Public Pension · MI, USA
State of Michigan Retirement Systems
522 fund investments across 170 managers in private equity, private credit, real assets and opportunistic, as last reported 2025-12-31.
Fund investments
522
As of 2025-12-31
Managers
170
Reported NAV
…
Top-10 concentration
…
Share of reported NAV in the ten largest funds
Where the NAV sits
Each rectangle is a fund, sized by current NAV and colored by strategy.
NAV by strategy
Current reported value by top-level strategy.
Commitments by vintage
Capital committed to funds of each vintage year.
Portfolio Holdings
522 fund investments
Fund Name | Vintage | Strategy | Sub-Strat | Geo | Commit | NAV | IRR | TVPI | DPI | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| 5AM Opportunities I, LP | — | Opportunistic | Multi Strategy | Global | $6.6M | $6.6M | — | — | — | |
| 5AM Opportunities II, LP | — | Opportunistic | Multi Strategy | Global | $14.3M | $14.3M | — | — | — | |
| 5AM Ventures VI, LP | — | Private Equity | Venture Capital | North America | $16.2M | $16.2M | — | — | — | |
| 5AM Ventures VII, LP | — | Private Equity | Venture Capital | North America | $23.7M | $16.1M | — | — | — | |
| 801 Grand Avenue Capital, LLC | — | Real Assets | Real Estate Equity | North America | $19.7M | $19.7M | — | — | — | |
| Abernathy Fund I, LLC | — | — | — | — | $214.9M | $205.4M | — | — | — | |
| Abernathy Fund II | — | — | — | — | $71.8M | $40.7M | — | — | — | |
| Abingworth Clinical Co. Development Fund 3 LP | — | Private Credit | Specialty Finance | Global | $150.0M | $24.4M | — | — | — | |
| Acacia Co-Invest, LP | — | Private Equity | Co-Investment | North America | $370.4M | $370.4M | — | — | — | |
| ACCD 3 SMRS Co-Invest, LP | — | Private Credit | Specialty Finance | Global | $75.0M | — | — | — | — | |
| Accel Europe I, L.P. | — | Private Equity | Venture Capital | Europe | $1.0M | $1.0M | — | — | — | |
| Accel Europe II | — | Private Equity | Venture Capital | Europe | $45.8M | $42.5M | — | — | — | |
| Accel Growth Fund II, L.P. | — | Private Equity | Growth Equity | Global | $4.8M | $4.8M | — | — | — | |
| Accel Growth Fund III, L.P. | — | Private Equity | Growth Equity | Global | $10.7M | $10.4M | — | — | — | |
| Accel Growth Fund IV L.P. | — | Private Equity | Growth Equity | Global | $25.5M | $25.5M | — | — | — | |
| Accel Growth Fund V, LP | — | Private Equity | Growth Equity | Global | $39.4M | $39.4M | — | — | — | |
| Accel Growth Fund VI, LP | — | Private Equity | Growth Equity | Global | $26.0M | $23.7M | — | — | — | |
| Accel Growth Fund VII LP | — | Private Equity | Growth Equity | Global | $19.7M | $4.9M | — | — | — | |
| Accel India VII, LP | — | Private Equity | Venture Capital | Asia Pacific | $9.6M | $7.6M | — | — | — | |
| Accel India VIII LP | — | Private Equity | Venture Capital | Asia Pacific | $9.8M | $2.4M | — | — | — | |
| Accel IX, L.P. | — | Private Equity | Venture Capital | Global | $4.0M | $1.0M | — | — | — | |
| Accel KKR Growth Capital Fund IV LP | — | Private Equity | Growth Equity | Global | $40.8M | $21.9M | — | — | — | |
| Accel Leaders 4 LP | — | Private Equity | Venture Capital | Global | $59.5M | $55.0M | — | — | — | |
| Accel Leaders 5, LP | — | Private Equity | Growth Equity | — | $35.0M | — | — | — | — | |
| Accel Leaders Fund 3, LP | — | Private Equity | Venture Capital | Global | $40.4M | $40.4M | — | — | — | |
| Accel Leaders Fund II, LP | — | Private Equity | Venture Capital | Global | $8.5M | $8.5M | — | — | — | |
| Accel Leaders Fund L.P. | — | Private Equity | Venture Capital | Global | $24.3M | $24.3M | — | — | — | |
| Accel London V L.P. | — | Private Equity | Venture Capital | Europe | $29.1M | $28.5M | — | — | — | |
| Accel London VI, LP | — | Private Equity | Venture Capital | Europe | $19.1M | $17.7M | — | — | — | |
| Accel London VII, LP | — | Private Equity | Venture Capital | Europe | $13.0M | $10.4M | — | — | — | |
| Accel London VIII, LP | — | Private Equity | Venture Capital | Europe | $9.7M | $4.1M | — | — | — | |
| Accel VI-S, L.P. | 2001 | Private Equity | Venture Capital | Global | $969,441 | $316,830 | — | — | — | |
| Accel VI, L.P. | — | Private Equity | Venture Capital | Global | $487,554 | $487,554 | — | — | — | |
| Accel X, L.P. | — | Private Equity | Venture Capital | Global | $2.2M | $2.2M | — | — | — | |
| Accel XI, L.P. | — | Private Equity | Venture Capital | Global | $15.1M | $13.7M | — | — | — | |
| Accel XII, L.P. | — | Private Equity | Venture Capital | Global | $16.2M | $15.2M | — | — | — | |
| Accel XIII, L.P. | — | Private Equity | Venture Capital | Global | $22.1M | $21.6M | — | — | — | |
| Accel XIV, LP | — | Private Equity | Venture Capital | Global | $13.6M | $12.7M | — | — | — | |
| Accel XV, LP | — | Private Equity | Venture Capital | Global | $10.5M | $7.9M | — | — | — | |
| Accel XVI, LP | — | Private Equity | Venture Capital | Global | $9.8M | $4.6M | — | — | — | |
| Acorn Bioventures 2 LP | — | Private Equity | Venture Capital | North America | $96.1M | $51.1M | — | — | — | |
| Acorn Bioventures, LP | — | Private Equity | Venture Capital | North America | $60.1M | $60.1M | — | — | — | |
| Advent International GPE IX, L.P. | 2019 | Private Equity | Buyout | Global | $312.4M | $301.1M | — | — | — | |
| Advent International GPE VI-A, L.P. | 2008 | Private Equity | Buyout | Global | $15.5M | $15.5M | — | — | — | |
| Advent International GPE VII-B, L.P. | 2012 | Private Equity | Buyout | Global | $22.6M | $14.6M | — | — | — | |
| Advent International GPE VIII-B, L.P. | 2016 | Private Equity | Buyout | Global | $128.2M | $128.2M | — | — | — | |
| Advent International GPE X Limited Partnership | 2022 | Private Equity | Buyout | Global | $420.3M | $289.1M | — | — | — | |
| Advent International GPE XI | 2025 | Private Equity | Buyout | Global | $150.0M | — | — | — | — | |
| Advent International LAPEF VII, LP | — | Private Equity | Buyout | Global | $59.4M | $40.1M | — | — | — | |
| Advent Latin American Private Equity Fund VI | 2015 | Private Equity | Buyout | Latin America | $26.5M | $24.1M | — | — | — |
Showing 1 to 50 of 522 holdings
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