News & Perspectives

The Bullfighter Doesn’t Always Win: The Costs of Illiquidity and Benefits of Secondary Market Sales

The Bullfighter Doesn’t Always Win is the second in a series of three White Papers that explores the costs of unintended portfolio illiquidity and the possible benefits to selling less liquid and illiquid Hedge Fund Limited Partner Interests in a secondary market transaction.

This White Paper explores in more detail the costs of unwanted illiquidity and the possible benefits of selling these interests along with the psychological process of making the decision to sell.

You can read The Bullfighter Doesn’t Always Win here.

Failing to Prepare: The Costs and Pitfalls Unintended Illiquidity

Failing to Prepare” explores how thoughtful planning can help avoid common pitfalls when seeking secondary market liquidity.

While earlier White Papers examined both the direct and other costs to holding onto lessliquid and illiquid LP Interests, as well as other reasons investors may wish to sell residual LP Interests, this White Paper examines characteristics of successful secondary sales, offering guidance on counterparty selection and describing differences between certain types of secondary buyers.

You can access Failing to Prepare here.