Godfrey's idea is very suitable to answer your question: the main reason is that the information is opaque. The information disclosure of domestic GP itself is not perfect, and the information disclosed to LP is not transparent enough, so S Fund has no way to judge and prepare in advance before the transaction. If there is a demand for share transfer, you still have to do it again. This work is very heavy. You can't just rely on the information provided by LP, or you need to re-price yourself.