Illiquidity turned routine liquidations into a catastrophic 90% price collapse for OM. Excessive leverage in a thin market ...

Lerner, Josh, and Antoinette Schoar. "The Illiquidity Puzzle: Theory and Evidence from Private Equity." Journal of Financial Economics 72, no. 1 (April 2004): 3–40.

The recent market disruption caused by Trump’s trade war has undoubtedly widened spreads between “risk-free” treasury yields ...

If we can get our client families to accept the illiquidity that comes with private investments, we can unlock investment ...