Private equity and other illiquid private market investment funds have become increasingly relevant to pension fund investors in recent years as they have sought to diversify a minority proportion of their portfolios away from public market securities. Some pension funds may now find that they are over allocated to private funds because of declining values in public markets. Private fund valuations have held up better than valuations in the public markets with the result that some investors have found themselves holding a greater proportion of private investments than they intended. READ MORE