← First Reserve
First Reserve Fund XI, L.P.
First ReserveVINTAGE 2006
NET IRR
-9.4%
TVPI
0.70x
DPI
0.69x
COMMITMENT
$300M
LP SOURCES
40
VALUATION SPREAD0.64x – 0.70x TVPI across 3 sources
SEC REGISTRATION · FORM ADV SCHEDULE D
SEC IAPD ↗GROSS ASSET VALUE
$4.8B
MIN INVESTMENT
$10.0M
INVESTORS
256
AUDITED
Yes
DOMICILE
Delaware, United States
CROSS-REFERENCE TABLE
| LP SOURCE | AS OF | COMMITMENT | PAID IN | NET IRR | TVPI | DPI | DOC |
|---|---|---|---|---|---|---|---|
| WSIB | 2025-09-30 | $300M | $341.8M | -9.4% | 0.70x | 0.69x | SOURCE ↗◆ |
| Florida SBA | 2025-06-30 | $100M | $100M | -9.4% | 0.64x | 0.64x | SOURCE ↗◆ |
| CalSTRS | 2025-06-30 | $800M | $806.1M | -8.9% | 0.64x | 0.64x | SOURCE ↗◆ |
| LACERS | 2025-06-30 | $30M | $30M | -7.9% | — | — | SOURCE ↗◆ |
| Florida SBA | 2025-03-31 | $100M | $100M | -9.4% | 0.64x | 0.64x | SOURCE ↗◆ |
| Florida SBA | 2024-12-31 | $100M | $100M | -9.4% | 0.64x | 0.64x | SOURCE ↗◆ |
| Florida SBA | 2024-09-30 | $100M | $100M | -9.4% | 0.64x | 0.64x | SOURCE ↗◆ |
| Florida SBA | 2024-06-30 | $100M | $100M | -9.4% | 0.64x | 0.64x | SOURCE ↗◆ |
| Florida SBA | 2024-03-31 | $100M | $100M | -9.4% | 0.64x | 0.64x | SOURCE ↗◆ |
| Florida SBA | 2023-12-31 | $100M | $100M | -9.4% | 0.64x | 0.64x | SOURCE ↗◆ |
| Florida SBA | 2023-09-30 | $100M | $100M | -9.4% | 0.64x | 0.64x | SOURCE ↗◆ |
| Florida SBA | 2022-09-30 | $100M | $100M | -9.4% | 0.64x | 0.64x | SOURCE ↗◆ |
| Florida SBA | 2022-06-30 | $100M | $100M | -9.4% | 0.64x | 0.64x | SOURCE ↗◆ |
| Florida SBA | 2022-03-31 | $100M | $100M | -9.4% | 0.64x | 0.64x | SOURCE ↗◆ |
| Florida SBA | 2021-12-31 | $100M | $100M | -9.4% | 0.64x | 0.64x | SOURCE ↗◆ |
| Florida SBA | 2021-09-30 | $100M | $100M | -9.4% | 0.64x | 0.64x | SOURCE ↗◆ |
| Florida SBA | 2021-06-30 | $100M | $100M | -9.4% | 0.64x | 0.64x | SOURCE ↗◆ |
| Florida SBA | 2021-03-31 | $100M | $100M | -9.5% | 0.64x | 0.63x | SOURCE ↗◆ |
| Florida SBA | 2020-12-31 | $100M | $100M | -9.5% | 0.64x | 0.63x | SOURCE ↗◆ |
| Florida SBA | 2020-09-30 | $100M | $100M | -10.2% | 0.63x | 0.63x | SOURCE ↗◆ |
| Florida SBA | 2020-06-30 | $100M | $100M | -10.2% | 0.63x | 0.63x | SOURCE ↗◆ |
| Florida SBA | 2020-03-31 | $100M | $100M | -10.2% | 0.63x | 0.63x | SOURCE ↗◆ |
| Florida SBA | 2019-12-31 | $100M | $100M | -8.1% | 0.67x | 0.63x | SOURCE ↗◆ |
| Florida SBA | 2019-09-30 | $100M | $100M | -7.7% | 0.68x | 0.63x | SOURCE ↗◆ |
| Florida SBA | 2019-06-30 | $100M | $100M | -7.9% | 0.68x | 0.63x | SOURCE ↗◆ |
| Florida SBA | 2019-03-31 | $100M | $100M | -8.0% | 0.68x | 0.62x | SOURCE ↗◆ |
| Florida SBA | 2018-12-31 | $100M | $100M | -8.9% | 0.66x | 0.60x | SOURCE ↗◆ |
| Florida SBA | 2018-09-30 | $100M | $100M | -7.8% | 0.68x | 0.60x | SOURCE ↗◆ |
| Florida SBA | 2018-06-30 | $100M | $100M | -8.4% | 0.67x | 0.60x | SOURCE ↗◆ |
| Florida SBA | 2018-03-31 | $100M | $100M | -9.1% | 0.66x | 0.60x | SOURCE ↗◆ |
| Florida SBA | 2017-12-31 | $100M | $100M | -9.1% | 0.66x | 0.60x | SOURCE ↗◆ |
| Florida SBA | 2017-09-30 | $100M | $100M | -9.3% | 0.66x | 0.60x | SOURCE ↗◆ |
| Florida SBA | 2017-06-30 | $100M | $100M | -9.1% | 0.66x | 0.59x | SOURCE ↗◆ |
| Florida SBA | 2017-03-31 | $100M | $100M | -8.7% | 0.67x | 0.56x | SOURCE ↗◆ |
| Florida SBA | 2016-12-31 | $100M | $100M | -8.9% | 0.67x | 0.56x | SOURCE ↗◆ |
| Florida SBA | 2016-09-30 | $100M | $100M | -9.4% | 0.66x | 0.56x | SOURCE ↗◆ |
| Florida SBA | 2016-06-30 | $100M | $100M | -9.8% | 0.65x | 0.55x | SOURCE ↗◆ |
| Florida SBA | 2016-03-31 | $100M | $100M | -10.9% | 0.64x | 0.55x | SOURCE ↗◆ |
| Florida SBA | 2015-12-31 | $100M | $100M | -9.3% | 0.67x | 0.55x | SOURCE ↗◆ |
| Florida SBA | 2015-09-30 | $100M | $100M | -7.8% | 0.71x | 0.55x | SOURCE ↗◆ |