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PE Will Eat Itself

How private equity has devoured public markets and is now devouring itself One of the key causes of the Woodford implosion was the number of illiquid, unquoted holdings in his portfolio. The lack of a liquid market means that both valuing and transferring such holdings isn’t straightforward. Why then, should anyone invest in a fund that invests in private companies? Earlier this month, Scottish Mortgage Trust (SMT), one of the largest UK investment trusts, issued its half yearly report. Given the recent tribulations ...