Understanding yet-realized IRR on capital allocator returns reporting

Hello everybody,

I am wondering how capital allocators determine IRR for private equity fund investments before distribution events have occurred.

Here is an example from the Minnesota State Board of Investment investment report for EOY 2018. Let's consider Permira VI on p. 60, which is an active fund that was raised in ~2017.

My understanding is that this fund has yet to liquidate any investments. So a few questions:

1. How can MSBI calculate that this investment has a IRR of 10.7%? IRR is clearly not calculated based off of distributions
2. How is the market value column calculated?
3. Is there anything else I should be aware of to understand fund performance? Is there a better way to get this information?

Thanks, Bubba