B.Describe, other than improved liquidity, why a secondary market investment may be more appropriate for the foundation than a private equity investment.
Secondaries are “seasoned” and have less J-curve impact as compared to private equity investments. Therefore, secondary market interests typically last less than ten years and can be realized earlier. Since the investment committee does not want to lock up capital for more than ten years, a secondary market investment would be appropriate for the foundation.
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