LLR Equity Partners III

LLR EquityVINTAGE 2008

NET IRR

17.9%

TVPI

2.40x

DPI

—

COMMITMENT

$187.5M

LP SOURCES

3

VALUATION SPREAD2.20x – 2.40x TVPI across 2 sources

CROSS-REFERENCE TABLE

LP SOURCE	AS OF	COMMITMENT	PAID IN	NET IRR	TVPI	DPI	DOC
PA PSERS	2025-09-30	$187.5M	$165.3M	17.9%	2.40x	—	SOURCE ↗◆
Colorado PERA	2024-12-31	$50M	$48.6M	14.0%	—	1.80x	SOURCE ↗◆
PA SERS	2024-09-30	$30M	$29.1M	16.5%	2.20x	2.24x	SOURCE ↗◆