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Tiger Global PIP XV

Tiger Global Management Vintage 2021 Reported by CalSTRS

Net IRR-7.6%CalSTRS, as of June 30, 2025
TVPI0.78xTotal value / paid-in
DPI0.00xDistributions / paid-in
Versus vintageQ4Bottom quartile · #48 of 49

What each LP reports

LPAs ofCommittedPaid inDistributedRemaining valueNet IRRTVPIDPIPaid in vs. value
CalSTRS2025-06-30$100M$95M$0M$74M-7.6%0.78x0.00x

Paid in Distributed Remaining value

2021 vintage in CalSTRS’s portfolio

All 50 funds of vintage 2021 in CalSTRS’s report, ranked by net IRR. Private equity, venture, and other strategies are mixed, so treat this as context rather than a strategy benchmark.

Tenex Capital Partners III, L.P.: 56.9%HF Samson Brunello (TeamSystem): 36.2%Peak Rock Capital Fund III: 28.2%Hg Mercury 3 A L.P.: 23.7%KKR Asian Fund IV SCSp: 19.2%Valor Equity Partners V, L.P.: 18.0%AlpInvest C Fund II LP: 17.6%Hg Genesis 9 A L.P.: 16.3%RRJ Capital Master Fund IV, L.P.: 16.1%Centerbridge Capital Prtnrs IV: 16.0%The Resolute Fund V, L.P.: 15.8%Summit Ptrs Reinvestment Fund: 15.8%Summit Partners Europe GE III: 15.5%IVP XVII L.P.: 14.9%ICG Strategic Equity Fund IV: 14.6%TPG Growth V L.P.: 14.5%Francisco Partners VI, L.P.: 14.1%Blackstone Core Equity Partners II LP: 14.1%JMI Equity Fund X A L.P.: 13.7%CalSTRS New&Next Gen Manager V: 13.2%Thoma Bravo Discover Fund III, L.P.: 11.4%Apollo Hybrid Value Fund II LP: 11.2%AlpInvest Co-Investment Fund (Onshore) VIII, L.P.: 11.1%MBK Partners Fund V, L.P.: 10.7%Blackstone Capital Partners VIII L.P.: 10.4%CVC Capital Partners VIII (A) L.P.: 9.8%LAV Fund VI, L.P.: 9.8%GI Partners Fund VI LP: 9.5%Oak HC FT Partners IV LP: 9.3%BC Partners XI GE 2 LP: 8.8%Tiger Iron Redwood Fund L.P.: 8.8%Peak Rock Real Estate Fund I: 7.9%TA XIV A, LP: 7.9%Advent LatAm PE Fund VII SCSP: 7.4%GGV Discovery III, LP: 7.0%Thoma Bravo Fund XIV: 6.8%TCV XI, L.P.: 6.6%Hellman & Friedman Partners X: 6.0%Summit Partners VC Fd V-A L.P.: 5.3%Clayton Dubilier Rice XI LP: 4.8%GGV Capital VIII Plus, LP: 3.7%LAV Fund VI Opportunities, L.P.: 3.4%TA Select Opps Fund II A, L.P.: 2.5%GGV Capital VIII, LP: 2.0%Spectrum Select Opps A L.P.: -0.3%Capital Partners V, L.P.: -1.0%Spectrum IX-A Discretionary Overage Progam II: -1.2%Tiger Global PIP XV L.P.: -7.6%FountainVest Partners Fund IV: -10.3%-10.3%56.9%
#FundNet IRRTVPIDPI
1Tenex Capital Partners III, L.P.56.9%1.65x0.62x
2HF Samson Brunello (TeamSystem)36.2%3.53x0.67x
3Peak Rock Capital Fund III28.2%1.65x0.31x
4Hg Mercury 3 A L.P.23.7%1.66x0.52x
5KKR Asian Fund IV SCSp19.2%1.54x0.20x
6Valor Equity Partners V, L.P.18.0%1.86x0.06x
7AlpInvest C Fund II LP17.6%1.47x0.07x
8Hg Genesis 9 A L.P.16.3%1.55x0.41x
9RRJ Capital Master Fund IV, L.P.16.1%1.19x0.48x
10Centerbridge Capital Prtnrs IV16.0%1.37x0.26x
11The Resolute Fund V, L.P.15.8%1.55x0.08x
12Summit Ptrs Reinvestment Fund15.8%1.39x0.98x
13Summit Partners Europe GE III15.5%1.47x0.24x
14IVP XVII L.P.14.9%1.51x0.00x
15ICG Strategic Equity Fund IV14.6%1.35x0.28x
16TPG Growth V L.P.14.5%1.42x0.21x
17Francisco Partners VI, L.P.14.1%1.46x0.17x
18Blackstone Core Equity Partners II LP14.1%1.40x0.12x
19JMI Equity Fund X A L.P.13.7%1.46x0.10x
20CalSTRS New&Next Gen Manager V13.2%1.29x0.00x
21Thoma Bravo Discover Fund III, L.P.11.4%1.47x0.05x
22Apollo Hybrid Value Fund II LP11.2%1.22x0.20x
23AlpInvest Co-Investment Fund (Onshore) VIII, L.P.11.1%1.32x0.01x
24MBK Partners Fund V, L.P.10.7%1.26x0.03x
25Blackstone Capital Partners VIII L.P.10.4%1.28x0.21x
26CVC Capital Partners VIII (A) L.P.9.8%1.24x0.02x
27LAV Fund VI, L.P.9.8%1.28x0.30x
28GI Partners Fund VI LP9.5%1.30x0.00x
29Oak HC FT Partners IV LP9.3%1.33x0.00x
30BC Partners XI GE 2 LP8.8%1.23x0.10x
31Tiger Iron Redwood Fund L.P.8.8%1.20x0.00x
32Peak Rock Real Estate Fund I7.9%1.13x0.75x
33TA XIV A, LP7.9%1.20x0.08x
34Advent LatAm PE Fund VII SCSP7.4%1.19x0.22x
35GGV Discovery III, LP7.0%1.21x0.10x
36Thoma Bravo Fund XIV6.8%1.25x0.32x
37TCV XI, L.P.6.6%1.19x0.00x
38Hellman & Friedman Partners X6.0%1.16x0.14x
39Summit Partners VC Fd V-A L.P.5.3%1.12x0.05x
40Clayton Dubilier Rice XI LP4.8%1.14x0.03x
41GGV Capital VIII Plus, LP3.7%1.10x0.00x
42LAV Fund VI Opportunities, L.P.3.4%1.11x0.15x
43TA Select Opps Fund II A, L.P.2.5%1.05x0.00x
44GGV Capital VIII, LP2.0%1.06x0.00x
45Spectrum Select Opps A L.P.-0.3%0.99x0.00x
46Capital Partners V, L.P.-1.0%0.97x0.00x
47Spectrum IX-A Discretionary Overage Progam II-1.2%0.96x0.05x
48Tiger Global PIP XV L.P.-7.6%0.78x0.00x
49FountainVest Partners Fund IV-10.3%0.76x0.00x
—Peak Rock Strat Partners WestN/M——

Other reported funds by this firm

FundVintageNet IRRTVPIVersus vintage
Tiger Global PIP XVI20235.6%1.06xBottom quartile
Tiger Global Private Investment Partners XV2022-5.2%0.80xBottom quartile

About this data

CalSTRS: CalSTRS Private Equity Portfolio Performance, as of June 30, 2025. Since-inception IRR as calculated by CalSTRS from its own cash flows with each partnership; CalSTRS does not label it net or gross; because it is computed from CalSTRS's own contributions and distributions, it is after the partnership's fees and carried interest. CalSTRS says IRRs in a partnership's first three years are not meaningful. CalSTRS reports no multiple: TVPI = (distributed + market value) / contributed and DPI = distributed / contributed are computed. IRR is blank for commitments with no capital contributed. 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.