How can a limited partner bow out of a private equity fund before the partner's commitment is over? The opaque and illiquid nature of PE funds by definition makes the leave-taking difficult. Sometimes a limited partner needs the help of an outside advisor to navigate the potential landmines in the secondary market. Jean-Marc Cuvilly, a partner at one such advisor, Triago, offers a guide to the problems and the potential of looking for a buyer.

For more on this class session, see: http://knowledge.wharton.upenn.edu/pe...

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