Analyzing Fears of PE World War Z--Zombie Funds, Forensic Intelligence, and the Coming Transparency Reckoning in Private Markets

August 26, 2026 12:00 PM - 1:00 PM (EDT)

Description

Analyzing Fears of PE World War Z
Zombie Funds, Forensic Intelligence, and the Coming Transparency Reckoning in Private Markets

Zombie funds have become the sensationally named spooks of private equity. As holding periods stretch, exits remain elusive, and billions of dollars remain trapped in aging vehicles, LPs are no longer relying solely on GP reporting to evaluate risk, valuation, and future outcomes.

Investors are increasingly commissioning independent valuations, leveraging forensic intelligence tools, scrutinizing continuation fund transactions, evaluating fiduciary compliance, and working to approach GP negotiations with a new level of rigor. What began as an asset-performance issue is evolving into a broader conversation about transparency, governance, investor protection, and the future operating model of private markets.

At the same time, regulatory and legislative pressure is building. With alternative assets growing into a multi-trillion-dollar segment of the financial system and expanded access to private markets becoming a policy priority, questions surrounding valuation methodologies, portfolio smoothing, disclosure practices, and operational transparency are moving closer to the center of public policy discussions.

In this webinar, Michael Aronstein, Partner at Antiquity Capital, and Michael Halloran, founder of NES Financial and former CEO of JTC Americas, join Chris Gale, Co-Founder of Gale Strategies, for a timely discussion about how sophisticated investors are navigating zombie funds and why operational transparency may become one of the most important themes in private markets over the coming decade.

Things we will cover:

• How are LPs independently evaluating aging private assets?
• How are technology and forensic intelligence reshaping private market oversight?
• What happens if transparency becomes an operational and regulatory expectation rather than a voluntary best practice?