The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM NPORT-P/A
Monthly Portfolio Investments Report

NPORT-P/A: Filer Information

Confidential ☐
Filer CIK
0001560916
Filer CCC
********
Filer Investment Company Type
Accession Number
0001752724-25-049699
Is this a LIVE or TEST Filing? ☐ LIVE ☐ TEST
Would you like a Return Copy? ☐
Is this an electronic copy of an official filing submitted in paper format? ☐

Submission Contact Information

Name
Phone
E-Mail Address

Notification Information

Notify via Filing Website only? ☐
Notification E-mail Address
Series ID
Class (Contract) ID

NPORT-P/A: Part A: General Information

Item A.1. Information about the Registrant.

a. Name of Registrant
CPG CARLYLE COMMITMENTS FUND LLC
b. Investment Company Act file number for Registrant: (e.g., 811-______)
811-22763
c. CIK number of Registrant
0001560916
d. LEI of Registrant
549300SLTBICQRKH0F53
e. Address and telephone number of Registrant:
i. Street Address 1
660 Fifth Avenue
ii. Street Address 2
iii. City
NEW YORK
iv. State, if applicable
v. Foreign country, if applicable
vi. Zip / Postal Code
10103
vii. Telephone number
2123179200

Item A.2. Information about the Series.

a. Name of Series.
CPG Carlyle Commitments Fund LLC
b. EDGAR series identifier (if any).
c. LEI of Series.
549300SLTBICQRKH0F53

Item A.3. Reporting period.

a. Date of fiscal year-end.
2025-03-31
b. Date as of which information is reported.
2024-12-31

Item A.4. Final filing

a. Does the Fund anticipate that this will be its final filing on Form N PORT? ☐ Yes ☒ No

NPORT-P/A: Part B: Information About the Fund

Report the following information for the Fund and its consolidated subsidiaries.

Item B.1. Assets and liabilities. Report amounts in U.S. dollars.

a. Total assets, including assets attributable to miscellaneous securities reported in Part D.
1089276474.36
b. Total liabilities.
39376164.44
c. Net assets.
1049900309.92

Item B.2. Certain assets and liabilities. Report amounts in U.S. dollars.

a. Assets attributable to miscellaneous securities reported in Part D.
0.00000000
b. Assets invested in a Controlled Foreign Corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities.
0.00000000
c. Borrowings attributable to amounts payable for notes payable, bonds, and similar debt, as reported pursuant to rule 6-04(13)(a) of Regulation S-X [17 CFR 210.6-04(13)(a)].
Amounts payable within one year.
Banks or other financial institutions for borrowings.
0.00000000
Controlled companies.
0.00000000
Other affiliates.
0.00000000
Others.
0.00000000
Amounts payable after one year.
Banks or other financial institutions for borrowings.
0.00000000
Controlled companies.
0.00000000
Other affiliates.
0.00000000
Others.
0.00000000
d. Payables for investments purchased either (i) on a delayed delivery, when-issued, or other firm commitment basis, or (ii) on a standby commitment basis.
(i) On a delayed delivery, when-issued, or other firm commitment basis:
0.00000000
(ii) On a standby commitment basis:
0.00000000
e. Liquidation preference of outstanding preferred stock issued by the Fund.
0.00000000
f. Cash and cash equivalents not reported in Parts C and D.
2447763.90000000

Item B.3. Portfolio level risk metrics.

If the average value of the Fund's debt securities positions for the previous three months, in the aggregate, exceeds 25% or more of the Fund's net asset value, provide:
a. Interest Rate Risk (DV01). For each currency for which the Fund had a value of 1% or more of the Fund’s net asset value, provide the change in value of the portfolio resulting from a 1 basis point change in interest rates, for each of the following maturities: 3 month, 1 year, 5 years, 10 years, and 30 years.
b. Interest Rate Risk (DV100). For each currency for which the Fund had a value of 1% or more of the Fund’s net asset value, provide the change in value of the portfolio resulting from a 100 basis point change in interest rates, for each of the following maturities: 3 month, 1 year, 5 years, 10 years, and 30 years.

Currency Metric RecordISO Currency code3 month1 year5 years10 years30 years
— — — — — — —

c. Credit Spread Risk (SDV01, CR01 or CS01). Provide the change in value of the portfolio resulting from a 1 basis point change in credit spreads where the shift is applied to the option adjusted spread, aggregated by investment grade and non-investment grade exposures, for each of the following maturities: 3 month, 1 year, 5 years, 10 years, and 30 years.

Credit Spread Risk3 month1 year5 years10 years30 years
— — — — — —

For purposes of Item B.3., calculate value as the sum of the absolute values of:
(i) the value of each debt security,
(ii) the notional value of each swap, including, but not limited to, total return swaps, interest rate swaps, and credit default swaps, for which the underlying reference asset or assets are debt securities or an interest rate;
(iii) the notional value of each futures contract for which the underlying reference asset or assets are debt securities or an interest rate; and
(iv) the delta-adjusted notional value of any option for which the underlying reference asset is an asset described in clause (i),(ii), or (iii).

Report zero for maturities to which the Fund has no exposure. For exposures that fall between any of the listed maturities in (a) and (b), use linear interpolation to approximate exposure to each maturity listed above. For exposures outside of the range of maturities listed above, include those exposures in the nearest maturity.

Item B.4. Securities lending.

a. For each borrower in any securities lending transaction, provide the following information:

Borrower Information RecordName of borrowerLEI (if any) of borrowerAggregate value of all securities on loan to the borrower
— — — —

b. Did any securities lending counterparty provide any non-cash collateral? ☐ Yes ☒ No

Item B.5. Return information.

a. Monthly total returns of the Fund for each of the preceding three months. If the Fund is a Multiple Class Fund, report returns for each class. Such returns shall be calculated in accordance with the methodologies outlined in Item 26(b) (1) of Form N-1A, Instruction 13 to sub-Item 1 of Item 4 of Form N-2, or Item 26(b) (i) of Form N-3, as applicable.

Monthly Total Return Record Monthly total returns of the Fund for each of the preceding three months Class identification number(s) (if any) of the Class(es) for which returns are reported
Month 1 Month 2 Month 3
#1-4.39000000-1.72000000-0.25000000
#2-4.34000000-1.67000000-0.20000000

b. For each of the preceding three months, monthly net realized gain (loss) and net change in unrealized appreciation (or depreciation) attributable to derivatives for each of the following categories: commodity contracts, credit contracts, equity contracts, foreign exchange contracts, interest rate contracts, and other contracts. Within each such asset category, further report the same information for each of the following types of derivatives instrument: forward, future, option, swaption, swap, warrant, and other. Report in U.S. dollars. Losses and depreciation shall be reported as negative numbers.
i. Asset category.
c. For each of the preceding three months, monthly net realized gain (loss) and net change in unrealized appreciation (or depreciation) attributable to investment other than derivatives. Report in U.S. dollars. Losses and depreciation shall be reported as negative numbers.

MonthMonthly net realized gain(loss)Monthly net change in unrealized appreciation (or depreciation)
Month 1 28434.05000000-13634311.52000000
Month 2 12005030.83000000-26314817.49000000
Month 3 21173.32000000-2412961.14000000

Item B.6. Flow information.

a. Provide the aggregate dollar amounts for sales and redemptions/repurchases of Fund shares during each of the preceding three months. If shares of the Fund are held in omnibus accounts, for purposes of calculating the Fund's sales, redemptions, and repurchases, use net sales or redemptions/repurchases from such omnibus accounts. The amounts to be reported under this Item should be after any front-end sales load has been deducted and before any deferred or contingent deferred sales load or charge has been deducted. Shares sold shall include shares sold by the Fund to a registered unit investment trust. For mergers and other acquisitions, include in the value of shares sold any transaction in which the Fund acquired the assets of another investment company or of a personal holding company in exchange for its own shares. For liquidations, include in the value of shares redeemed any transaction in which the Fund liquidated all or part of its assets. Exchanges are defined as the redemption or repurchase of shares of one Fund or series and the investment of all or part of the proceeds in shares of another Fund or series in the same family of investment companies.

MonthTotal net asset value of shares sold (including exchanges but excluding reinvestment of dividends and distributions)Total net asset value of shares sold in connection with reinvestments of dividends and distributionsTotal net asset value of shares redeemed or repurchased, including exchanges
Month 1 626600.000000000.0000000033647400.06000000
Month 2 0.000000000.000000000.00000000
Month 3 0.000000000.000000000.00000000

Item B.7. Highly Liquid Investment Minimum information.

a. If applicable, provide the Fund's current Highly Liquid Investment Minimum.
—
b. If applicable, provide the number of days that the Fund's holdings in Highly Liquid Investments fell below the Fund's Highly Liquid Investment Minimum during the reporting period.
—
c. Did the Fund's Highly Liquid Investment Minimum change during the reporting period? ☐ Yes ☐ No ☐ N/A

Item B.8. Derivatives Transactions.

For portfolio investments of open-end management investment companies, provide the percentage of the Fund's Highly Liquid Investments that it has pledged as margin or collateral in connection with derivatives transactions that are classified among the following categories as specified in rule 22e-4 [17 CFR 270.22e-4]:
(1) Moderately Liquid Investments
(2) Less Liquid Investments
(3) Illiquid Investments
For purposes of Item B.8, when computing the required percentage, the denominator should only include assets (and exclude liabilities) that are categorized by the Fund as Highly Liquid Investments.
Classification
—

Item B.9. Derivatives Exposure for limited derivatives users.

If the Fund is excepted from the rule 18f-4 [17 CFR 270.18f-4] program requirement and limit on fund leverage risk under rule 18f-4(c)(4) [17 CFR 270.18f-4(c)(4)], provide the following information:
a. Derivatives exposure (as defined in rule 18f-4(a) [17 CFR 270.18f-4(a)]), reported as a percentage of the Fund’s net asset value.
—
b. Exposure from currency derivatives that hedge currency risks, as provided in rule 18f-4(c)(4)(i)(B) [17 CFR 270.18f-4(c)(4)(i)(B)], reported as a percentage of the Fund's net asset value.
—
c. Exposure from interest rate derivatives that hedge interest rate risks, as provided in rule 18f-4(c)(4)(i)(B) [17 CFR 270.18f-4(c)(4)(i)(B)], reported as a percentage of the Fund's net asset value.
—
d. The number of business days, if any, in excess of the five-business-day period described in rule 18f-4(c)(4)(ii) [17 CFR 270.18f-4(c)(4)(ii)], that the Fund’s derivatives exposure exceeded 10 percent of its net assets during the reporting period.
—

Item B.10. VaR information.

For Funds subject to the limit on fund leverage risk described in rule 18f-4(c)(2) [17 CFR 270.18f-4(c)(2)], provide the following information, as determined in accordance with the requirement under rule 18f-4(c)(2)(ii) to determine the fund’s compliance with the applicable VaR test at least once each business day:
a. Median daily VaR during the reporting period, reported as a percentage of the Fund's net asset value.
—
b. For Funds that were subject to the Relative VaR Test during the reporting period, provide:
i. As applicable, the name of the Fund’s Designated Index, or a statement that the Fund's Designated Reference Portfolio is the Fund’s Securities Portfolio.
—
ii. As applicable, the index identifier for the Fund’s Designated Index.
—
iii. Median VaR Ratio during the reporting period, reported as a percentage of the VaRof the Fund's Designated Reference Portfolio.
—
c. Backtesting Results. Number of exceptions that the Fund identified as a result of its backtesting of its VaR calculation model (as described in rule 18f-4(c)(1)(iv) [17 CFR 270.18f-4(c)(1)(iv)] during the reporting period.
—

NPORT-P/A: Part C: Schedule of Portfolio Investments

For each investment held by the Fund and its consolidated subsidiaries, disclose the information requested in Part C. A Fund may report information for securities in an aggregate amount not exceeding five percent of its total assets as miscellaneous securities in Part D in lieu of reporting those securities in Part C, provided that the securities so listed are not restricted, have been held for not more than one year prior to the end of the reporting period covered by this report, and have not been previously reported by name to the shareholders of the Fund or to any exchange, or set forth in any registration statement, application, or report to shareholders or otherwise made available to the public.
Schedule of Portfolio Investments Record: 1

Item C.1. Identification of investment.

a. Name of issuer (if any).
N/A
b. LEI (if any) of issuer. (1)
N/A
c. Title of the issue or description of the investment.
CPG Carlyle Commitments Master Fund, LLC
d. CUSIP (if any).
N/A
At least one of the following other identifiers:
- Ticker (if ISIN is not available).
CPGMAST

Item C.2. Amount of each investment.

Balance. (2)
a. Balance
35418251.90860000
b. Units
Number of shares
c. Description of other units.
d. Currency. (3)
United States Dollar
e. Value. (4)
1054697936.53000000
f. Exchange rate.
g. Percentage value compared to net assets of the Fund.
100.4569602051

Item C.3. Payoff profile.

a. Payoff profile. (5)☒ Long ☐ Short ☐ N/A

Item C.4. Asset and issuer type.

a. Asset type. (6)
Equity-common
b. Issuer type. (7)
Registered fund

Item C.5. Country of investment or issuer.

a. ISO country code. (8)
UNITED STATES OF AMERICA
b. Investment ISO country code. (9)

Item C.6. Is the investment a Restricted Security?

a. Is the investment a Restricted Security? ☐ Yes ☒ No

Item C.7. Liquidity classification information.

a. Liquidity classification information. (10)
Category.
N/A

Item C.8. Fair value level.

a. Level within the fair value hierarchy (12)☐ 1 ☐ 2 ☐ 3 ☒ N/A

Item C.9. Debt securities.

N/A

Item C.10. Repurchase and reverse repurchase agreements.

N/A

Item C.11. Derivatives.

N/A

Item C.12. Securities lending.

a. Does any amount of this investment represent reinvestment of cash collateral received for loaned securities? ☐ Yes ☒ No
b. Does any portion of this investment represent that is treated as a Fund asset and received for loaned securities? ☐ Yes ☒ No
c. Is any portion of this investment on loan by the Fund? ☐ Yes ☒ No

NPORT-P/A: Part E: Explanatory Notes (if any)

The Fund may provide any information it believes would be helpful in understanding the information reported in response to any Item of this Form. The Fund may also explain any assumptions that it made in responding to any Item of this Form. To the extent responses relate to a particular Item, provide the Item number(s), as applicable.

Explanatory Note RecordNote ItemExplanatory Notes
#1B.5The Form is being amended because the Fund has restated its NAV for the period covered by this filing. This restatement impacts the Fund's previous responses to Item B.1 and other items in the Form for which calculations are based on the Fund's NAV, including Item B.5.
#2B.1The Form is being amended because the Fund has restated its NAV for the period covered by this filing. This restatement impacts the Fund's previous responses to Item B.1 and other items in the Form for which calculations are based on the Fund's NAV, including Item B.5.

NPORT-P/A: Additional notes

IdentifierNote
(1) LEI (if any) of issuer. In the case of a holding in a fund that is a series of a series trust, report the LEI of the series.
(2) Balance. Indicate whether amount is expressed in number of shares, principal amount, or other units. For derivatives contracts, as applicable, provide the number of contracts.
(3) Currency. Indicate the currency in which the investment is denominated.
(4) Value. Report values in U.S. dollars. If currency of investment is not denominated in U.S. dollars, provide the exchange rate used to calculate value.
(5) Indicate payoff profile among the following categories (long, short, N/A). For derivatives, respond N/A to this Item and respond to the relevant payoff profile question in Item [C/D].11.
(6) Asset type (short-term investment vehicle (e.g., money market fund, liquidity pool, or other cash management vehicle), repurchase agreement, equity-common, equity-preferred, debt, derivative-commodity, derivative-credit, derivative-equity, derivative-foreign exchange, derivative-interest rate, derivatives-other, structured note, loan, ABS-mortgage backed security, ABS-asset backed commercial paper, ABS-collateralized bond/debt obligation, ABS-other, commodity, real estate, other). If “other” provide a brief description.
(7) Issuer type (corporate, U.S. Treasury, U.S. government agency, U.S. government sponsored entity, municipal, non-U.S. sovereign, private fund, registered fund, other). If “other” provide a brief description.
(8) Report the ISO country code that corresponds to the country where the issuer is organized.
(9) If different from the country where the issuer is organized, also report the ISO country code that corresponds to the country of investment or issuer based on the concentrations of the risk and economic exposure of the investments.
(10) Liquidity classification information. For portfolio investments of open-end management investment companies, provide the liquidity classification(s) for each portfolio investment among the following categories as specified in rule 22e-4 [17 CFR 270.22e-4]: Highly Liquid Investments, Moderately Liquid Investments, Less Liquid Investments, Illiquid Investments. For portfolio investments with multiple liquidity classifications, indicate the percentage amount attributable to each classification.
(11) Funds may choose to indicate the percentage amount of a holding attributable to multiple classification categories only in the following circumstances:
(1) if portions of the position have differing liquidity features that justify treating the portions separately;
(2) if a fund has multiple sub-advisers with differing liquidity views; or
(3) if the fund chooses to classify the position through evaluation of how long it would take to liquidate the entire position (rather than basing it on the sizes it would reasonably anticipated trading).
In (1) and (2), a fund would classify using the reasonably anticipated trade size for each portion of the position.
(12) Indicate the level within the fair value hierarchy in which the fair value measurements fall pursuant to U.S. Generally Accepted Accounting Principles 7 (ASC 820, Fair Value Measurement). [1/2/3] Report "N/A" if the investment does not have a level associated with it (i.e., net asset value used as the practical expedient).
(13) Select the category that most closely reflects the coupon type among the following (fixed, floating, variable, none).
(14) Are there any interest payments in arrears or have any coupon payments been legally deferred by the issuer? [Y/N]
(15) Enter "N" if the interest may be paid in kind but is not actually paid in kind or if the Fund has the option of electing in-kind payment and has elected to be paid in-kind.
(16) Description of the reference instrument, including the name of issuer, title of issue, and currency in which denominated, as well as CUSIP of reference instrument, ISIN (if CUSIP is not available), ticker (if CUSIP and ISIN are not available), or other identifier (if CUSIP, ISIN, and ticker are not available).
If other identifier provided, indicate the type of identifier used.
(17) Conversion ratio per US$1000 notional, or, if bond currency is not in U.S. dollars, per 1000 units of the relevant currency, indicating the relevant currency. If there is more than one conversion ratio, provide each conversion ratio.
(18) Select the category that reflects the transaction (repurchase, reverse repurchase). Select "repurchase agreement" if the Fund is the cash lender and receives collateral. Select "reverse repurchase agreement" if the Fund is the cash borrower and posts collateral.
(19) If multiple securities of an issuer are subject to the repurchase agreement, those securities may be aggregated.
(20) Category of investments that most closely represents the collateral, selected from among the following (asset-backed securities; agency collateralized mortgage obligations; agency debentures and agency strips; agency mortgage-backed securities; private label collateralized mortgage obligations; corporate debt securities; equities; money market; U.S. Treasuries (including strips); other instrument). If "other instrument", include a brief description, including, if applicable, whether it is a collateralized debt obligation, municipal debt, whole loan, or international debt
(21) Type of derivative instrument that most closely represents the investment, selected from among the following (forward, future, option, swaption, swap (including but not limited to total return swaps, credit default swaps, and interest rate swaps), warrant, other).
(22) In the case of a holding in a fund that is a series of a series trust, report the LEI of the series.
(23) Description and terms of payments necessary for a user of financial information to understand the terms of payments to be paid and received, including, as applicable, description of the reference instrument, obligation, or index, financing rate, floating coupon rate, fixed coupon rate, and payment frequency.
(24) Depreciation shall be reported as a negative number.
(25) If the reference instrument is a derivative, indicate the category of derivative from among the categories listed in sub-Item C.11.a. and provide all information required to be reported on this Form for that category.
(26) If the reference instrument is an index or custom basket, and if the index’s or custom basket’s components are publicly available on a website and are updated on that website no less frequently than quarterly, identify the index and provide the index identifier, if any. If the index’s or custom basket’s components are not publicly available in that manner, and the notional amount of the derivative represents 1% or less of the net asset value of the Fund, provide a narrative description of the index. If the index’s or custom basket’s components are not publicly available in that manner, and the notional amount of the derivative represents more than 5% of the net asset value of the Fund, provide the (i) name, (ii) identifier, (iii) number of shares or notional amount or contract value as of the trade date (all of which would be reported as negative for short positions), and (iv) value of every component in the index or custom basket. The identifier shall include CUSIP of the index’s or custom basket’s components, ISIN (if CUSIP is not available), ticker (if CUSIP and ISIN are not available), or other identifier (if CUSIP, ISIN, and ticker are not available). If other identifier provided, indicate the type of identifier used.

If the index’s or custom basket’s components are not publicly available in that manner, and the notional amount of the derivative represents greater than 1%, but 5% or less, of the net asset value of the Fund, Funds shall report the required component information described above, but may limit reporting to the (i) 50 largest components in the index and (ii) any other components where the notional value for that components is over 1% of the notional value of the index or custom basket.
An index or custom basket, where the components are publicly available on a website and are updated on that website no less frequently than quarterly.
(27) If the index’s or custom basket’s components are not publicly available in that manner, and the notional amount of the derivative represents 1% or less of the net asset value of the Fund, provide a narrative description of the index.
(28) If the reference instrument is neither a derivative or an index, the description of the reference instrument shall include the name of issuer and title of issue, as well as CUSIP of the reference instrument, ISIN (if CUSIP is not available), ticker if (CUSIP and ISIN are not available), or other identifier (if CUSIP, ISIN, and ticker are not available).
(29) If the Fund is required to adopt a policy as described in rule 35d-1(a)(2)(i) or (a)(3)(i) [17 CFR 270.35d-1(a)(2)(i) or (3)(i)], is the investment included in the Fund’s 80% basket, as defined in rule 35d-1(g), as applicable?

NPORT-P/A: Signatures

The Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Registrant:
CPG CARLYLE COMMITMENTS FUND LLC
By (Signature):
Trishmarie Chan
Name:
Trishmarie Chan
Title:
Principal Accounting Officer
Date:
2025-01-30

CPG CARLYLE COMMITMENTS MASTER FUND, LLC

CONSOLIDATED SCHEDULE OF INVESTMENTS

December 31, 2024 (UNAUDITED)

 

 

Investment Funds (88.98%)  Geographic
Region		  Financing
Stage		  Acquisition
Date		  Cost   Fair Value   Percentage of
Net Assets		 
Co-Investments (12.74%)               
Access Holdings (FPG II), L.P.(a)(b)  North America  Buyout  5/24/2024  $1,842,964   $2,460,713    0.24%
Carlyle Beacon Partners, L.P.(a)  Asia/Pacific  Growth  9/28/2018   10,346,726    14,893,061    1.47%
Carlyle Eagle Coinvestment, L.P.(a)(b)  North America  Buyout  2/15/2018   4,350,112    31,375,409    3.10%
Carlyle Encore Coinvestment II, L.P.(a)  North America  Buyout  10/18/2024   15,037,500    15,016,130    1.48%
Carlyle Fourmi Co-Investment, L.P.(a)(b)  Asia/Pacific  Growth  6/29/2018   15,593,415    10,389,505    1.03%
Carlyle Jumper Coinvestment, L.P.(a)  North America  Buyout  12/12/2023   15,395,326    17,678,015    1.74%
Carlyle Mars Partners, L.P.(a)(b)  Asia/Pacific  Buyout  11/11/2016   143,119    270,253    0.03%
Carlyle RDSL Coinvestment, L.P.(a)(b)(c)  South America  Growth  9/30/2015   505,124    42,888    0.00%(d) 
Carlyle Sapphire Partners, L.P.(a)(b)  Asia/Pacific  Growth  9/30/2015   9,565,027    8,181,323    0.81%
Carlyle Thunder Coinvestment, L.P.(a)  North America  Buyout  12/28/2017   0    4,230    0.00%(d) 
Matador Co-Investment SCSp(a)(b)(c)  Europe  Special Situations  9/30/2019   5,342,677    5,943,889    0.59%
Nash Coinvestment, L.P.(a)(b)(c)  Africa  Buyout  10/10/2017   83,677    316,284    0.03%
Neptune Coinvestment, L.P.(a)(b)(c)  Europe  Buyout  6/23/2017   228,652    1,304,592    0.13%
Reciprocal Capital Holdings, LLC(a)(b)  Asia/Pacific  Growth  1/30/2018   14,308,022    21,100,000    2.08%
Total Co-Investments            92,742,341    128,976,292      
                         
Primary Investments (44.47%)                        
AlpInvest Atom Fund (Onshore), L.P.(a)(b)(c)  North America  Global  1/8/2022   16,857,955    22,034,331    2.17%
AlpInvest Co-Investment Fund (Onshore) VII, L.P.(a)(c)  North America  Buyout  11/13/2017   15,085,878    33,276,631    3.28%
Carlyle Asia Partners Growth I, L.P.(a)(b)(c)  Asia/Pacific  Growth  5/23/2016   9,999,676    2,866,006    0.28%
Carlyle Asia Partners IV, L.P.(a)(c)  Asia/Pacific  Buyout  5/25/2014   25,174,709    6,959,028    0.69%
Carlyle Asia Partners V, L.P.(a)(c)  Asia/Pacific  Buyout  10/30/2017   80,946,730    88,974,307    8.78%
Carlyle Asia Partners VI, L.P.(a)(b)(c)  Asia/Pacific  Buyout  3/6/2023   0    (1,188,908)   (0.12)%
Carlyle Europe Partners V, L.P.(a)(b)  Europe  Buyout  4/23/2018   0    0    0.00%(d) 
Carlyle Europe Technology Partners III, L.P.(a)(b)(c)  Europe  Growth  3/28/2015   9,159,065    8,045,739    0.79%
Carlyle Europe Technology Partners IV, L.P.(a)(b)(c)  Europe  Growth  11/30/2018   19,387,861    23,513,092    2.32%
Carlyle Europe Technology Partners V, S.C.Sp.(a)(b)(c)  Europe  Growth  3/11/2022   14,785,856    12,498,209    1.23%
Carlyle Global Financial Services Partners II, L.P.(a)(b)(c)  Global  Buyout  6/30/2014   6,156,457    11,364,335    1.12%
Carlyle Global Financial Services Partners III, L.P.(a)(b)(c)  Global  Buyout  6/30/2017   23,442,960    32,380,129    3.20%
Carlyle International Energy Partners II, S.C.Sp.(a)(b)(c)  Global  Special Situations  11/30/2018   9,792,782    8,568,794    0.85%
Carlyle International Energy Partners, L.P.(a)(b)(c)  Global  Special Situations  3/12/2014   22,237,367    16,816,213    1.66%
Carlyle Partners VI, L.P.(a)(c)  North America  Buyout  9/20/2013   6,263,714    4,382,669    0.43%
Carlyle Partners VII, L.P.(a)(c)  North America  Buyout  11/29/2017   46,875,964    56,814,267    5.61%
Carlyle Partners VIII, L.P.(a)(c)  North America  Buyout  9/10/2021   27,352,195    31,180,307    3.08%

 

 

Investment Funds (88.98%) (continued)  Geographic
Region		  Financing
Stage		  Acquisition
Date		  Cost   Fair Value   Percentage of
Net Assets		 
Primary Investments (44.47%) (continued)                        
Coatue Growth Fund V-B, L.P.(a)(b)(c)  North America  Growth  3/31/2024  $426,230   $446,076    0.04%
CVC Credit Partners Global Special Situations Fund II SCSP (a)(c)  Europe  Special Situations  6/6/2019   8,347,102    12,122,274    1.20%
Golub Capital Partners 10, L.P.(a)(b)(c)  North America  Credit  10/1/2016   12,625,803    13,388,529    1.32%
Hunter Point Capital Structured Notes Issuer, LLC(a)(b)(c)  North America  Special Situations  12/30/2022   2,845,600    2,845,598    0.28%
JLL Partners Fund VII, L.P.(a)(b)(c)  North America  Buyout  3/31/2016   5,117,653    10,140,185    1.00%
Riverside Capital Appreciation Fund VII, L.P.(a)(b)(c)  North America  Buyout  9/16/2019   2,961,398    4,016,089    0.40%
'Riverside Micro-Cap Fund VI, L.P.(a)(b)(c)  North America  Buyout  8/26/2021   8,114,110    7,874,210    0.78%
Spring Bridge Partners, L.P.(a)(b)(c)  North America  Buyout  9/17/2019   5,169,992    5,902,460    0.58%
Tiger Global Private Investment Partners XV, L.P.(a)(b)(c)  North America  Growth  3/18/2022   9,583,794    6,653,430    0.66%
Vitruvian Investment Partnership IV(a)(b)(c)  Europe  Growth  8/31/2020   10,018,259    11,350,296    1.12%
Warburg Pincus Financial Sector II, L.P.(a)(c)  North America  Growth  6/9/2022   10,972,101    17,355,526    1.71%
Total Primary Investments            409,701,211    450,579,822      
                         
Secondary Investments (31.77%)                        
Access Holdings (FPG), L.P.(a)(b)  North America  Buyout  7/22/2021   8,376,341    1,827,910    0.18%
AE Industrial Partners Extended Value Fund, L.P.(a)(c)  North America  Buyout  6/2/2021   806,905    408,495    0.04%
ASP Helios III, L.P.(a)(b)(c)  Europe  Buyout  4/29/2022   13,677,974    22,487,708    2.22%
ASP Jordan, L.P.(a)(b)(c)  Europe  Buyout  4/21/2023   18,285,271    30,176,191    2.98%
ASP Oyster, L.P(a)(c)  Europe  Buyout  4/21/2023   15,521,131    20,011,098    1.98%
Audax Private Equity Fund, L.P.(a)(b)  North America  Buyout  9/30/2016   0    3,301    0.00%(d) 
Blue Point Capital Partners II, L.P.(a)(b)  North America  Growth  10/23/2020   0    126,654    0.01%
Brazil Buyout Coinvestment, L.P.(a)(b)  South America  Buyout  4/2/2014   82,978    7,218    0.00%(d) 
Brentwood Associates Opportunities Fund, L.P.(a)(b)(c)  North America  Growth  4/1/2021   2,537,838    2,563,663    0.25%
Carlyle Asia Partners III Coinvestment, L.P.(a)(b)  Asia/Pacific  Buyout  12/30/2014   0    0    0.00%(d) 
Carlyle Asia Partners IV Access Fund, L.L.C.(a)(b)(c)  Asia/Pacific  Buyout  12/31/2018   11,343    824,210    0.08%
Carlyle Asia Partners IV, L.P.(a)(b)(c)  Asia/Pacific  Buyout  5/24/2017   2,775,310    15,667,422    1.55%
Carlyle Cardinal Ireland Fund, L.P.(a)(b)(c)  Europe  Growth  10/31/2017   139,816    28,379    0.00%(d) 
Carlyle Energy Mezzanine Opportunities Fund, L.P.(a)(b)(c)  North America  Growth  9/30/2016   528    19,109    0.00%(d) 
Carlyle Europe Partners II Coinvestment, L.P.(a)(b)  Europe  Buyout  4/2/2014   790    83,421    0.01%
Carlyle Europe Partners II, L.P.(a)(b)(c)  Europe  Buyout  7/1/2013   0    661,136    0.07%
Carlyle Europe Partners III Investment Holdings, L.P.(a)(b)  Europe  Buyout  4/2/2014   2,342,910    40,644    0.00%(d) 
Carlyle Europe Technology Partners II, L.P.(a)(b)(c)  Europe  Growth  12/31/2018   292    274    0.00%(d) 
Carlyle Europe Technology Partners III, L.P.(a)(b)(c)  Europe  Growth  1/24/2022   7,915,592    4,469,874    0.44%
Carlyle Europe Technology Partners IV, L.P.(a)(b)(c)  Europe  Growth  1/24/2022   3,978,810    3,525,265    0.35%
Carlyle Fourmi Co-Investment, L.P.(a)  North America  Growth  1/18/2024   18,433,237    14,430,497    1.42%
Carlyle Global Financial Services Partners II, L.P.(a)(b)(c)  Global  Buyout  12/31/2017   1,440,343    5,129,492    0.51%
Carlyle Global Financial Services Partners, L.P.(a)(b)(c)  Global  Buyout  6/30/2014   0    197,639    0.02%

 

 

Investment Funds (88.98%) (continued)  Geographic
Region		  Financing
Stage		  Acquisition
Date		  Cost   Fair Value   Percentage of
Net Assets		 
Secondary Investments (31.77%) (continued)                        
Carlyle Infrastructure Partners, L.P.(a)(b)(c)  North America  Buyout  8/29/2014  $1,418,216   $447,984    0.04%
Carlyle International Energy Partners, L.P.(a)  Global  Special Situations  12/29/2017   5,444,078    3,923,783    0.39%
Carlyle MENA Partners, L.P.(a)(b)(c)  Middle East/North Africa  Buyout  9/28/2018   0    35,842    0.00%(d) 
Carlyle Mezzanine Partners II, L.P.(a)(b)  North America  Credit  12/30/2015   7,568,929    2,615,189    0.26%
Carlyle Partners V Coinvestment, L.P.(a)  North America  Buyout  4/2/2014   436,210    442,244    0.04%
Carlyle Partners V, L.P.(a)(b)(c)  North America  Buyout  6/28/2013   0    4,290,526    0.42%
Carlyle Partners VI Coinvestment A (Cayman), L.P.(a)  North America  Buyout  8/31/2014   144,599    11,022    0.00%(d) 
Carlyle Partners VI, L.P.(a)(b)(c)  North America  Buyout  7/6/2016   581    1,897,148    0.19%
Carlyle Realty Partners VI, L.P.(a)(b)(c)  North America  Buyout  4/25/2018   106,485    69,102    0.01%
Carlyle South America Buyout Fund, L.P.(a)(b)  South America  Buyout  10/31/2017   0    33,028    0.00%(d) 
Carlyle Strategic Partners II, L.P.(a)(b)(c)  North America  Special Situations  8/16/2013   2,205,745    0    0.00%(d) 
Carlyle Strategic Partners III Coinvestment, L.P.(a)(b)  North America  Special Situations  4/2/2014   406    113,594    0.01%
Carlyle U.S. Equity Opportunity Fund II Coinvestment, L.P.(a)  North America  Growth  3/15/2019   5    0    0.00%(d) 
Carlyle U.S. Equity Opportunity Fund II, L.P.(a)(c)  North America  Growth  3/20/2018   336,916    3,785,874    0.37%
Carlyle U.S. Growth Fund III, L.P.(a)(b)(c)  North America  Growth  12/31/2018   0    94,987    0.01%
Carlyle/Riverstone Global Energy & Power Fund III, L.P.(a)(b)(c)  North America  Buyout  9/30/2014   1,997,175    165    0.00%(d) 
Cerberus Institutional Overseas IV, Ltd.(a)(b)(c)  North America  Special Situations  7/1/2018   0    137,992    0.01%
Cerberus Institutional Partners, L.P. - Series 4(a)(b)(c)  North America  Special Situations  10/17/2019   0    7,394    0.00%(d) 
Cerberus International SPV, Ltd. Class A(a)(b)  North America  Special Situations  7/1/2018   0    314,052    0.03%
Cerberus International SPV, Ltd. Class B-8(a)(b)  North America  Special Situations  6/13/2016   0    171,751    0.02%
Cerberus International, Ltd. Class A(a)(b)  North America  Special Situations  7/1/2018   0    153,608    0.02%
Coatue Growth Fund V(a)(b)(c)  North America  Growth  7/14/2023   1,322,653    2,071,656    0.20%
Delta-V CI, L.P.(a)(c)  North America  Growth  8/27/2024   3,030,000    3,030,000    0.30%
Delta-V PS, L.P.(a)(b)  Israel  Growth  5/1/2023   5,135,000    11,619,084    1.15%
Euro Wagon II, L.P.(a)(b)  North America  Special Situations  7/1/2016   0    91,164    0.01%
FB HA Holdings, L.P.(a)(b)  North America  Growth  8/30/2021   5,126,923    5,647,482    0.56%
Harbinger Streamline Offshore Fund, L.L.C.(a)(b)  North America  Special Situations  7/1/2018   768,168    0    0.00%(d) 
Icon Software Partners, L.P. (Class B)(a)(b)(c)  North America  Growth  9/1/2020   173,759    10,464,813    1.03%

 

 

Investment Funds (88.98%) (continued)  Geographic
Region		  Financing
Stage		  Acquisition
Date		  Cost   Fair Value   Percentage of
Net Assets		 
Secondary Investments (31.77%) (continued)                        
JLL Partners Fund V, L.P.(a)(b)(c)  North America  Buyout  12/30/2015  $1,884,003   $1,912,352    0.19%
Laverne Buyer Holdings I, LLC(a)(b)  North America  Growth  4/10/2018   0    494,047    0.05%
Laverne Buyer Holdings II, LLC(a)(b)  North America  Growth  4/10/2018   0    265,683    0.03%
Laverne Buyer Holdings III, LLC(a)(b)  North America  Growth  4/10/2018   4,812,405    3,907,209    0.39%
Laverne Buyer Holdings V, LLC(a)(b)  North America  Growth  4/10/2018   1,350,510    1,585,464    0.16%
LEP Opportunities II L.P(a)(b)(c)  North America  Buyout  7/6/2022   14,333,401    17,707,464    1.75%
MENA Coinvestment, L.P.(a)(b)  Middle East/North Africa  Buyout  4/2/2014   11,861    147,638    0.01%
Neoma Private Equity Fund IV, L.P.(a)(b)(c)  Middle East/North Africa  Buyout  12/31/2017   5,842,428    2,793,765    0.28%
New Enterprise Associates 10, L.P.(a)(b)  North America  Growth  4/5/2017   0    86,082    0.01%
Newport Global Opportunities Fund, L.P.(a)(b)  North America  Buyout  12/29/2014   8,158,631    3,627,097    0.36%
OCM Opportunities Fund VII (Cayman), Ltd.(a)(b)  North America  Special Situations  10/17/2019   97,255    0    0.00%(d) 
OCM Opportunities Fund VII, L.P.(a)(b)  North America  Special Situations  10/17/2019   8,734    0    0.00%(d) 
OCM Opportunities Fund VIIb (Cayman), Ltd.(a)(b)(c)  North America  Special Situations  10/17/2019   531    0    0.00%(d) 
Passero 18, L.P.(a)(b)  North America  Buyout  6/22/2018   412,059    8,124,227    0.80%
Pegasus WSJLL FUND, L.P.(a)(b)(c)  North America  Buyout  12/15/2021   13,096,945    15,135,845    1.49%
Presidio Investors Elv Continuation Fund, L.P.(a)(b)(c)  North America  Buyout  12/16/2022   9,526,234    12,309,952    1.22%
Revelstoke Epic Fund I, L.P(a)(b)(c)  North America  Growth  8/26/2019   14,138,968    22,873,690    2.26%
Riverside Micro-Cap Fund III, L.P.(a)(b)(c)  North America  Buyout  5/1/2019   0    5,649,291    0.56%
Riverstone Global Energy and Power Fund V, L.P.(a)(b)(c)  North America  Buyout  9/30/2014   10,487,513    648,344    0.06%
Riverstone/Carlyle Global Energy & Power Fund IV, L.P.(a)(b)(c)  North America  Buyout  9/30/2014   5,164,077    585    0.00%(d) 
Riverstone/Carlyle Renewable & Alternative Energy Fund II, L.P.(a)(b)(c)  North America  Buyout  11/12/2014   725,760    35,473    0.00%(d) 
Strategic Value Global Opportunity Feeder Fund 1-A, L.P.(a)(b)  North America  Special Situations  12/31/2016   1,832,025    3,262,331    0.32%
Strategic Value Global Opportunity Fund 1-A, L.P.(a)(b)  North America  Special Situations  12/31/2016   122,510    214,122    0.02%
Strategic Value Global Opportunity Master Fund, L.P.(a)(b)  North America  Special Situations  12/31/2016   0    0    0.00%(d) 
Strategic Value Special Situations Feeder Fund, L.P.(a)(b)  North America  Special Situations  12/31/2016   1,917,818    13,658,807    1.35%
Strategic Value Special Situations Fund, L.P.(a)(b)  North America  Special Situations  12/31/2016   168,691    1,147,289    0.11%
Styx International, Ltd. Series 1(a)(b)  North America  Credit  7/1/2018   135,202    123,464    0.01%

 

 

Investment Funds (88.98%) (continued)  Geographic
Region		  Financing
Stage		  Acquisition
Date		  Cost   Fair Value   Percentage of
Net Assets		 
Secondary Investments (31.77%) (continued)                        
Styx International, Ltd. Series 4(a)(b)  North America  Credit  7/1/2018  $63,749   $58,214    0.01%
Styx International, Ltd. Series 5(a)(b)  North America  Credit  7/1/2018   29,525    26,961    0.00%(d) 
Tiger Global XV(a)(b)(c)  North America  Growth  7/14/2023   2,388,760    3,326,715    0.33%
TPG AAF Partners N-A, L.P.(a)(b)(c)  North America  Buyout  6/22/2021   0    19,725    0.00%(d) 
Varde Investment Partners L.P.(a)(b)  North America  Special Situations  9/30/2016   0    0    0.00%(d) 
Vitruvian Inv. Partnership I Continuation Fund(a)(b)(c)  Europe  Growth  8/7/2019   5,653,701    9,837,900    0.97%
Warburg Pincus Energy, L.P.(a)(b)(c)  North America  Buyout  9/28/2018   977,816    1,437,438    0.14%
Warburg Pincus XI (Asia), L.P.(a)(b)  Asia/Pacific  Growth  9/29/2017   13,723,871    8,941,114    0.88%
Warrior Buyer Holdings, LLC(a)(b)  North America  Special Situations  10/2/2018   15,867,900    8,422,672    0.83%
Total Secondary Investments            264,476,140    321,940,044      
                         
Total Investment Funds           $766,919,692   $901,496,158      

 

Short-Term Investments (1.67%)  Cost   Fair Value 
Money Market Funds (1.67%)          
Fidelity Treasury Only Money Market Fund, 4.12%(e)   2,299,390    2,299,390 
Goldman Sachs Financial Square Treasury Instruments Fund, Class Institutional, 4.35%(e)   2,300,627    2,300,627 
JP Morgan 100% U.S. Treasury Securities Money Market Fund, Class I, 4.02%(e)   2,301,829    2,301,829 
Morgan Stanley Institutional Liquidity Fund, Class I, 4.37%(e)   10,008,747    10,008,747 
           
Total Money Market Funds   16,910,593    16,910,593 
           
Total Short-Term Investments  $16,910,593   $16,910,593 
           
Total Investments (90.65%)  $783,830,285   $918,406,751 
Other Assets In Excess of Liabilities (9.35%)        94,705,144 
Net Assets (100.00%)       $1,013,111,895 

 

 

  See Note 3 in the accompanying Notes to the Consolidated Financial Statements.
(a) Investments have no redemption provisions, are issued in private placement transactions and are restricted as to resale. For investments that were acquired through multiple transactions, the acquisition date represents the initial acquisition date of the Fund’s investment in the position. Total fair value of restricted securities amounts to $901,496,158, which represents 88.98% of net assets as of December 31, 2024.
(b) Non-income producing security.
(c) The Fund held unfunded commitments in the investment as of December 31, 2024. Total unfunded commitments amount to $344,769,532 as of December 31, 2024.
(d) Rounds to less than 0.005%
(e) The rate shown is the annualized 7-day yield as of December 31, 2024.

 

 

 

Investments as of December 31, 2024
     
Private Equity Type  Percent of Total Net Assets 
Investment Funds     
Co-Investments   12.74%
Primary Investments   44.47%
Secondary Investments   31.77%
Total Investment Funds   88.98%
Short-Term Investments     
Money Market Fund   1.67%
Total Investments   90.65%
Other assets in excess of liabilities   9.35%
Total Net Assets   100.00%

 

See accompanying Notes to Consolidated Schedule of Investments.

 

 

CPG CARLYLE COMMITMENTS MASTER FUND LLC

Notes to Quarterly Statements of Investments

December 31, 2024 (Unaudited)

 

NOTE 1. ORGANIZATION

 

NOTE 2. SIGNIFICANT ACCOUNTING POLICIES

 

CPG Carlyle Commitments Fund, LLC (the “Fund”) invests substantially all of its assets in CPG Carlyle Commitments Master Fund, LLC (the “Master Fund”). The following is a summary of significant accounting policies followed by the Fund and the Master Fund in the preparation of their Schedules of Investments. These policies are in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Master Fund meets the definition of an investment company and follows the accounting and reporting guidance as issued through Accounting Standards Codification (“ASC”) 946, Financial Services – Investment Companies.

 

Fair value is defined as the value that the Master Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. Under U.S. GAAP, a three-level hierarchy for fair value measurements has been established based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Master Fund. Unobservable inputs reflect the Master Fund’s own assumptions about the assumptions that market participants would use in valuing the asset or liability developed based on the best information available in the circumstances. Each investment is assigned a level based upon the observation of the inputs which are significant to the overall valuation.

 

The three-tier hierarchy of inputs is summarized below:

 

● Level 1 — unadjusted quoted prices in active markets for identical financial instruments that the reporting entity has the ability to access at the measurement date.

 

● Level 2 — inputs other than quoted prices included within Level 1 that are observable for the financial instrument, either directly or indirectly. Level 2 inputs also include quoted prices for similar assets and liabilities in active markets, and quoted prices for identical or similar assets and liabilities in markets that are not active.

 

● Level 3 — significant unobservable inputs for the financial instrument (including the Master Fund’s own assumptions in determining the fair value of investments). For investments measured at NAV as of the measurement date, included in this category are investments for which the Master Fund does not have the ability to redeem at NAV as of the measurement date due to holding periods greater than one year from the measurement date.

 

Investments in Portfolio Funds are recorded at fair value, using the Portfolio Funds’ net asset value as a practical expedient.

The private equity Investment Funds are generally restricted securities that are subject to substantial holding periods and are not traded in public markets, so that the Master Fund may not be able to resell some of its investments for extended periods, which may be several years. The types of private equity Investment Funds that the Master Fund may make include primary, secondary and co-investments. Co-investments (the “Co-investments”) represent opportunities to invest in specific portfolio companies that are typically made alongside an Investment Fund. Primary investments (the “Primary Investments”) are investments in newly established private equity funds. Secondary investments (the “Secondary Investments”) are investments in existing private equity funds that are acquired in privately negotiated transactions.

 

The NAV of the Master Fund is determined by, or at the direction of, Central Park Advisers, LLC (the “Adviser”) as of the close of business at the end of any fiscal period in accordance with the valuation principles set forth below or as may be determined from, time to time, pursuant to policies established by the Master Fund’s Board of Directors (the “Board”). The Master Fund’s investments in Investment Funds are subject to the terms and conditions of the respective Investment Funds’ operating agreements and offering memorandums, as appropriate. The Master Fund’s Valuation Committee (the “Committee”) oversees the valuation process of the Master Fund’s investments. The Committee meets on a monthly basis and reports to the Board on a quarterly basis. The Master Fund’s investments in Investment Funds are carried at fair value which generally represents the Master Fund’s pro-rata interest in the net assets of each Investment Fund as reported by the administrators and/or investment managers of the underlying Investment Funds. All valuations utilize financial information supplied by each Investment Fund and are net of management and incentive fees or allocations payable to the Investment Funds’ managers or pursuant to the Investment Funds’ agreements. The Master Fund’s valuation procedures require the Adviser to consider all relevant information available at the time the Master Fund values its portfolio. The Adviser has assessed factors including, but not limited to, the individual Investment Funds’ compliance with fair value measurements, price transparency and valuation procedures in place and subscription and redemption activity. The Adviser and/or the Board will consider such information and consider whether it is appropriate, in light of all relevant circumstances, to value such a position at its NAV as reported or whether to adjust such value. The underlying investments of each Investment Fund are accounted for at fair value as described in each Investment Fund’s financial statements (see the Master Fund’s Schedule of Investments).

 

 

The fair value relating to certain underlying investments of these Investment Funds, for which there is no ready market, has been estimated by the respective Investment Funds’ management and is based upon available information in the absence of readily ascertainable fair values and does not necessarily represent amounts that might ultimately be realized. Due to the inherent uncertainty of valuation, those estimated fair values may differ significantly from the values that would have been used had a ready market for the investments existed. These differences could be material.

 

The Master Fund may also make Direct Investments, which are interests in securities issued by operating companies and are typically made as investments alongside a private equity fund. With respect to valuation of Direct Investments, they are fair valued typically by reference to the valuation utilized by the corresponding private equity fund or with a third party valuation agent.

 

The following table sets forth information about the levels within the fair value hierarchy at which the Master Fund’s investments are measured as of December 31, 2024:

 

   Level 1   Level 2*   Level 3*   Investments
Measured at Net
Asset Value(1)		   Total 
Investments                    
Investments in Private Investment Funds  $-   $-   $-   $901,496,158   $901,496,158 
Short-Term Investments   16,910,593    -    -    -    16,910,593 
Total Investments  $16,910,593   $-   $-   $901,496,158   $918,406,751 

 

*The Fund did not hold level 2 or level 3 securities at period end.
(1)These investements are presented for reconsilition purposes and are not required to be categorized in the fair value hierarchy since they are measured at net asset value, without adjustment, as permitted as a practical expedient.

 

The Master Fund held Investment Funds with a fair value of $901,496,158, that, in accordance with ASU 2015-07, are excluded from the fair value hierarchy as of December 31, 2024.