Holders of units in the EAIT fund of hedge funds recently received an offer to buy their shares for $0.70 a share:
As you can see, the units are currently valued at $1.37 each. The units are not liquid because the underlying hedge funds have lock-up periods. Even if the value of the underlying funds does not increase until we receive our distributions you'd need a pretty high discount rate to accept this offer. Of course, I won't be doing so.