 9.14 Affinity Asia Pacific Fund V (NO.2) L.P. 2018 200,000,000 41,463,270 357,594 (3.25) AG Capital Recovery Partners VI, L.P. 2008 100,000,000 100,000,000 142,315,064 7.42 AG Capital Recovery Partners VII, L.P. 2010 164,208,774 164,208,982 201,626,611 5.11 Alchemy Plan (Estrellita) L.P. 2002 259,509,125 259,515,793 303,967,690 3.56 Alchemy Special Opportunities Fund III 2014 54,833,427 48,134,080 5,715,068 2.45 Alchemy Special Opportunities Fund IV L.P. 2019 87,424,916 8,890,368 - (55.05) AlpInvest C Fund, L.P. 2018 725,000,000 515,971,009 90,896,458 21.63 AlpInvest Co-Investment Fund (Onshore) VII, L.P. 2017 150,000,000 108,800,769 2,612,143 10.38 Alta Communications IX, L.P. 2003 40,000,000 38,000,000 29,422,492 (2.61) Alta V Limited Partnership 1992 20,000,000 20,000,000 45,540,989 24.53 Apax Europe VI - A, L.P. 2005 314,586,952 308,387,209 565,749,634 12.63 Apax Europe VII 2007 523,841,849 518,532,420 656,871,733 4.34 Apax IX USD L.P. 2017 300,000,000 277,224,978 7,888,808 26.03 Apax X USD L.P. 2020 250,000,000 - - 0.00 Apollo Hybrid Value Fund II LP 2020 250,000,000 - - 0.00 Apollo Investment Fund IX, L.P. 2019 300,000,000 79,308,519 6,579,931 (0.86) Apollo Investment Fund VI, L.P. 2006 250,000,000 239,549,952 399,272,363 8.62 Apollo Investment Fund VII, L.P. 2008 350,000,000 307,938,480 561,351,455 22.16 ARCH Venture Fund VI, L.P. 2004 30,000,000 30,005,018 27,758,935 2.08 Ares Capital Europe II (D), L.P. 2013 50,000,000 41,996,546 39,435,595 7.30 Ares Corporate Opportunities Fund IV, L.P. 2012 150,000,000 135,593,364 139,060,750 14.15 Ares Corporate Opportunities Fund V, L.P. 2017 300,000,000 277,416,050 40,376,514 (4.12) Ares Corporate Opportunities VI, L.P. 2020 200,000,000 - - 0.00 Ares Special Opportunities Fund, L.P. 2020 50,000,000 20,924,615 84,845 17.46 Arsenal Capital Partners IV 2016 83,000,000 78,132,592 34,670,058 15.14 Arsenal Capital Partners V, L.P. 2019 135,000,000 63,263,778 74,979 6.01 Ascent Capital Holdings, LLC 2007 60,000,000 60,618,407 14,292,535 (9.12) ASF VII B L.P. 2015 250,000,000 142,011,092 28,619,123 11.14 ASF VIII B L.P. 2018 500,000,000 90,350,720 211,809 32.17 Asper Renewable Power Partners 2 A L.P. 2010 61,906,436 51,477,759 41,031,540 (3.10) Asper Renewable Power Partners L.P. 2006 60,861,897 59,375,843 46,772,548 (4.35) Atria Private Equity Fund III FC PR 2007 39,799,496 26,611,155 16,794,155 (7.00) Bain Capital Asia Fund II, LP 2012 75,000,000 59,712,664 85,107,252 19.84 Bain Capital Asia Fund III, L.P. 2016 125,000,000 125,923,321 55,979,409 27.26 Bain Capital Fund IX, L.P. 2006 100,000,000 97,518,750 142,253,308 6.18 Bain Capital Fund X, LP 2008 400,000,000 391,980,374 584,480,795 9.50 Bain Capital IX Coinvestment Fund, LP 2006 50,000,000 49,400,000 81,017,194 9.52 BC European Capital IX 2011 259,760,436 272,622,038 271,076,832 14.44 BC European Capital VIII, L.P. 2005 606,664,874 584,500,303 712,745,166 4.41 BC European Capital X-8 LP 2017 286,139,377 242,363,876 4,703,831 14.01 BC Partners VII, L.P. 2000 323,079,349 323,203,189 822,215,324 23.92 Blackstone - GSO Capital Solutions LP 2009 250,000,000 233,605,361 310,158,172 9.42 Blackstone Capital Partners IV, L.P. 2003 200,000,000 182,943,137 512,261,352 35.96 Blackstone Capital Partners V L.P. 2006 1,600,000,000 1,580,196,681 2,602,337,956 8.24 Blackstone Capital Partners VI, L.P. 2011 300,000,000 287,223,476 293,294,403 12.26 * The limited partnership record keeping, including the internal rate of return or IRR, is maintained internally by CalSTRS for each limited partnership. The CalSTRS’ IRR calculation method may differ from calculation methods used by the General Partner or other Limited Partners. Differences in IRR calculations can be affected by cash flow timing, the account treatment of carried interest, partnership management fees, advisory fees, organization fees, other partnership expenses, sale of distributed stock and valuations. Importantly, there is no industry-standardized method for valuation or reporting, which makes comparisons of these numbers difficult. Additionally, the purchase of secondary interests makes for unique comparison problems due to the specific pricing and timing characteristics of the transaction when contrasted with the Limited Partnership Investment. Until a partnership is liquidated, typically over 10 to 12 years, the IRR is only an interim estimated return. The IRR calculated for partnerships in the first three years of a partnership life are particularly not meaningful. The actual IRR performance of any limited partnership is not known until the final liquidation. Finally, please note, none of the information contained herein has been reviewed or approved by the General Partners of the Funds. California State Teachers' Retirement System Private Equity Portfolio Performance As of September 30, 2020 CalSTRS Since Capital Capital Capital Inception Description VY Committed Contributed Distributed IRR* Blackstone Capital Partners VII L.P. 2016 450,000,000 433,889,715 40,993,688 12.31 Blackstone Capital Partners VIII L.P. 2020 750,000,000 - - 0.00 Blackstone Communications Partners I, LP 2000 250,000,000 250,293,431 310,940,617 6.51 Blackstone Core Equity Partners CA - L.P. 2017 500,000,000 399,894,475 43,045,008 17.28 Blackstone Core Equity Partners II LP 2020 425,000,000 - - 0.00 Blackstone Energy Partners II L.P. 2015 100,000,000 104,978,769 6,413,716 (12.33) Blackstone Energy Partners III L.P. 2020 250,000,000 32,100,660 1,082 (36.06) Blackstone Life Sciences V LP 2020 145,000,000 6,722,807 - (6.17) Blackstone Tactical Opportunities Fund - S L.P. 2017 250,000,000 227,572,469 127,584,375 8.74 Blackstone Tactical Opportunities Fund II-S (Surge) L.P. 2019 125,000,000 40,417,422 - 3.59 Blackstone Tactical Opportunities Fund II-S L.P. 2018 375,000,000 123,290,000 4,455,233 11.75 Blue Run Ventures IV, L.P. 2008 23,595,506 23,595,505 50,814,878 23.28 Blue Run Ventures V, LP 2014 19,005,882 18,055,588 - (2.13) Blue Run Ventures, L.P. 2005 31,415,730 31,181,573 41,273,872 5.18 BRV Opportunities Fund, L.P. 2015 2,710,843 2,548,192 282,015 (3.17) BRV VI, L.P. 2017 19,156,626 8,620,481 - 2.49 CalSTRS California Impact Fund, LLC 2003 75,000,000 63,363,119 56,691,279 (0.70) CalSTRS Lower Middle Market Fund III, LLC 2007 200,000,000 180,258,012 230,108,097 8.15 CalSTRS Lower Middle Market Fund IV, LLC 2011 200,000,000 173,819,362 175,610,508 13.55 CalSTRS Lower Middle Market Fund V, L.P. 2014 100,000,000 84,520,394 30,275,933 16.39 CalSTRS Lower Middle Market Fund VI, L.P. 2018 250,000,000 50,000,000 - 0.58 CalSTRS New&Next Gen. Manager Fund II 2008 200,000,000 134,286,950 139,950,499 9.18 CalSTRS New&Next Gen. Manager Fund III 2012 250,000,000 169,148,651 37,326,734 10.66 CalSTRS New&Next Generation Manager Fund 2005 100,000,000 75,017,168 128,615,372 8.59 CalSTRS New&Next Generation Manager Fund IV, L.P.
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