Much has been written recently about the private equity “zombie fund” phenomenon, with financial journalists and research publications making ever-cheekier references to Dr. Kevorkian, old age homes and “pick-your-favorite-zombie-movie” when describing the growing ranks of private funds that have struggled to wind down on schedule. Whatever the terminology you prefer, the phenomenon is real and no doubt in its early innings.

The article was co-authored with Michael D. Custar and Jeremy A. Duksin of The Credit Suisse Private Fund Group and Kenneth T. Latz of Conway MacKenzie, Inc.