California's Public Employees Retirement System operates the largest private equity portfolio in the U.S. After CalPERS published its updated fund-by-fund data, which includes everything from a fund's committed cash to its net internal rate of return, Fortune dissected the list to find the five best-performing PE funds in the country -- and the worst.
The good:
1. Clearstone Venture Partners
2. T3 Partners II
3. GCP California Fund
4. WLR Recovery Fund II
5. Permira Europe I
The not-so good:
1. Aberdare II Annex Fund
2. Exxel Capital Partners V
3. Opportunity Capital Partners IV
4. Convergence Ventures II
5. Richardson Capital Private Equity 2