← First Reserve
First Reserve Fund XII, L.P.
First ReserveVINTAGE 2008
NET IRR
-18.0%
TVPI
0.52x
DPI
0.52x
COMMITMENT
$150M
LP SOURCES
43
VALUATION SPREAD0.48x – 0.55x TVPI across 5 sources
SEC REGISTRATION · FORM ADV SCHEDULE D
SEC IAPD ↗GROSS ASSET VALUE
$8.7B
MIN INVESTMENT
$10.0M
INVESTORS
181
AUDITED
Yes
DOMICILE
Cayman Islands
CROSS-REFERENCE TABLE
| LP SOURCE | AS OF | COMMITMENT | PAID IN | NET IRR | TVPI | DPI | DOC |
|---|---|---|---|---|---|---|---|
| Minnesota SBI | 2025-12-31 | $150M | $165.6M | -18.0% | 0.52x | 0.52x | SOURCE ↗◆ |
| WSIB | 2025-09-30 | $400M | $460.9M | -17.9% | 0.50x | 0.54x | SOURCE ↗◆ |
| PA PSERS | 2025-09-30 | $250M | $289.1M | -17.0% | 0.55x | — | SOURCE ↗◆ |
| MD MSRPS | 2025-06-30 | — | — | — | — | — | SOURCE ↗◆ |
| Florida SBA | 2025-06-30 | $200M | $210.3M | -18.0% | 0.49x | 0.49x | SOURCE ↗◆ |
| CalSTRS | 2025-06-30 | $800M | $801M | -16.8% | 0.48x | 0.48x | SOURCE ↗◆ |
| LACERS | 2025-06-30 | $25M | $26M | -17.8% | — | — | SOURCE ↗◆ |
| Florida SBA | 2025-03-31 | $200M | $210.3M | -18.0% | 0.49x | 0.49x | SOURCE ↗◆ |
| Florida SBA | 2024-12-31 | $200M | $210.3M | -18.0% | 0.49x | 0.49x | SOURCE ↗◆ |
| Florida SBA | 2024-09-30 | $200M | $210.3M | -18.0% | 0.49x | 0.49x | SOURCE ↗◆ |
| Florida SBA | 2024-06-30 | $200M | $210.3M | -18.0% | 0.49x | 0.49x | SOURCE ↗◆ |
| Florida SBA | 2024-03-31 | $200M | $210.3M | -18.0% | 0.49x | 0.49x | SOURCE ↗◆ |
| Florida SBA | 2023-12-31 | $200M | $210.3M | -18.0% | 0.49x | 0.49x | SOURCE ↗◆ |
| Florida SBA | 2023-09-30 | $200M | $210.3M | -18.0% | 0.49x | 0.49x | SOURCE ↗◆ |
| Florida SBA | 2022-09-30 | $200M | $210.3M | -17.9% | 0.50x | 0.49x | SOURCE ↗◆ |
| Florida SBA | 2022-06-30 | $200M | $210.3M | -17.9% | 0.50x | 0.49x | SOURCE ↗◆ |
| Florida SBA | 2022-03-31 | $200M | $210.3M | -14.6% | 0.52x | 0.49x | SOURCE ↗◆ |
| Florida SBA | 2021-12-31 | $200M | $210.3M | -15.2% | 0.52x | 0.48x | SOURCE ↗◆ |
| Florida SBA | 2021-09-30 | $200M | $210.3M | -14.6% | 0.52x | 0.48x | SOURCE ↗◆ |
| Florida SBA | 2021-06-30 | $200M | $210.3M | -13.8% | 0.54x | 0.48x | SOURCE ↗◆ |
| Florida SBA | 2021-03-31 | $200M | $210.3M | -14.2% | 0.53x | 0.48x | SOURCE ↗◆ |
| Florida SBA | 2020-12-31 | $200M | $210.3M | -14.6% | 0.53x | 0.48x | SOURCE ↗◆ |
| Florida SBA | 2020-09-30 | $200M | $210.3M | -13.5% | 0.55x | 0.47x | SOURCE ↗◆ |
| Florida SBA | 2020-06-30 | $200M | $210.3M | -12.8% | 0.56x | 0.47x | SOURCE ↗◆ |
| Florida SBA | 2020-03-31 | $200M | $210.3M | -12.0% | 0.58x | 0.47x | SOURCE ↗◆ |
| Florida SBA | 2019-12-31 | $200M | $210.3M | -10.2% | 0.62x | 0.47x | SOURCE ↗◆ |
| Florida SBA | 2019-09-30 | $200M | $210.3M | -9.7% | 0.63x | 0.46x | SOURCE ↗◆ |
| Florida SBA | 2019-06-30 | $200M | $210.3M | -10.0% | 0.63x | 0.46x | SOURCE ↗◆ |
| Florida SBA | 2019-03-31 | $200M | $210.3M | -9.2% | 0.65x | 0.46x | SOURCE ↗◆ |
| Florida SBA | 2018-12-31 | $200M | $210.3M | -8.9% | 0.66x | 0.46x | SOURCE ↗◆ |
| Florida SBA | 2018-09-30 | $200M | $210.3M | -9.0% | 0.66x | 0.46x | SOURCE ↗◆ |
| Florida SBA | 2018-06-30 | $200M | $206.9M | -9.4% | 0.65x | 0.47x | SOURCE ↗◆ |
| Florida SBA | 2018-03-31 | $200M | $206.6M | -8.3% | 0.69x | 0.47x | SOURCE ↗◆ |
| Florida SBA | 2017-12-31 | $200M | $206.2M | -8.4% | 0.69x | 0.43x | SOURCE ↗◆ |
| Florida SBA | 2017-09-30 | $200M | $205.2M | -8.6% | 0.69x | 0.41x | SOURCE ↗◆ |
| Florida SBA | 2017-06-30 | $200M | $204.8M | -8.8% | 0.69x | 0.41x | SOURCE ↗◆ |
| Florida SBA | 2017-03-31 | $200M | $203.7M | -8.6% | 0.70x | 0.41x | SOURCE ↗◆ |
| Florida SBA | 2016-12-31 | $200M | $202.9M | -8.8% | 0.70x | 0.40x | SOURCE ↗◆ |
| Florida SBA | 2016-09-30 | $200M | $200M | -8.8% | 0.70x | 0.39x | SOURCE ↗◆ |
| Florida SBA | 2016-06-30 | $200M | $194.9M | -8.2% | 0.72x | 0.39x | SOURCE ↗◆ |
| Florida SBA | 2016-03-31 | $200M | $193.4M | -7.9% | 0.73x | 0.39x | SOURCE ↗◆ |
| Florida SBA | 2015-12-31 | $200M | $190.9M | -8.1% | 0.73x | 0.39x | SOURCE ↗◆ |
| Florida SBA | 2015-09-30 | $200M | $188.4M | -4.4% | 0.84x | 0.39x | SOURCE ↗◆ |