Tiger Global PIP XVI
Tiger Global Management Vintage 2023 Reported by CalSTRS
What each LP reports
| LP | As of | Committed | Paid in | Distributed | Remaining value | Net IRR | TVPI | DPI | Paid in vs. value |
|---|---|---|---|---|---|---|---|---|---|
| CalSTRS | 2025-06-30 | $50M | $25M | $0M | $26M | 5.6% | 1.06x | 0.00x |
Paid in Distributed Remaining value
2023 vintage in CalSTRS’s portfolio
All 18 funds of vintage 2023 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.
| # | Fund | Net IRR | TVPI | DPI |
|---|---|---|---|---|
| 1 | Bain Capital Asia Fund V | 36.4% | 1.33x | 0.12x |
| 2 | Valor Equity Partners VI, L.P. | 34.0% | 1.49x | 0.00x |
| 3 | Reverence Cap PTR Op Fd V (PE Fd III) | 29.2% | 1.37x | 0.03x |
| 4 | Bain Capital Europe Fund VI, SCSp | 24.1% | 1.24x | 0.00x |
| 5 | TPG Partners IX, L.P. | 22.7% | 1.20x | 0.01x |
| 6 | Blackstone Tac Ops III S LP | 19.4% | 1.19x | 0.13x |
| 7 | Apollo Investment Fund X L.P. | 19.1% | 1.19x | 0.20x |
| 8 | Permira VIII 1 SCSp | 17.4% | 1.26x | 0.03x |
| 9 | BVP Forge Institutional L.P. | 17.2% | 1.29x | 0.00x |
| 10 | Riverwood Capital Partners IV | 16.7% | 1.12x | 0.00x |
| 11 | Francisco Partners VII A L.P. | 13.7% | 1.07x | 0.00x |
| 12 | JMI Equity Fund XI A L.P. | 13.6% | 1.14x | 0.00x |
| 13 | Tiger Iron Redwood Fund II LP | 10.4% | 1.06x | 0.00x |
| 14 | Tiger Global PIP XVI LP | 5.6% | 1.06x | 0.00x |
| 15 | BCP Tac Ops III S (Surge) LP | 0.0% | 0.00x | 0.00x |
| 16 | M2 PE Fund Of Funds IV, L.P. | -0.3% | 1.00x | 0.01x |
| 17 | VIP V LP | -4.1% | 0.97x | 0.11x |
| 18 | CalSTRS Lower Mid Market VII | -12.0% | 0.89x | 0.00x |
Other reported funds by this firm
| Fund | Vintage | Net IRR | TVPI | Versus vintage |
|---|---|---|---|---|
| Tiger Global Private Investment Partners XV | 2022 | -5.2% | 0.80x | Bottom quartile |
| Tiger Global PIP XV | 2021 | -7.6% | 0.78x | Bottom 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.