The recent collapse in the stock market has led many Private Equity houses to more closely examine their current portfolios. It is significantly more difficult to offer investors the returns on investment that were possible a few years ago. Private Equity houses will have to show more restraint regarding their portfolio management, and be more careful about selling off their assets (as approximately at least one third of Private Equity houses selling off assets reported that the value of their assets had dropped significantly).For most of the first decade of the 21st century, Private Equity houses have overcome such obstacles via initial public offerings or trade sales. However, due to the 2008 economic collapse, these options are much more difficult to implement, leaving the third possibility of secondary transactions (that is, selling assets to another Private Equity house). In the future, Private Equity houses may very well make increasing use of strategic alliances and joint ventures.