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Nordic Capital Fund XI

Nordic CapitalVINTAGE 2022

NET IRR

19.5%

TVPI

1.23x

DPI

0.04x

COMMITMENT

$114.8M

LP SOURCES

3

VALUATION SPREAD1.23x – 1.30x TVPI across 2 sources

CROSS-REFERENCE TABLE

LP SOURCE	AS OF	COMMITMENT	PAID IN	NET IRR	TVPI	DPI	DOC
Minnesota SBI	2025-12-31	$114.8M	$81.1M	19.5%	1.23x	0.04x	SOURCE ↗◆
WSIB	2025-09-30	$299.8M	$203.7M	25.5%	1.30x	0.02x	SOURCE ↗◆
LACERS	2025-06-30	$28.9M	—	29.1%	—	—	SOURCE ↗◆