The most common ending to a zombie movie is what's called the 'open survival ending' where a small group escapes to a new location or awaits rescue, while the rest of the world remains overrun by the dead. It's not unlikely that a similar ending awaits the private equity industry when it comes to stagnant, tail-end vehicles. These 'zombie funds' - private equity vehicles that have exceeded their investment periods without meaningful exits - are increasingly seen as candidates for wind-down or restructuring rather than revival.

Industry observers note that unlike traditional zombie films where survivors might rebuild civilization, private equity zombie funds are more likely to dissolve quietly, with limited partners receiving whatever value remains after costs. The parallel suggests that most of these funds will ultimately meet an open survival ending rather than dramatic resurrection.