My theory, halflife, is to let them sell on-market if they want...

My theory, halflife, is to let them sell on-market if they want to exit that urgently. Yes, it would create a higher gap between NTA and SP, however it would discourage other speculators from trying to undertake a similar course of action.

Note too, that the greater the discount the greater demand would likely be, creating demand in its own right.

Finally, these funds are just as capable as LRF is of approaching large investors to negotiate a sale of their stake. LRF has undertaken to do the leg work for them AND provide a guarantee exit discount.

MJS