These unrealized investments were either purchased at high multiples, were in sectors sensitive to the business cycle that have yet to recover or were in larger companies that have limited exitoptions.
The PE industry is laboring under the burdens of high asset prices, the reluctance of Indian business owners to sell controlling stakes in the companies and virtually no viable exitoptions to provide liquidity.
But it seems reasonable to assume that those who must live with the consequences of a euro exit are in a better position to weigh the options than the average British newspaper reader.
Realignment talk is an especially speculative endeavor at this point in the year, but ACC schools will have to consider their options next offseason if Maryland is allowed to leave with an affordable exit fee.