OregonPublicEmployeesRetirementFund

PrivateEquityPortfolio
AsofMarch31,2013
($inmillions)
TotalValue

Vintage
Year

Partnership

1981

KKR1980RelatedFund

1983

KKR1982Fund

1984
1985
1986

KKR1986Fund

$98.3

1987

KKR1987Fund

$726.7

1990

AsiaPacificTrust

$12.8

$13.5

1990

HarbourVestInt'lPEP

$25.0

$25.0

$44.2

$0.0

1.77x

11.1%

1990

Zell/ChilmarkFund

$25.0

$29.1

$63.9

$0.0

2.41x

17.9%

1991

Joseph,Littlejohn&LevyFund

$30.0

$33.2

$86.5

$0.0

2.66x

33.4%

1991

ProvidenceMediaPartners

$50.0

$62.2

$212.3

$0.0

3.65x

35.2%

1991

TCWSpecialCreditsFundIII

$50.0

$50.0

$103.3

$0.0

2.07x

21.7%

1992

CastleHarlanPartnersII

$50.0

$64.1

$107.0

$0.0

1.82x

27.1%

1993

HarbourVestPartnersIVInvestmentProgram

$50.0

$48.0

$161.7

$0.0

3.37x

34.8%

1993

Hicks,Muse,Tate&FurstEquityFundII

$50.0

$62.3

$117.5

$0.3

2.12x

18.8%

1993

KKR1993Fund

$350.0

$433.7

$718.1

$0.0

1.79x

16.7%

1993

TCWSpecialCreditsFundIV

$25.0

$25.8

$50.5

$0.0

1.96x

17.4%

1994

Joseph,Littlejohn&LevyFundII

$50.0

$56.1

$84.5

$0.0

1.52x

7.1%

1994

OlympicVenturePartnersIII

$10.0

$10.2

$22.7

$0.0

2.22x

27.1%

1994

PenmanPrivateEquityandMezzanineFund

$20.2

$20.2

$18.0

$0.0

0.89x

(2.5%)

1994

StoningtonCapitalAppreciation1994Fund

$50.0

$54.3

$47.8

$0.0

0.86x

(1.4%)

1994

TCWSpecialCreditsFundVThePrincipalFund

$50.0

$50.0

$86.8

$0.0

1.74x

14.8%

1994

TPGPartners

$50.0

$51.3

$181.1

$0.0

3.66x

36.3%

1995

DoughtyHansonFundII

$50.0

$46.3

$93.9

$0.0

2.10x

45.6%

1995

HarbourVestInt'lPEPII

$75.0

$73.8

$113.4

$0.0

1.54x

11.9%

1995

OCMOpportunitiesFund

$48.0

$48.0

$78.7

$0.0

1.64x

10.3%

1995

TSGCapitalFundII

$40.0

$39.5

$26.1

$0.0

0.66x

(8.5%)

1996

BCIGrowthIV

$50.0

$53.8

$34.3

$3.8

0.68x

(5.4%)

1996

CanterburyMezzanineCapital

$25.0

$25.0

$31.9

$0.0

1.30x

7.3%

1996

CVCEuropeanEquityPartners

$50.0

$58.5

$142.4

$3.2

2.78x

26.5%

1996

Hicks,Muse,Tate&FurstEquityFundIII

$100.0

$168.2

$158.0

$13.4

1.03x

0.5%

1996

OCMPrincipalOpportunitiesFund

$50.0

$50.0

$72.6

$0.0

1.45x

5.4%

1996

ProvidenceEquityPartners

$75.0

$108.4

$301.3

$0.0

3.32x

78.5%

1996

TCWCrescentMezzaninePartners

$50.0

$59.5

$79.4

$0.0

1.39x

7.9%

1997

CastleHarlanPartnersIII

$100.0

$125.8

$131.7

$0.0

1.05x

1.3%

1997

DoughtyHansonFundIII

$250.0

$266.6

$431.7

$30.8

1.78x

13.2%

1997

ExxelCapitalPartnersV

$75.0

$87.0

$7.7

$0.0

0.05x

N/A

1997

HarbourVestPartnersVInvestmentProgram

$100.0

$98.0

$139.2

$0.0

1.42x

9.3%

1997

HSBCPrivateEquityFundII,Ltd.

1997

KKR1996Fund

1997

OCMOpportunitiesFundII

1997

OlympicVenturePartnersIV

1997

TPGPartnersII

1997

VestarCapitalPartnersIII

1998

AuroraEquityPartnersII

1998

CVCEuropeanEquityPartnersII

1998

FenwayPartnersCapitalFundII

$50.0

1998

HarbourVestInt'lPEPIIIPartnership

$80.0

1998

Hicks,Muse,Tate&FurstEquityFundIV

$200.0

1998

Joseph,Littlejohn&LevyFundIII

$100.0

1998

TCWCrescentMezzaninePartnersII

$100.0

Capital
Commitment

TotalCapital
Contributed

TotalCapital
Distributed

FairMarket
Value

$194.1

$194.1

$666.9

$0.0

3.44x

22.5%

$25.0

$25.8

$85.1

$0.0

3.30x

39.7%

KKR1984Fund

$99.5

$118.5

$510.8

$0.0

4.31x

28.6%

KKRNonFund

$65.0

$65.0

$221.3

$0.0

3.40x

16.8%

$201.8

$918.9

$0.0

7.07x

26.3%

$1,240.2

$2,056.6

$0.0

2.07x

8.8%

$15.9

$0.0

1.18x

2.6%

Multiple

IRR

$50.0

$57.7

$76.6

$0.0

1.53x

8.2%

$800.0

$1,045.0

$1,705.5

$0.0

1.79x

13.2%

$75.0

$75.0

$113.3

$0.0

1.51x

8.4%

$14.0

$14.0

$36.7

$0.0

2.62x

63.9%

$300.0

$327.4

$552.5

$0.0

1.77x

9.9%

$25.0

$24.5

$27.9

$2.1

1.22x

3.7%

$50.0

$55.8

$57.9

$19.1

1.38x

4.5%

$150.0

$174.4

$343.7

$14.2

2.31x

18.8%

$58.4

$62.7

$10.2

1.30x

6.0%

$76.8

$119.9

$0.0

1.56x

10.5%

$249.0

$180.5

$5.4

0.68x

(6.8%)

$109.9

$172.5

$0.0

1.66x

11.2%

$110.6

$154.7

$0.0

1.45x

13.5%

OregonPublicEmployeesRetirementFund
PrivateEquityPortfolio
AsofMarch31,2013
($inmillions)
Capital
Commitment

TotalCapital
Contributed

TotalCapital
Distributed

FairMarket
Value

TotalValue

TSGCapitalFundIII

$75.0

$79.8

$45.3

$0.1

0.53x

WellspringCapitalPartnersII

$50.0

$54.1

$79.5

$0.0

1.52x

20.0%

1999

BCIGrowthV

$75.0

$72.9

$32.7

$3.9

0.49x

(9.4%)

1999

CanterburyMezzanineCapitalII

$50.0

$45.6

$64.1

$0.0

1.42x

11.5%

1999

GreenEquityInvestorsIII

$50.0

$49.4

$104.1

$5.2

2.32x

21.5%

1999

GryphonPartnersII

$50.0

$60.2

$70.3

$6.5

1.41x

6.4%

1999

HarbourVestPartnersVIPartnershipFund

$94.0

$92.8

$95.5

$16.6

1.21x

3.6%

1999

Hicks,Muse,Tate&FurstEuropeFund

1999

KKREuropeanFund

1999

LittlejohnFundII

1999

OCMOpportunitiesFundIII

1999
1999
1999

ProvidenceEquityPartnersIII

1999
1999
2000

2000RiversideCapitalAppreciationFund

Vintage
Year

Partnership

1998
1998

Multiple

IRR

(13.4%)

$99.3

$116.8

$201.2

$3.0

2.04x

21.6%

$400.0

$527.5

$1,082.9

$5.4

2.30x

19.7%

$50.0

$52.3

$76.7

$5.3

1.69x

12.0%

$100.0

$100.0

$148.4

$1.1

1.49x

11.9%

PalamonEuropeanEquity

$50.0

$63.2

$92.5

$26.4

2.11x

13.2%

ParthenonInvestors

$50.0

$59.4

$81.8

$0.0

1.45x

6.5%

$100.0

$106.4

$162.9

$1.6

1.67x

15.9%

ThomasWeiselCapitalPartners

$100.0

$110.8

$64.2

$3.2

0.57x

(9.1%)

VestarCapitalPartnersIV

$100.0

$99.2

$153.4

$19.2

1.75x

13.5%

$50.0

$44.8

$77.4

$11.2

2.03x

20.5%

2000

EndeavourCapitalFundIII

$25.0

$24.5

$67.1

$0.0

2.74x

29.6%

2000

ExxelCapitalPartnersVI

$50.0

$75.8

$21.8

$19.6

0.39x

(10.7%)

2000

FoxPaineCapitalFundII

$50.0

$48.8

$76.2

$16.1

2.16x

19.9%

2000

OlympicVenturePartnersV

$25.0

$25.0

$6.8

$0.0

0.27x

(16.7%)

2000

ProvidenceEquityPartnersIV

$150.0

$215.7

$398.3

$11.2

2.41x

23.9%

2000

SoleraPartners

$50.0

$65.4

$85.4

$39.3

2.75x

10.4%

2000

TPGPartnersIII

$300.0

$284.5

$637.6

$39.7

2.47x

24.3%

2000

VantagePointVenturePartnersIV

$50.0

$50.0

$27.7

$19.8

0.95x

(0.8%)

2001

CVCEuropeanEquityPartnersIII

$150.0

$173.7

$406.8

$33.7

2.85x

41.0%

2001

FirstReserveFundIX

$75.0

$81.2

$231.0

$0.0

3.00x

48.1%

2001

MatlinPattersonGlobalOpportunitiesPartners

$75.0

$77.4

$133.1

$0.0

1.72x

15.9%

2001

NorthwestEmergingVenturesVY2001

$56.8

$58.9

$70.6

$15.5

1.46x

8.1%

2001

OCMPrincipalOpportunitiesFundII

$50.0

$61.3

$97.9

$0.9

1.75x

18.3%

2001

OVPVenturePartnersVI

$40.0

$40.0

$5.6

$9.8

0.39x

(16.1%)

2001

ParthenonInvestorsII

$75.0

$87.3

$115.0

$35.3

1.76x

13.8%

2001

PathwayPrivateEquityFundIIIVY2001

$8.7

$11.6

$15.3

$5.3

1.77x

24.3%

2001

TCWCrescentMezzaninePartnersIII

$75.0

$80.5

$152.5

$5.8

2.53x

31.6%

2002

BDCMOpportunityFund

$50.0

$115.3

$154.1

$35.3

2.65x

22.6%

2002

CastleHarlanPartnersIV

$100.0

$112.1

$133.6

$21.6

1.45x

15.9%

2002

CollerInternationalPartnersIV

$50.0

$44.5

$51.6

$12.4

1.44x

13.8%

2002

KKRMillenniumFund

$1,000.0

$1,308.7

$1,684.1

$545.2

1.90x

16.6%

2002

NorthwestEmergingVenturesVY2002

$19.9

$18.5

$7.6

$7.1

0.80x

(4.0%)

2002

OCMOpportunitiesFundIVb

$75.0

$90.0

$146.4

$0.1

2.26x

46.5%

2002

PathwayPrivateEquityFundIIIVY2002

$21.9

$23.9

$42.6

$5.8

2.02x

18.0%

2002

WellspringCapitalPartnersIII

$75.0

$82.0

$168.6

$1.3

2.19x

26.1%

$75.0

$80.0

$133.4

$17.1

1.98x

17.0%

$100.0

$108.3

$96.0

$102.5

1.87x

12.1%

NorthwestEmergingVenturesVY2003

$39.6

$39.9

$58.0

$20.7

1.97x

18.4%

PathwayPrivateEquityFundIIIVY2003

$29.9

$31.6

$28.3

$11.6

1.26x

6.9%

$300.0

$333.3

$407.4

$177.1

1.90x

15.1%
14.0%

2003

2003RiversideCapitalAppreciationFund

2003

GreenEquityInvestorsIV

2003
2003
2003

TPGPartnersIV

2004

AuroraEquityPartnersIII

2004

ElevationPartners

2004
2004

$50.0

$53.6

$51.3

$32.0

1.59x

$100.0

$94.0

$88.9

$36.2

1.35x

8.4%

EndeavourCapitalFundIV

$50.0

$46.1

$127.1

$26.4

3.34x

28.1%

EssexWoodlandsHealthVenturesFundVI

$25.0

$23.7

$10.4

$13.3

1.00x

(0.1%)

OregonPublicEmployeesRetirementFund
PrivateEquityPortfolio
AsofMarch31,2013
($inmillions)
Vintage
Year

Partnership

2004

FirstReserveFundX

2004

HarbourVestPartners2004DirectFund

2004
2004
2004

NorthwestEmergingVenturesVY2004

$71.6

2004

OakHillCapitalPartnersII

$100.0

2004

OCMOpportunitiesFundV

$50.0

$50.0

TotalCapital
Contributed

TotalCapital
Distributed

$100.0

$100.0

$170.2

$16.9

1.87x

36.2%

$75.0

$75.0

$83.0

$41.8

1.67x

10.4%

LionCapitalFundI

$99.8

$108.5

$185.1

$4.0

1.97x

23.5%

MarkstoneCapitalPartners

$50.0

$47.6

$19.0

$20.7

0.83x

(4.5%)

$67.7

$25.1

$51.9

1.15x

2.3%

$112.0

$114.2

$56.2

1.59x

9.8%

$74.5

$6.9

1.63x

14.3%

2004

OCMPrincipalOpportunitiesFundIII

2004

OregonInvestmentFund

2004

FairMarket
Value

TotalValue

Capital
Commitment

Multiple

IRR

$75.0

$77.3

$94.3

$23.7

1.54x

10.5%

$100.0

$80.2

$17.7

$65.2

1.03x

0.9%

PathwayPrivateEquityFundIIIVY2004

$36.7

$42.0

$25.9

$17.4

1.03x

0.9%

2004

UnionSquareVentures2004

$25.0

$22.3

$113.9

$109.3

10.03x

67.3%

2005

AsiaOpportunityFundII

$100.0

$121.2

$86.8

$78.7

1.59x

6.8%

2005

CVCCapitalPartnersAsiaPacificII

$100.0

$124.3

$61.0

$29.2

0.64x

(9.1%)

2005

CVCEuropeanEquityPartnersIV

$145.5

$152.7

$197.0

$78.4

1.88x

17.7%

2005

DiamondCastlePartnersIV

$100.0

$93.4

$28.0

$79.6

1.16x

3.4%

2005

GraniteVenturesII

$25.0

$23.1

$4.9

$19.6

1.06x

1.8%

2005

KKREuropeanFundII

$500.0

$584.8

$273.2

$416.3

1.20x

3.5%

2005

LittlejohnFundIII

$50.0

$49.8

$74.9

$33.5

2.22x

25.6%

2005

MontaukTriGuardFundIII

$50.0

$45.5

$38.4

$16.2

1.20x

6.1%

2005

NewMountainPartnersII

$50.0

$44.8

$58.7

$21.1

1.89x

12.8%

2005

NorthwestEmergingVenturesVY2005

$62.2

$59.0

$18.6

$56.8

1.28x

4.7%

2005

NorthwestEmergingVenturesIIVY2005

$39.4

$41.7

$20.7

$27.0

1.14x

3.4%

2005

OCMOpportunitiesFundVI

$50.0

$50.0

$59.8

$18.1

1.56x

8.8%

2005

PalamonEuropeanEquityII

$100.0

$114.4

$66.4

$76.0

1.27x

6.4%

2005

ParthenonInvestorsIII

$100.0

$102.1

$38.6

$95.4

1.37x

7.1%

2005

PathwayPrivateEquityFundIIIVY2005

$60.3

$75.1

$62.2

$45.9

1.44x

8.8%

2005

ProvidenceEquityPartnersV

$150.0

$185.2

$149.9

$61.2

1.19x

3.0%

2005

VestarCapitalPartnersVA

$100.0

$103.2

$35.9

$74.2

1.07x

1.6%

2005

WarburgPincusPrivateEquityIX

$200.0

$200.1

$188.6

$145.8

1.67x

10.2%

2006

ApolloInvestmentFundVI

$200.0

$244.7

$135.1

$208.7

1.55x

9.1%

2006

AquilineFinancialServicesFund

$200.0

$205.7

$34.4

$237.1

1.32x

7.4%

2006

BDCMOpportunityFundII

$100.0

$129.7

$56.6

$145.7

1.78x

16.3%

2006

CenterbridgeCapitalPartners

$200.0

$310.3

$312.8

$182.6

1.94x

#N/A

2006

CollerInternationalPartnersV

$100.0

$84.0

$41.3

$62.4

1.24x

7.2%

2006

CourtSquareCapitalPartnersII

$100.0

$94.1

$27.4

$96.9

1.38x

9.1%

2006

EssexWoodlandsHealthVenturesFundVII

$50.0

$48.0

$23.9

$26.2

1.04x

1.1%

2006

FenwayPartnersCapitalFundIII

$50.0

$69.0

$41.2

$22.4

0.89x

(2.7%)

2006

FirstReserveFundXI

$300.0

$340.8

$128.4

$257.4

1.15x

3.8%

2006

FisherLynchCoinvestmentPartnership

$250.0

$273.9

$97.3

$203.4

1.11x

2.4%

2006

FocusVenturesIII

$40.0

$40.0

$7.8

$37.9

1.14x

3.8%

2006

FranciscoPartnersII

$100.0

$95.2

$68.1

$74.2

1.51x

12.2%

2006

IrvingPlaceCapitalPartnersIII

$100.0

$89.3

$13.0

$83.0

1.09x

2.0%

2006

JCFlowersII

$100.0

$106.0

$19.6

$27.3

0.41x

(18.2%)

2006

KKR2006Fund

$1,312.5

$1,329.6

$756.4

$1,047.0

1.37x

7.6%

2006

KSLCapitalPartnersII

$100.0

$112.0

$97.0

$42.1

1.34x

10.8%

2006

MHRInstitutionalPartnersIII

$75.0

$72.6

$38.5

$60.9

1.64x

8.9%

2006

NorthwestEmergingVenturesIIVY2006

$98.5

$98.7

$32.0

$92.2

1.26x

5.5%

2006

OakInvestmentPartnersXII

$75.0

$74.0

$19.4

$67.6

1.17x

4.3%

2006

OCMPrincipalOpportunitiesFundIV

$100.0

$102.0

$51.1

$88.5

1.42x

7.1%

2006

OpusCapitalVenturePartnersV

$50.0

$45.2

$4.5

$42.3

1.03x

1.0%

2006

OVPVenturePartnersVII

$50.0

$47.0

$0.0

$29.4

0.65x

(12.0%)

OregonPublicEmployeesRetirementFund
PrivateEquityPortfolio
AsofMarch31,2013
($inmillions)
TotalValue

Vintage
Year

Partnership

2006

PathwayPrivateEquityFundIIIVY2006

$67.9

$68.6

$14.1

$51.1

0.95x

(1.4%)

2006

RhnePartnersIII

$100.0

$116.2

$72.7

$88.3

1.39x

11.2%

2006

TCWCrescentMezzaninePartnersIV

$100.0

$103.0

$85.2

$41.4

1.27x

5.2%

2006

TechnologyCrossoverVenturesVI

$25.0

$24.8

$28.9

$7.1

1.45x

12.6%

2006

TerraFirmaCapitalPartnersIII

$150.0

$146.5

$3.3

$78.4

0.56x

(15.5%)

2006

TPGPartnersV

$300.0

$308.7

$99.6

$202.4

0.97x

(0.5%)

2006

VantagePointVenturePartners2006

$50.0

$41.0

$2.4

$27.8

0.75x

(9.8%)

2006

WellspringCapitalPartnersIV

$80.0

$81.7

$61.3

$52.2

1.41x

8.5%

2007

AffinityAsiaPacificFundIII

$100.0

$83.8

$25.7

$102.5

1.53x

15.3%

2007

ApaxEuropeVII

$199.5

$198.6

$37.5

$182.1

1.12x

3.1%

2007

AuroraResurgenceFund

$50.0

$39.3

$27.6

$27.0

1.70x

18.2%

2007

GoresCapitalPartnersII

$100.0

$99.8

$68.7

$71.1

1.44x

12.8%

2007

GreenEquityInvestorsV

$200.0

$202.8

$131.5

$166.3

1.50x

17.3%

2007

GSOCapitalOpportunitiesFundI

$100.0

$119.2

$110.1

$67.8

1.45x

19.4%

2007

HarbourVestPartners2007DirectFund

$100.0

$93.8

$20.0

$87.0

1.14x

4.8%

2007

KKR2006CoInvestmentFund

$187.5

$183.5

$158.0

$143.2

1.64x

14.6%

2007

KKRAsianFund

$100.0

$98.0

$21.0

$122.3

1.45x

13.7%

2007

LionCapitalFundII

$203.3

$230.6

$48.3

$147.0

0.82x

(4.6%)

2007

MatlinPattersonGlobalOpportunitiesPartnersIII

$150.0

$164.1

$98.5

$106.7

1.33x

7.8%

2007

NewMountainPartnersIII

$100.0

$101.5

$29.5

$90.9

1.22x

8.6%

2007

NorthwestEmergingVenturesIIVY2007

$126.0

$114.3

$26.5

$118.1

1.28x

7.0%

2007

OakHillCapitalPartnersIII

$300.0

$273.6

$50.6

$266.1

1.19x

5.2%

2007

OCMOpportunitiesFundVII

$50.0

$50.0

$52.2

$16.4

1.37x

8.3%

2007

OregonInvestmentFund1b

$50.0

$21.5

$3.3

$21.7

1.19x

6.5%

2007

ProvidenceEquityPartnersVI

$300.0

$313.0

$98.0

$265.3

1.19x

4.6%

2007

SofinnovaVenturePartnersVII

$25.0

$20.8

$16.0

$18.1

1.64x

18.5%

Capital
Commitment

TotalCapital
Contributed

TotalCapital
Distributed

FairMarket
Value

Multiple

IRR

$75.0

$85.4

$55.7

$58.0

1.42x

11.5%

$100.0

$94.0

$59.0

$81.7

1.54x

13.9%

$50.0

$30.9

$1.8

$32.3

1.11x

4.0%

$100.0

$97.2

$134.5

$99.6

2.49x

34.4%

2007

TailwindCapitalPartners

2007

TPGSTAR

2007

VectorCapitalIV

2007

VistaEquityPartnersFundIII

2007

WarburgPincusPrivateEquityX

$400.0

$391.6

$76.3

$392.9

1.20x

6.1%

2007

WLRRecoveryFundIV

$200.0

$173.3

$74.2

$143.6

1.26x

8.0%

2008

AdventInternationalGlobalPrivateEquityVIA

$100.0

$94.9

$17.8

$117.5

1.43x

16.9%

2008

ApolloInvestmentFundVII

$400.0

$441.3

$318.7

$347.9

1.76x

24.5%

2008

AsiaOpportunityFundIII

$150.0

$108.8

$16.9

$96.7

1.06x

3.4%

2008

AustinVenturesX

$50.0

$40.6

$6.9

$42.7

1.21x

9.2%

2008

AvistaCapitalPartnersII

$100.0

$106.3

$55.5

$90.4

1.50x

19.0%

2008

CastleHarlanPartnersV

$100.0

$56.2

$36.3

$34.5

1.41x

20.5%

2008

CVCCapitalPartnersAsiaPacificIII

$100.0

$87.9

$30.8

$108.9

1.63x

19.9%

2008

CVCEuropeanEquityPartnersV

$291.2

$191.1

$76.9

$153.2

1.22x

8.6%

2008

EndeavourCapitalFundV

$65.0

$50.3

$17.9

$41.9

1.18x

6.7%

2008

EssexWoodlandsHealthVenturesFundVIII

$100.0

$74.5

$7.6

$76.3

1.12x

6.2%

2008

FirstReserveFundXII

$300.0

$258.2

$34.7

$250.0

1.11x

3.9%

2008

KKREuropeanFundIII

$442.7

$287.1

$0.0

$300.5

1.06x

2.0%

2008

MontaukTriGuardFundIV

$75.0

$53.3

$28.5

$47.1

1.39x

17.3%

2008

NorthwestEmergingVenturesIIVY2008

$36.0

$28.0

$9.5

$30.5

1.40x

14.3%

2008

NorthwestEmergingVenturesIIIVY2008

$42.4

$37.9

$9.7

$43.1

1.39x

14.7%

2008

OCMOpportunitiesFundVIIb

$100.0

$90.0

$117.3

$39.2

1.74x

18.5%

2008

PathwayPrivateEquityFundIIIBVY2008

$19.9

$15.7

$0.4

$21.3

1.39x

18.2%

2008

PineBrookCapitalPartners

$100.0

$84.7

$39.1

$77.8

1.44x

16.5%

2008

RiversideCapitalAppreciationFundV

$100.0

$83.1

$22.3

$77.4

1.20x

8.7%

OregonPublicEmployeesRetirementFund
PrivateEquityPortfolio
AsofMarch31,2013
($inmillions)
FairMarket
Value

TotalValue

$32.5

$69.8

1.22x

8.2%

$81.0

$153.0

1.28x

10.4%
11.1%

Vintage
Year

Partnership

2008

Riverstone/CarlyleRAEFundII

$100.0

$85.5

2008

TCWCrescentMezzaninePartnersV

$200.0

$189.4

2008

TechnologyCrossoverVenturesVII

2008

TPGPartnersVI

2008

UnionSquareVentures2008

2008

VantagePointCleanTechPartnersII

$50.0

$40.5

$0.0

2009

KKRE2InvestorsL.P.(Euro2AnnexFund)

$57.3

$26.9

$0.0

2009

KSLCapitalPartnersSupplementalII

$50.0

$21.4

$16.1

2009

NorthwestEmergingVenturesIIIVY2009

$69.1

$49.3

2009

OaktreeOpportunitiesFundVIII

$50.0

2009

OaktreePrincipalFundV

$100.0

Capital
Commitment

TotalCapital
Contributed

TotalCapital
Distributed

Multiple

IRR

$75.0

$65.3

$11.4

$69.7

1.24x

$750.0

$578.7

$123.8

$569.9

1.22x

9.3%

$25.0

$21.8

$0.0

$41.9

1.93x

30.8%

$26.3

0.65x

(17.0%)

$49.0

1.82x

23.2%

$16.6

1.52x

17.7%

$5.0

$51.3

1.14x

7.3%

$50.0

$11.4

$52.7

1.28x

11.8%

$74.0

$16.3

$70.4

1.18x

8.4%

2009

PathwayPrivateEquityFundIIIBVY2009

$32.0

$22.1

$2.3

$25.2

1.24x

13.7%

2009

RiversideEuropeFundIV

$50.0

$44.6

$0.0

$43.3

0.97x

(1.7%)

2010

CadenceBancorpLLC(fkaCommunityBancorp)

$100.0

$92.5

$0.0

$92.5

1.00x

NM

2010

GoresCapitalPartnersIII

$100.0

$60.7

$4.4

$52.2

0.92x

NM

2010

HamiltonLaneSMIDFund

$300.0

$89.7

$16.4

$84.6

1.12x

NM

2010

LionCapitalFundIII

$100.0

$59.5

$6.4

$59.8

1.13x

NM

2010

LittlejohnFundIV

$100.0

$61.1

$1.0

$72.1

1.18x

NM

2010

NorthwestEmergingVenturesIIIVY2010

$114.4

$65.7

$4.4

$62.3

1.01x

NM

2010

OakInvestmentPartnersXIII

$75.0

$38.8

$8.2

$36.2

1.13x

NM

2010

OrbiMedPrivateInvestmentsIV(fkaCaduceusIV)

$40.0

$23.2

$2.2

$24.6

1.15x

NM

2010

PathwayPrivateEquityFundIIIBVY2010

$39.7

$26.4

$1.3

$27.9

1.11x

NM

2010

UnionSquareVenturesOpportunityFund

$25.0

$13.1

$8.5

$19.7

2.04x

NM

2010

VeritasCapitalFundIV

$100.0

$54.4

$0.0

$73.2

1.34x

NM

2011

AquilineFinancialServicesFundII

$100.0

$37.5

$0.0

$39.8

1.03x

NM

2011

BaringAsiaPrivateEquityFundV

$80.0

$29.2

$0.0

$29.8

0.99x

NM

2011

BDCMOpportunityFundIII

$100.0

$45.3

$19.0

$30.3

1.08x

NM

2011

BlackstoneCapitalPartnersVI

$200.0

$49.8

$0.6

$53.1

1.07x

NM

2011

CenterbridgeCapitalPartnersII

$100.0

$44.9

$5.3

$45.9

1.16x

NM

2011

EndeavourCapitalFundVI

$95.0

$34.6

$0.0

$32.4

0.95x

NM

2011

FisherLynchCoInvestmentPartnershipII

$500.0

$188.9

$10.8

$192.6

1.07x

NM

2011

FranciscoPartnersIII

$100.0

$39.8

$0.0

$38.2

0.95x

NM
NM

2011

GSOCapitalOpportunitiesFundII

$100.0

$27.2

$13.9

$20.5

1.02x

2011

KSLCapitalPartnersIII

$100.0

$36.8

$8.6

$27.1

0.96x

NM

2011

MontaukTriGuardFundV

$75.0

$23.3

$2.0

$25.9

1.20x

NM

2011

NorthwestEmergingVenturesIIIVY2011

2011

OaktreeEuropeanPrincipalFundIII

$174.0

$70.6

$2.3

$62.3

0.91x

NM

$50.0

$20.0

$0.0

$20.3

1.02x

NM

2011

OaktreeOpportunitiesFundVIIIb

$50.0

$40.0

$0.0

$43.9

1.09x

NM

2011

OHAEuropeanStrategicCreditFund

$50.0

$14.0

$0.1

$15.5

1.08x

NM

2011

OpusCapitalVenturePartnersVI

$33.5

$8.8

$0.0

$7.0

0.79x

NM

2011

PathwayPrivateEquityFundIIIBVY2011

$67.8

$24.5

$2.1

$19.8

0.89x

NM

2011

RhnePartnersIV

$75.0

$6.5

$4.6

$1.8

0.57x

NM

2011

SofinnovaVenturePartnersVIII

$50.0

$11.0

$0.0

$10.5

0.95x

NM

2011

TPGGrowthII

$75.0

$13.1

$0.9

$10.2

0.85x

NM

2011

UnionSquareVentures2012

$25.0

$7.6

$2.2

$6.8

1.16x

NM

2011

VistaEquityPartnersFundIV

$100.0

$36.6

$1.2

$36.4

0.77x

NM

2011

WellspringCapitalPartnersV

$100.0

$26.4

$0.0

$23.4

1.08x

NM

2011

WLRRecoveryFundV

$100.0

$55.6

$10.7

$53.5

1.18x

NM

2012

AdventInternationalGPEVIIC

$50.0

$10.8

$0.0

$10.3

0.95x

NM

2012

ApaxVIIIB

$150.4

$9.0

$0.0

$8.6

0.97x

NM

2012

AvistaCapitalPartnersIII

$100.0

$42.9

$0.0

$52.4

1.24x

NM

OregonPublicEmployeesRetirementFund
PrivateEquityPortfolio
AsofMarch31,2013
($inmillions)
Vintage
Year

Partnership

2012

CapitalInternationalPrivateEquityFundVI

2012

CinvenFifthFund

2012
2012

Capital
Commitment

TotalCapital
Contributed

$100.0
$75.0

CollerInternationalPartnersVI
CourtSquareCapitalPartnersIII

2012

CrescentMezzaninePartnersVI

2012

GGVCapitalIV

2012

GreenEquityInvestorsVI

2012

KKRNorthAmericanFundXI

2012

ParthenonInvestorsIV

2012
2012
2012
2013

TotalValue

TotalCapital
Distributed

FairMarket
Value

$18.6

$0.4

$15.0

0.84x

NM

$4.0

$0.0

$2.9

0.83x

NM

$100.0

$26.2

$1.2

$31.2

1.24x

NM

$75.0

$12.0

$0.2

$11.5

0.96x

NM

$75.0

$14.3

$2.3

$5.1

0.50x

NM

$50.0

$17.8

$0.1

$16.0

0.90x

NM

$150.0

$14.4

$0.4

$13.5

0.96x

NM

$500.0

$37.8

$0.0

$39.1

1.04x

NM

$75.0

$7.3

$0.0

$5.4

0.85x

NM

PathwayPrivateEquityFundIIIBVY2012

$104.7

$16.9

$0.0

$13.0

0.77x

NM

ProvidenceEquityPartnersVII

$150.0

$8.4

$0.0

$8.8

1.05x

NM

VestarCapitalPartnersVI

$75.0

$1.7

$0.0

$0.0

N/A

N/A

CDHFundV

$75.0

$0.0

$0.0

$0.0

N/A

N/A

2013

HarbourVestPartners2012DirectFund

$75.0

$0.0

$0.0

$0.0

N/A

N/A

2013

KKRAsianFundII

$200.0

$0.0

$0.0

$0.0

N/A

N/A

2013

MayfieldXIV

$25.0

$0.0

$0.0

$0.0

N/A

N/A

2013

NordicCapitalVIII

$75.0

$0.0

$0.0

$0.0

N/A

N/A

2013

PineBrookCapitalPartnersII

$75.0

$7.0

$0.0

$6.4

N/A

N/A

2013

RRJCapitalMasterFundII

$75.0

$0.0

$0.0

$0.0

N/A

N/A

$31,570.5

$28,753.0

$28,071.7

$14,759.1

1.56x

15.8%

Totals:

Multiple

IRR

1
Total Value Multiple is calculated net of recallable return of capital ("ROC"). In practice, both total distributions and contributions are reduced by the amount of recallable ROC in the numerator and denominator of the
calculation, respectively.
2

Investments held less than three years generally have IRRs that are not meaningful, and are therefore labeled NM.

Warning: Due to a number of factors, including most importantly a lack of valuation standards in the private equity industry, differences in the pace of investments across partnerships and the understatement of returns
in the early years of a partnership's life, the IRR information in this report DOES NOT accurately reflect the current or expected future returns of the partnership. The IRRs SHOULD NOT be used to assess the
investment success of a partnership or to compare returns across partnerships. The IRRs in this report HAVE NOT been approved by the individual general partners of the partnerships.