A typical hold is 3-6 years with an average of 5 years. Most Sponsors have a clause in the legal docs that allow for a longer hold period. Our goal is to optimize value and this allows us to hold through a down market and wait until the market has recovered.
I would advise any investor that participates in our deals that their investment should be considered illiquid. That being said, we operate in good faith and will work with limited partners to try to find a solution if they need to get out of the investment due to a particular life event.