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LP Scorecard: Searchlight, Hony score biggest jumps in investment multiple for NY State

The 2011 vintage Searchlight Capital jumped 93.27 percent to a multiple of 1x as of March 31, 2013 from a multiple of 0.51x as of March 31, 2012. Unsurprisingly, half the top ten is made up of young vintages (four 2011 vintages and one 2010 vintage). In second place comes Chinese buyout house Hony Capital with its 2011 Hony Capital Fund V, up 62.07 percent to 0.88x in 2013 from a 0.54x multiple in 2012.

In third place comes another Asia-focused fund, the 2008 vintage CVC Capital Partners Asia Fund II,I which jumped 57.04 percent to a 1.65x multiple in 2013 from 1.05x in 2012.

The oldest vintage to register a significant increase in multiple in sixth place came the 2005 KKR European Fund II up 21.82 percent to a 1.14x multiple from 0.94x.

TPG features twice in this top ten list with its 2011 vintage TPG Growth II in seventh place, up 20.44 percent to 0.84x from 0.70x and TPG Partners V in ninth place up 19.29 percent to 0.98x from 0.82x.

Older vintages to have narrowly missed an appearance in the top ten include the 2007 vintage Apollo Investment Fund VII, registering a 18.1 percent multiple increase to take twelfth place, followed by the 2008 TPG Partners VI, up 17.8 percent in the number thirteen spot and the 2003 vintage Founders Equity NY up 17.7 percent in fourteenth place.

As of March 31, 2013, New York State Common Retirement Fund managed private equity assets worth $13.8 billion and had an actual allocation of 8.6 percent, slightly below a target allocation of 10 percent.

Vicki Fuller, a former executive at Alliance Bernstein, took on the position of chief investment officer at the pension fund in August 2012.