the regents of university california alternative investments as march 31 2003 since inception in 1979 through private equity portfolio has consisted 2 1 billion commitments to 94 partnerships 5 these have been called by and 9 distributions received from including current net asset value 0 7 produced profits a 4x multiple on contributed capital generated total return 26 for 10 year period ended june 30 beginning 2001 cambridge associates llc ca retained advise calculate internal rate irr each partnership held prior engagement office treasurer did not irrs individual historical returns all portfolios reported