Once capital is committed to private funds, complexity compounds. In pursuit of superior risk-adjusted returns, variables drift, and LPs can end up with only one side of the equation – uncompensated risk.

The Work Piles Up in the Tail

LP teams are stretched thin by the compounding decisions and monitoring demands of aging funds. The work – and the complexity – accumulates in the tail of illiquid portfolios: continuation–vehicle decisions, term extensions, NAV verification of long-held assets, fee and expense monitoring, gradual principal–agent misalignment, and more.

Every decision demands rigorous analysis, clear documentation, and an audit-ready record to meet fiduciary obligations. “Patience” is not a permissible strategy when beneficiary capital is locked in opaque or challenged situations. For institutional LPs, inaction isn’t neutrality – under fiduciary requirements, doing nothing can be the riskiest move of all.

Give Us Your Most Intractable Situation. We’ll Give You a Plan.

Antiquity partners with LPs facing complex structures, incomplete information, and misaligned incentives. We start by providing clarity – we independently establish the facts and source critical data that conflicted parties do not readily disclose. We then convert that clarity into concrete resolutions tailored to your situation, ranging from governance remedies and renegotiations to exit pathways.

Our tactics scale to the complexity of the situation, and we deploy purpose-built technology to amplify expert judgment. Our approach stays simple and consistent: establish the facts, define the options, execute and document.

No matter how messy the situation, there is a way forward. We find it—or we create it.