How Much for a Haircut? Illiquidity, Secondary Markets, and the Value of Private Equity
“Bollen, Nicolas P. B. and Sensoy, Berk A., How Much for a Haircut? Illiquidity, Secondary Markets, and the Value of Private Equity (May 17, 2015). Fisher College of Business Working Paper No. 2015-03-08. Available for download at SSRN: http://ssrn.com/abstract=2608549 “Limited partners (LPs) of private equity funds commit to invest with significant uncertainty regarding the timing …