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CMERS (Milwaukee City Employees) → Mesirow Financial Private Equity IX

Field-by-field provenance and archived filing evidence for one of the 5 open public preview records on CMERS (Milwaukee City Employees)’s profile — accessible without registration.

Institutional Allocator

CMERS (Milwaukee City Employees)

Public Pension Plan · Hub: Minnesota / Wisconsin

Reported Holding / Fair Value

$24.5M

Reported holding / fair value (not original commitment) · As of December 2025

$24,490,000 USD (raw: 24.49)

Strategy & Vintage

Fund of Funds

2025 Vintage

Cited Archive Anchor

pdf_archive/Milwaukee_CMERS/CMERS_4Q25_Executive_Summary.pdf#page=9

PDF p.9/34 · Printed p.7

Page Anchor Mismatch · Not Yet Page-Verified

Open Cited Filing (cmers.com) Single-Page Excerpt (PDF p.9) Full-Res Image (PDF p.9)

Provenance & Entity Scope Notice

Page Anchor Mismatch — Fund Row Not Located on Cited PDF Page

The cited financial schedule for CMERS (Milwaukee City Employees) reports period-end portfolio fair market value / carrying value or invested cost ($24.5M) rather than original commitment check size. This figure is classified as Reported holding / fair value (not original commitment) (not an original commitment ticket) so GPs do not mistake current holding value for initial fund commitment size.

Field-Level Provenance & Substantiation Breakdown

Each claim is evaluated independently against the cited table’s headers and units. Different fields on a single record may originate from distinct schedules.

Entity Type: Legal Fund Vehicle · As-of 2025-12-31

Record Field	Recorded Value	Value Type	Substantiation Status	Field-Specific Source Citation & Audit Note
Fund / Legal Vehicle	Mesirow Financial Private Equity IX	Reported	Page Anchor Mismatch	pdf_archive/Milwaukee_CMERS/CMERS_4Q25_Executive_Summary.pdf (PDF Page 9 of 34 · Printed Page 7) Fund name was NOT found on cited PDF Page 9 (Printed Page 7) of 'pdf_archive/Milwaukee_CMERS/CMERS_4Q25_Executive_Summary.pdf'. Citation likely anchors a cover/summary page rather than the exact holdings schedule page.
Disclosed Holding / Fair Market Value	$24.5M (raw: 24.49)	Reported	Holding / Fair Value (Not Commitment)	pdf_archive/Milwaukee_CMERS/CMERS_4Q25_Executive_Summary.pdf (PDF Page 9 of 34 · Printed Page 7) Substantiated on cited holdings schedule (exact_or_unspecified, USD) reporting portfolio fair market / carrying value rather than the allocator's original commitment check size.
Fund Vintage Year	2025	Reported	Not Yet Page-Verified	pdf_archive/Milwaukee_CMERS/CMERS_4Q25_Executive_Summary.pdf (PDF Page 9 of 34 · Printed Page 7) Retained from allocator disclosure / fund vintage registry without substituting filing year.
Net IRR	-7.1%	Reported	Not Yet Page-Verified	pdf_archive/Milwaukee_CMERS/CMERS_4Q25_Executive_Summary.pdf (PDF Page 9 of 34 · Printed Page 7) Reported in allocator performance dataset (as of 2025-12-31); page-level column header not locally archived.
TVPI / Net Multiple	Not disclosed	Missing / Unverified	Not Yet Page-Verified	Not disclosed TVPI / Net Multiple is not disclosed for this record (never defaulted to 0 or 1.00x).
DPI (Realized Multiple)	Not disclosed	Missing / Unverified	Not Yet Page-Verified	Not disclosed DPI (Realized Multiple) is not disclosed for this record (never defaulted to 0 or 1.00x).

Archived Filing Excerpt — PDF Page 9 of 34 (Printed Page 7)

Table Class: Nav Or Fair Value Holdings

Archived file CMERS_4Q25_Executive_Summary.pdf · Detected Table Title: Investment Manager Asset Allocation · Table Units: exact_or_unspecified (USD). Full horizontal row highlighting retains surrounding headers, units, and footnotes.

Download Single-Page PDF

Detected Table Columns: Fair Value / NAV

Row Match Notice: Target fund name was not matched on this cited PDF page index.

Archived File Integrity Checksum (SHA-256): e9333bcdf0f69722…38268d1a6204 — SHA-256 is a file-byte integrity check confirming the archived file has not changed since retrieval. It does NOT prove factual or extraction accuracy.

Archived filing excerpt from CMERS_4Q25_Executive_Summary.pdf, PDF viewer page 9 (printed page 7), highlighting row for Mesirow Financial Private Equity IX

All 5 Open Public Source Trails for CMERS (Milwaukee City Employees)

Click any preview record below to inspect its primary source trail without registration

Open Trail #1 of 5 CAFR / Board Packet · PDF p.2

Harrison Street Core Property Fund, L.P.

Real Assets · 2025 $44.1M

Open Trail #2 of 5 CAFR / Board Packet · PDF p.2

Fortress Investment Group

Distressed / Special Situations · 2025 $44.1M

Open Trail #3 of 5 CAFR / Board Packet · PDF p.9

Mesirow Financial Private Equity IX

Fund of Funds · 2025 $24.5M (Holding)

Open Trail #4 of 5 CAFR / Board Packet · PDF p.9

BlackRock US Govt Bond

Private Credit · 2025 $482.1M (Holding)

Open Trail #5 of 5 CAFR / Board Packet · PDF p.9

BlackRock ACWI ex US Growth

Multi-Strategy · 2025 $226.8M (Holding)

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