Performance
(as of 12/31/22)
| Fund | MTD | QTD | YTD | 1 Year | 3 Year | 5 Year | Inception to Date* | 2020 | 2021 |
|---|---|---|---|---|---|---|---|---|---|
| PEF Class I Shares | -2.47% | 0.65% | -1.70% | -1.70% | 11.88% | 9.04% | 9.54% | 14.22% | 24.79% |
| MSCI All Country World Index | -5.76% | 7.56% | -18.11% | -18.11% | 7.65% | 9.42% | 11.64% | 18.40% | 28.71% |
| S&P 500 Index | -3.94% | 9.76% | -18.36% | -18.36% | 4.00% | 5.22% | 8.33% | 16.25% | 18.54% |
The performance data quoted represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor's shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call toll-free (855) 897-5390.
The index is shown for informational purposes only and is not reflective of any investment. An investor cannot invest directly in an index. Indices do not include fees or operating expenses and are not available for actual investment. They are unmanaged and shown for illustrative purposes only. For index descriptions and risks see the Glossary at the end of this presentation. Indices are shown for informational purposes only. The Funds management fee is 1.20%. The Funds other operating expenses are estimated to be 1.82% for the Class A Share, 1.78% for the Class I Share, 1.85% for the Class AA, C, and T Shares, 1.83% for the Class II Share, and 1.87% for the Class L Share as of Funds fiscal year ended 3/31/2022. The Fund’s Advisor has contractually allowed to waive management fees and make payments to limit Fund expenses until July 31, 2023. The Funds Total annual expenses after fee and expense reimbursement/ recoupment is estimated to be 6.55% for the Class A Share, 5.91% for the Class I Share, 6.28% for the Class AA Shares, 6.27% for Class II Shares, 6.88% for the T Share, 6.68% for the Class C Share, and 6.86% for the Class L Share as of Funds fiscal year ended 3/31/2022. The fee waiver and expense reimbursement are subject to possible recoupment from the Fund in future years. Underlying funds generally charge a 1%-2% management fee and approximately 20% of net realized profits as a carried interest allocation. The Fund bears underlying management fees, expenses and carried interest, incentive fees or allocations based on performance. See the Funds Private Placement Memorandum for more details on the Funds expenses. *Private Equity performance numbers may lag up to two months*
Historical Fund Performance
| Class I | Jan-16 | Feb-16 | Mar-16 | Apr-16 | May-16 | Jun-16 | Jul-16 | Aug-16 | Sep-16 | Oct-16 | Nov-16 | Dec-16 | 2016* |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PEF Class I | - | - | - | - | 0.56% | 0.33% | 1.09% | 1.51% | 1.19% | 0.07% | 0.48% | 0.14% | 5.48% |
| MSCI ACWI | - | - | - | - | 0.13% | -0.61% | 4.31% | 0.34% | 0.61% | -1.70% | 0.76% | 2.16% | 5.91% |
| S&P 500 | - | - | - | - | 1.80% | 0.26% | 3.69% | 0.14% | 0.02% | -1.82% | 3.70% | 1.98% | 8.10% |
| Class I | Jan-17 | Feb-17 | Mar-17 | Apr-17 | May-17 | Jun-17 | Jul-17 | Aug-17 | Sep-17 | Oct-17 | Nov-17 | Dec-17 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PEF Class I | 0.84% | 0.90% | 0.52% | 0.60% | 0.56% | 1.61% | 0.93% | 0.96% | 0.25% | 0.53% | 0.82% | 3.52% | 12.68% |
| MSCI ACWI | 2.73% | 2.81% | 1.22% | 1.56% | 2.21% | 0.45% | 2.79% | 0.38% | 1.93% | 2.08% | 1.94% | 1.61% | 23.97% |
| S&P 500 | 1.90% | 3.97% | 0.12% | 1.03% | 1.41% | 0.62% | 2.06% | 0.31% | 2.06% | 2.33% | 3.07% | 1.11% | 21.83% |
| Class I | Jan-18 | Feb-18 | Mar-18 | Apr-18 | May-18 | Jun-18 | Jul-18 | Aug-18 | Sep-18 | Oct-18 | Nov-18 | Dec-18 | 2018 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PEF Class I | 0.14% | -0.71% | 0.05% | 0.65% | 0.97% | 2.01% | 1.51% | 0.42% | 1.67% | -0.65% | -0.48% | -2.01% | 3.56% |
| MSCI ACWI | 5.64% | -4.20% | -2.14% | 0.95% | 0.12% | -0.54% | 3.02% | 0.79% | 0.44% | -7.49% | 1.46% | -7.04% | -9.41% |
| S&P 500 | 5.73% | -3.69% | -2.54% | 0.38% | 2.41% | 0.62% | 3.72% | 3.26% | 0.57% | -6.84% | 2.04% | -9.03% | -4.38% |
| Class I | Jan-19 | Feb-19 | Mar-19 | Apr-19 | May-19 | Jun-19 | Jul-19 | Aug-19 | Sep-19 | Oct-19 | Nov-19 | Dec-19 | 2019 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PEF Class I | 1.30% | 0.96% | 1.63% | 0.75% | 0.25% | 0.20% | 0.37% | -0.37% | 0.03% | 0.21% | 0.66% | 0.15% | 6.29% |
| MSCI ACWI | 7.90% | 2.67% | 1.26% | 3.38% | -5.93% | 6.55% | 0.29% | -2.37% | 2.10% | 2.74% | 2.44% | 3.52% | 26.60% |
| S&P 500 | 8.01% | 3.21% | 1.94% | 4.05% | -6.35% | 7.05% | 1.44% | -1.58% | 1.87% | 2.17% | 3.63% | 3.02% | 31.49% |
| Class I | Jan-20 | Feb-20 | Mar-20 | Apr-20 | May-20 | Jun-20 | Jul-20 | Aug-20 | Sep-20 | Oct-20 | Nov-20 | Dec-20 | 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PEF Class I | 0.45% | -0.16% | -7.68% | 0.23% | 1.13% | 5.74% | 0.83% | 2.03% | 3.73% | 0.95% | 4.68% | 2.06% | 14.22% |
| MSCI ACWI | -1.10% | -8.08% | -13.50% | 10.71% | 4.35% | 3.20% | 5.29% | 6.12% | -3.22% | -2.43% | 12.33% | 4.64% | 16.25% |
| S&P 500 | -0.04% | -8.23% | -12.35% | 12.82% | 4.76% | 1.99% | 5.64% | 7.19% | -3.80% | -2.66% | 10.95% | 3.84% | 18.40% |
| Class I | Jan-21 | Feb-21 | Mar-21 | Apr-21 | May-21 | Jun-21 | Jul-21 | Aug-21 | Sep-21 | Oct-21 | Nov-21 | Dec-21 | 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PEF Class I | 0.92% | 2.03% | 4.97% | 0.77% | 0.74% | 6.60% | -0.25% | -0.71% | 3.92% | 2.48% | -0.60% | 1.75% | 24.79% |
| MSCI ACWI | -0.45% | 2.32% | 2.67% | 4.37% | 1.56% | 1.32% | 0.69% | 2.50% | -4.13% | 5.10% | -2.41% | 4.00% | 18.54% |
| S&P 500 | -1.01% | 2.76% | 4.38% | 5.34% | 0.70% | 2.33% | 2.38% | 3.04% | -4.65% | 7.01% | -0.69% | 4.48% | 28.71% |
| Class I | Jan-22 | Feb-22 | Mar-22 | Apr-22 | May-22 | Jun-22 | Jul-22 | Aug-22 | Sep-22 | Oct-22 | Nov-22 | Dec-22 | 2022 YTD |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PEF Class I | -1.87% | -0.31% | 3.80% | -4.22% | -0.30% | -0.81% | 5.13% | -0.55% | -2.89% | 2.19% | 0.98% | -2.47% | -1.70% |
| MSCI ACWI | -4.91% | -2.58% | 2.17% | -8.00% | 0.12% | -8.43% | 6.98% | -3.68% | -9.57% | 6.03% | 7.76% | -3.94% | -18.36% |
| S&P 500 | -5.17% | -2.99% | 3.71% | -8.72% | 0.18% | -8.25% | 9.22% | -4.08% | -9.21% | 8.10% | 5.59% | -5.76% | -18.11% |
*Calculated on an annualized basis. The Index is shown for informational purposes only and is not reflective of any investment. An investor cannot invest directly in an index. Indices do not include fees or operating expenses and are not available for actual investment. They are unmanaged and shown for illustrative purposes only. For index descriptions and risk see the Glossary. Past performance is no guarantee of future results.
1 Source: MSCI All Country World Index, 3/31/2022 Bloomberg, L.P.
2 Source: Standard & Poor’s 500 Index, 3/31/2022 Bloomberg, L.P.
Fund Holdings
(as of 12/31/22)
| Fund Name | % of PEF1 |
|---|---|
| Apollo Hybrid Value Fund L.P. | 17.10% |
| Warburg Pincus Global Growth L.P. | 8.74% |
| Apollo Investment Fund X, L.P. | 6.77% |
| TPG Partners IX L.P. | 6.77% |
| Carlyle Partners Fund VIll | 6.76% |
| TPG Partners VIII L.P. | 6.64% |
| Nuveen Churchill Direct Lending Corp. | 5.09% |
| Bain Capital Special Situations Asia L.P. | 4.30% |
| TPG Healthcare Partners L.P. | 4.02% |
| Ellington Private Opportunities Partners II L.P. | 3.79% |
| Warburg Pincus Global Growth 14 L.P. | 3.38% |
| Carlyle Direct Access Fund ll | 3.29% |
| Silver Lake Alpine II, L.P. | 3.11% |
| KKR North America Fund XIII SCSp | 2.70% |
| KKR Asian Fund III L.P. | 2.60% |
| KKR North America Fund XI L.P. | 2.53% |
| Blackstone Partners VIlI LP. | 2.28% |
| Guggenheim Private Debt Fund | 2.15% |
| KKR European Fund V (USD) SCSp | 2.14% |
| Ellington Private Opportunities Partners III L.P. | 1.96% |
| KKR Americas Fund XII L.P. | 1.76% |
| KKR Indigo Equity Partners A L.P. | 1.31% |
| Bridge Debt Strategies Fund II L.P. | 0.61% |
| Mount Yale Private Equity Fund L.P. | 0.12% |
| EPO Onshore Partners L.P. | 0.08% |
The Fund is subject to liquidity risk. Investments in illiquid assets involve the risk that the Fund may be unable to sell such assets or sell them at a reasonable price. Portfolio holdings are subject to change and should not be considered investment advice.
1 The top Fund holdings of PEF are calculated as net asset value plus unfunded commitments of the total underlying Private Equity and Private Debt Funds. Excludes cash, cash equivalents, and daily liquid funds, which may be significant. There is no guarantee that this investment strategy will achieve its objectives, goals, generate positive returns or avoid losses, L.P.