An October paper put out by Strategic Partners Fund Solutions, of Blackstone, argues that (despite risks and drawbacks) investing in the secondary private equity market can still be a smart play, offering "accelerated returns with lower volatility, lower loss rates, and greater downside protection" than the primary market. The secondary PE market is the space wherein buyers can access PE limited partnership positions beyond the initial investment period, and sellers can access liquidity. This was once considered a reaction to distress on the sellers' part, but attitudes have changed.