Private equity · Exit & disposition intelligence
Your 2019–2021 vintage is a liquidity problem, not a valuation problem.
ChronoCurve ranks a healthcare-heavy sponsor portfolio by realizable value and route, with a backsolve of what the next buyer can actually afford to pay at today’s credit terms.
- Three weeks from data handoff
- Fixed fee under partner signature
- Credited against a platform agreement
Exit-readiness ranking
Illustrative output shape- Cohort
- 5 of 18 platforms
- Median hold
- 6.0 yrs
- Screen
- Held 4+ yrs
-
Provider services platformheld 6.8 yrs · A-gradeSell now
-
Specialty pharmacy roll-upheld 5.4 yrs · B-gradeSponsor-to-sponsor
-
Behavioral health networkheld 7.1 yrs · B-gradeContinuation
-
Diagnostics platformheld 4.2 yrs · A-gradeHold & invest
-
Device contract manufacturerheld 6.0 yrs · C-gradeSell now
Cost of delay on the top two: 240 bps of IRR per quarter of continued hold.
Why now
The backlog is the asset class now.
Source: McKinsey & Company, Global Private Markets Report 2026, pp. 3, 14.
The engagement
Backlog Triage
Ten to twenty-five healthcare portfolio companies held four years or longer, ranked by exit readiness and realizable route.
- Exit-readiness ranking across the cohort
- Per-asset valuation triangulation with dispersion carried through
- P10 / P50 / P90 exit paths with downside CVaR
- Sponsor affordability backsolve at current credit terms
- Recommended route per asset: sell, hold and invest, or continuation vehicle
- Computed cost of delay per quarter of continued hold
Three weeks from data handoff · fixed fee under partner signature · credited in full against a platform agreement. No live process is required to start — the engagement runs against the portfolio already on your books.
Routes considered
Every position gets a route, not a rating.
- Strategic saleCorporate buyer with synergy capacity and a different cost of capital.
- Sponsor-to-sponsorPriced by what the next financial buyer can service, not by your held mark.
- GP-led secondaryContinuation vehicle at a mark that has to withstand LP scrutiny.
- Strip sale or LP tenderPartial liquidity against the backlog without a full realization.
- Hold and investDefensible only when the value-creation path clears the cost of delay.
Fair objections
What partners ask first.
“We have bankers for valuation.”
Bankers price one asset once you have already decided to sell it. This ranks twenty assets to decide which ones to sell, and it costs a fraction of a banker week. The two are sequential, not competing.
“We do not trust AI-generated numbers.”
Neither do we. The math runs in a deterministic package with source-tier provenance gating on every input, and the language model only writes the explanation. Ask for the calculation trail in the first meeting — it is the point of the product, not an appendix to it.
“Our marks are set by the valuation committee.”
This does not replace your marks. It gives the committee an independent triangulation to test them against — which matters when roughly 30% of LPs already read continuation-vehicle assets as distressed or challenged.
“We are not a healthcare specialist.”
Then start with the healthcare assets you do hold. Healthcare led all sectors in 2025 buyout value growth, so it is likely a disproportionate share of both your inventory and your uncertainty.
Next step
Start with your oldest three healthcare platforms.
A triage begins with a data handoff, not a discovery call. Bring the held marks and the credit terms; the first meeting is about the calculation trail.
- Three weeks from data handoff
- Fixed fee under partner signature
- Credited against a platform agreement
Running a venture portfolio instead?
See the Portfolio Liquidity Triage for VC →