"does nothing to tell an LP what a company’s ultimate value at exit will be" "nothing" is the wrong word here. My experience is that the "marks" are indeed qui

"does nothing to tell an LP what a company’s ultimate value at exit will be" "nothing" is the wrong word here. My experience is that the "marks" are indeed quite helpful and for the most part, reasonably accurate. My experience is also that many portfolio company valuations are not particularly sophisticated. The hedge fund comparison is odd since many hedge funds investments are as illiquid or more.