Sunstone Partners II, LP
- Vintage
- 2019
- Reported gross assets
- $360M
A private equity fund outside venture scope, shown because its manager is on the venture graph.
1 additional placement agent
Every relationship, signal and contact on this record, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What matters now
- 2 LP reportspublic disclosures
2 public LP reports name this vehicle; the latest, Los Angeles City Employees' Retirement System as of 31 Dec 2025 and net IRR 17.8%, 1.58x (the LP's own figures).
A named LP and its own performance figures are the strongest outside read on a fund.
FactPublic pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)For LPs, fund-of-fundsLimited partners → - +36049514900%reported GAV
Reported gross assets rose from $0 to $360M between the Form ADV filings of 17 Dec 2019 and 2 Jul 2026.
The fund's assets as the adviser swears them, never its size or dry powder.
- Vintage
- 2019basis: adv first reported
- Target
- unknownnot announced
- First close
- unknownnever inferred from a Form D
- Final close
- unknownonly from an announcement or an LP disclosure
- Announced size
- unknown
- Form D offering
- $375Mwhat may be sold, not what was raised; file 021-346182, sworn by the adviser or filed under this vehicle
- Form D sold
- $0as of the filing of Aug 9, 2019
- First sale
- unknown
- Reported GAV
- $360Mon the Form ADV filed Jul 2, 2026; the fund's assets, never its size or dry powder
- Owners (ADV)
- 30
- Reported on ADV
- Aug 22, 2019 to Jul 2, 2026
LifecycleMature
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Aug 22, 2019 | Venture Capital Fund | $0 | 18 | $100,000 | 2% | yes | |
| Dec 17, 2019 | Venture Capital Fund | $0 | 18 | $100,000 | 2% | yes | |
| Jul 2, 2026 | Private Equity Fund | $360M | 30 | $10.0M | 3% |
- Arneek Multani Executive Officer/Promoter
- Michael Biggee Executive Officer/Promoter
- Gustavo Alberelli Executive Officer/Promoter
- AuditorPwC · SAN FRANCISCO, California, United StatesForm ADV filed Mar 28, 2025 reports.adviserinfo.sec.gov
- AdministratorAlter Domus · SALT LAKE CITY, Utah, United StatesForm ADV filed Mar 28, 2025 reports.adviserinfo.sec.gov
- CustodianFirst Republic Bank · SAN FRANCISCO, California, United StatesForm ADV filed Mar 28, 2025 reports.adviserinfo.sec.gov
| LP | Vintage (LP’s) | Committed | Paid in | Distributed | Remaining value | Net IRR | Multiple | As of |
|---|---|---|---|---|---|---|---|---|
| Los Angeles City Employees' Retirement System lacers.org | 2020 | Not disclosed | Not disclosed | Not disclosed | Not disclosed | 17.8% | 1.6x | Dec 31, 2025 |
| Los Angeles City Employees' Retirement System lacers.org | 2019 | $10.0M | Not disclosed | Not disclosed | Not disclosed | not meaningful yet | unknown | Aug 16, 2019 |
| Allocator | Type | Amount | Date | Source |
|---|---|---|---|---|
| Los Angeles City Employees' Retirement System | MUNICIPAL RETIREMENT SYSTEM | amount not disclosed | reported as of Dec 31, 2025 | Fact Pension disclosure |
- Dec 31, 2025LACERS reports Sunstone Partners II: an undisclosed amount committed, vintage 2020, net IRR 17.8%, 1.58xLP commitment disclosed Fact Pension disclosure
- Aug 22, 2019Sunstone Partners II, LP first reported on Form ADV by Sunstone Partners (Venture Capital Fund)Fund first reported on Form ADV Fact Form ADV
- Aug 16, 2019LACERS commits $10,000,000 to Sunstone Partners II (Sunstone), closed 2019-08-16, existing relationshipLP commitment closed Fact Pension disclosure
- Aug 9, 2019Sunstone Partners II, LP filed Form D: no sales yet of $375,000,000, Private Equity FundForm D filed Fact Form D
Every observation on this vehicle
- Entity type: Limited Partnership Fact Form D
- Entity type: Limited Partnership Aug 9, 2019 Fact Form D
- Form D fund type: Private Equity Fund Fact Form D
- Form D fund type: Private Equity Fund Aug 9, 2019 Fact Form D
- Form D industry group: Pooled Investment Fund Fact Form D
- Form D industry group: Pooled Investment Fund Aug 9, 2019 Fact Form D
- Amendment: false Fact Form D
- Amendment: false Aug 9, 2019 Fact Form D
- Revenue range (Form D): Decline to Disclose Fact Form D
- Revenue range (Form D): Decline to Disclose Aug 9, 2019 Fact Form D
- Incorporated: withinFiveYears Fact Form D
- Incorporated: withinFiveYears Aug 9, 2019 Fact Form D
- Jurisdiction: Delaware Fact Form D
- Jurisdiction: Delaware Aug 9, 2019 Fact Form D
- Amount sold (Form D): $0 Fact Form D
- Amount sold (Form D): $0 Aug 9, 2019 Fact Form D
- Offering amount (Form D): $375M Fact Form D
- Offering amount (Form D): $375M Aug 9, 2019 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Fact Form D
- Exemptions: 06b, 3C, 3C.1, 3C.7 Aug 9, 2019 Fact Form D
- Investors (Form D): 0 Fact Form D
- Investors (Form D): 0 Aug 9, 2019 Fact Form D
- Minimum investment (Form D): 10,000,000 Fact Form D
- Minimum investment (Form D): 10,000,000 Aug 9, 2019 Fact Form D
- Securities offered: Equity, pooled Fact Form D
- Securities offered: Equity, pooled Aug 9, 2019 Fact Form D
- Office address: Fact Form D
- Office address: Aug 9, 2019 Fact Form D
- Year of incorporation: 2019 Fact Form D
- Year of incorporation: 2019 Aug 9, 2019 Fact Form D
Relationships across DFX
on 3 other DFX graphs · 2 capital paths
Sunstone Partners II, LP is the same institution as 3 records in Allocators, Private Equity and RIA and Wealth.
DFX found 3 relationships across 3 datasets
Which record it is in each graph, what it is called there, and what the two were joined on.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Checking your plan…
Sunstone Partners II, LP sits on 2 traced paths of capital across the graphs.
DFX traced 2 paths of capital through this record
Every record on each path, what it committed or lent, and as of when.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Record history
- Form D filed2019-08-09source
- LP commitment made2019-08-16source
- LP commitment disclosed2025-12-31source
+1 more change on this record's ledger
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.