LLR Equity Partners IV

LLR EquityVINTAGE 2014

NET IRR

27.0%

TVPI

2.82x

DPI

—

COMMITMENT

$200M

LP SOURCES

3

VALUATION SPREAD2.70x – 2.82x TVPI across 2 sources

CROSS-REFERENCE TABLE

LP SOURCE	AS OF	COMMITMENT	PAID IN	NET IRR	TVPI	DPI	DOC
PA PSERS	2025-09-30	$200M	$181.8M	27.0%	2.82x	—	SOURCE ↗◆
Colorado PERA	2024-12-31	$50M	$46M	26.7%	—	2.36x	SOURCE ↗◆
PA SERS	2024-09-30	$50M	$45.5M	26.7%	2.70x	2.36x	SOURCE ↗◆