Spark Capital VIII

About this data

Employees' Retirement System of the State of Hawaii (HIERS): HIERS Private Equity Partnerships: Performance Summary by Investment, as of March 31, 2026. ERS posts a quarterly "Performance Summary by Investment" of its private equity partnerships in which only "Capital Committed", "Paid-In Capital" and "Reported Market Value" (with the date of that value) are filled in; the Capital Distributed, Remaining Cost, Net IRR and TVM columns are empty in the published version. So committed, paid-in and market value are shown, in whole US dollars as printed, and distributed, total value, IRR, TVPI and DPI are blank; nothing is derived or estimated. The report says paid-in capital includes both commitment and non-commitment reducing capital calls, that cash flows are HIERS' actual cash paid and received, and that market values reflect HIERS' unrealized interest in each investment. "Vintage Year" is as printed. All 371 investments are included as ERS classifies them by strategy (61 Buyout - Large, 42 Buyout - Mega, 59 Buyout - Mid, 13 Buyout - Small, 3 Co/Direct Investment, 6 Distressed Debt, 40 Growth Equity, 10 Mezzanine, 2 Secondaries, 10 Special Situations, 125 Venture Capital), in the report's blocks: Core (334), Stafford Capital Management - 1 (8), Stafford Capital Management - 2 (11), Stafford Capital Management - 3 (17), Stafford Ho'oulu Fund (1); the Stafford Capital Management blocks list the partnerships held through the Hawaii Targeted Investment Program funds (HiTIP I, II and III) that ERS's Holdings page also reports separately. They add up to the printed Grand Total of $8,371,769,464 committed, $6,707,086,129 paid in and $5,197,639,074 reported market value. 114 investments have no remaining value (liquidated, or not yet called), shown as 0; 9 others carry a value dated before the report date. Each page of the report carries the legend "Institutional Use Only/Not for Public Use | Proprietary and Confidential"; this is the version ERS itself posts on its Holdings page. ERS's separate private credit, real assets and timber reports are not imported. View source

Los Angeles City Employees' Retirement System (LACERS): LACERS Private Equity Portfolio Performance Report, as of December 31, 2025. "Net IRR" and "Net TVPI" as printed in the fund-by-fund appendix of the Private Equity Portfolio Performance Report that LACERS posts semiannually (prepared on its private equity consultant's template; the cover gives www.aksia.com). The report defines TVPI as (cumulative distributions + fair market value) / cumulative contributions and labels IRRs of investments held less than two years "n.m."; 27 funds have no IRR (n.m., or "-" in the report) and 14 have no multiple ("-", mostly commitments with nothing contributed yet), all shown as blank. Dollar amounts are whole US dollars as reported (inception-to-date contributions and distributions). Total value = distributions + fair market value, and DPI = distributions / contributions, are computed. All 408 partnerships in the report are included: 305 active and 103 liquidated (no remaining fair market value), of which 23 are in LACERS' Specialized Portfolio and the rest in its Core Portfolio. LACERS counts 36 Credit/Distressed and 15 Natural Resources (energy) partnerships as private equity in this report, alongside buyout, growth equity, venture capital, secondaries, co-investment and fund-of-funds vehicles; its separate private credit and real estate reports are not imported. View source

Orange County Employees Retirement System (OCERS): OCERS Private Equity Portfolio Summary, as of December 31, 2025. "Net IRR" and "TVPI" as printed in the "Portfolio Summary by Status" of the quarterly OCERS - Private Equity Portfolio Report that OCERS posts on its website (the report's legend names Aksia LLC as its source). The report gives every amount in $ millions to one decimal; they are converted to whole dollars here, so each is rounded to the nearest $100,000: Total Commitment, Contributions and Distributions. Total value = Distributions + NAV is computed; DPI is left blank because amounts rounded to $0.1 million do not give a reliable ratio for small funds. Vintage is the report's "Vintage Year". The report marks the IRR of investments held less than 24 months "n.m." (not meaningful); 64 funds have no IRR (n.m., or "-" for commitments with nothing contributed yet) and 17 have no TVPI, all shown as blank. 12 funds' values are marked by the report as adjusted for contributions and distributions since the last valuation, which is before the report date. All 237 funds in the report are included: 211 active and 26 liquidated (no remaining NAV), adding up to the report's printed totals of $6.90 billion committed, $5.09 billion contributed and $5.39 billion NAV. OCERS's private equity portfolio as it reports it includes funds of funds, secondaries, co-investments and a few private credit funds; its separate Real Assets and Real Estate summaries are not imported. View source

Alaska Permanent Fund Corporation (APFC): APFC Private Equity Report: Private Equity Fund Commitments & Direct Investments / Co-Investments, as of December 31, 2025. APFC's quarterly Private Equity report ("Private Equity Fund Commitments & Direct Investments / Co-Investments") lists each fund with only its currency, "Vintage Year" and "Commitment (USD)", shown here in whole US dollars as printed. It reports no contributions, distributions, market value, multiple or IRR per fund, so paid-in, distributed, total value, IRR, TVPI and DPI are blank; nothing is derived or estimated. All 454 entries of the report's "Fund Investments" list are included ($17,570,561,197 committed); 15 have the vintage year "TBD" (blank here) and 45 are commitments in another currency that APFC states in US dollars. The report's separate "Direct Investments / Co-Investments" list (56 entries, $2,792,151,600: portfolio companies, co-investment vehicles and manager stakes) is not imported. The two lists add up to the report's printed Total Commitments of $20,362,712,795. For the whole portfolio, including liquidated investments, the report prints Cumulative Contributions of $20,951,089,446, Cumulative Distributions of $22,493,801,627 and a Remaining Fair Market Value of $15,555,575,745. APFC is a state-owned corporation that manages the Alaska Permanent Fund, not a pension plan; its separate Private Income report is not imported. View source

Figures are as each LP reports them for its own investment, so they can differ between LPs because of timing, fees, and share class. Not investment advice.