"Endowments are afraid capital calls will come quickly and far ahead of any liquidity from private equity funds, " says Colin McGrady, managing director at Cogent Partners.
Private equity investors will soon get word about recent mark-downs to their holdings, losses that probably won't reflect the 60 cents on the dollar bids--which are, on average, the high bids--now seen in the secondary market, says Colin McGrady, managing director of Cogent Partners, which advises on secondary transactions.