If private equity doesn't see value (because of limited growth or too much risk) why would the public markets see it differently? I see your point about exits

If private equity doesn't see value (because of limited growth or too much risk) why would the public markets see it differently? I see your point about exits but there are enough private equity companies that are OK with holding companies indefinitely so long as the company is viable. The biggest reason to worry about an exit is liquidity and fear of being the last sucker to invest. Liquidity can be addressed by going in the private market and fear of being the last sucker can be addressed by not buying the company in the first place.